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As a commercial contractor, you’ve worked hard to build your business. But even the best commercial contractor might face a situation where a client accuses them of an error or you accidentally cause property damage. When that happens, your commercial contractor insurance can provide you protection when you need it the most!
At Simply Business, we can help you find a commercial contractor insurance policy that’s as unique as your business. This coverage can help protect you from common risks, so you can continue delivering great work for your customers.
It’s safe to say that commercial contractors are exposed to many risks. Since you’re working on different client sites, there’s the potential for accidents and property damage. Plus, if an employee gets hurt on the job, your business could be exposed to lawsuits and medical claims.Get Your Quote
General liability insurance — also known as commercial general liability (CGL) insurance — covers costs associated with third-party accidents, property damage, and bodily injury. Without this type of coverage, your commercial or industrial business may be responsible for those costs. That’s why we recommend that commercial contractors carry general liability insurance, as it can provide their business with essential protection.
General liability usually covers:
General liability insurance usually does not cover:
Learn more about General Liability Insurance.
Professional Liability insurance — also known as errors and omissions (E&O) insurance — provides coverage in the event a customer accuses your business of negligence that causes financial injury. If your customer sues your business for mistakes related to your work, your professional liability insurance may cover resulting damages and legal costs.
Professional liability insurance usually covers:
Professional liability insurance usually does not cover:
If an employee gets sick or injured while working for you, workers compensation - also known as employers liability insurance - can provide your business with financial protection. Most states require businesses to carry this policy when you hire your first employee, so be sure to add it to your coverage if you have a team.
Here’s how workers compensation insurance works: If an employee gets injured on the job, this insurance can cover medical costs and lost wages. Carrying workers compensation can provide much-needed security, as having this coverage in place prevents an employee from suing your business for workplace injuries.
While there’s no single answer for how much insurance costs for commercial contractors, you can get an estimate for what you may pay based on:
Want to find out how much your commercial contractor insurance may cost?
Click here to answer a couple of questions so we can help you learn how much you can expect to pay for your commercial contractor insurance coverage.