What Insurance Do I Need for Contractors?

Importance of Insurance for Contractors

Contractors need insurance to protect against risks like bodily injury, property damage, and lawsuits. Required policies depend on business size, state laws, and type of work.

Essential Contractor Insurance Types

  • General liability to cover injury and property damage
  • Inland marine for stolen tools and materials
  • Workers’ compensation for employee injuries
  • Commercial auto for business vehicles
  • Professional indemnity for advice-related services

Insurance Costs and Benefits

Costs vary based on project risks and state regulations. Adequate insurance allows contractors to take on more work and expand their business.

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