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Whether you’re a general contractor or a home improvement renovator, your business is growing fast — and you need contractor insurance that can keep up.
At Simply Business, we work with insurers to provide general contractor insurance policies tailored to your specific risks. We do this by taking the time to understand your contractor business, so you can get a policy that offers full protection.
Best of all? We make it easy to get insured, because let’s face it - your day is busy enough! Fill out our online form and get free insurance quotes in under 10 minutes.
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Contractor insurance is actually a term used to describe a bundle of policies that provide comprehensive coverage for general contractors. This coverage is meant to protect you from the biggest risks you face in your job, like property damage and injuries.
Let’s take a closer look at the policies we recommend for general contractors.
General liability insurance for contractors provides coverage against costs associated with third-party accidents, property damage, and bodily injury. Having this type of coverage can be essential for general contractors, as your type of work carries greater risk for property damage and accidents.
Here’s why: Anything can happen when you’re a contractor. A customer might trip over tools left lying on the ground, or you might damage a client’s furniture unintentionally during a home remodeling project.
If you’re not protected with general liability insurance for contractors, you may be forced to pay for those accidents and damages from your own pocket. And those costs can be substantial: in fact, it’s estimated that the average claim for property damage for small businesses is $30,000.
As a general contractor, your line of work puts you at greater risk for property damage and accidents. That’s why we highly recommend adding this policy to your overall contractor insurance coverage!
Another benefit to getting this policy: It may be required for you to get your contractor’s license. A majority of states require general contractors to carry proof of a general liability insurance policy before issuing a license. If you’re not sure what your state requires, check out our handy state-by-state guide on how to get a contractor’s license.
As a recap, here’s what your general liability insurance can cover:
Here’s what general liability insurance usually doesn’t cover:
If you have any employees - even if they’re part-time or temporary - your state may legally require you to take out a workers compensation policy. A workers comp policy protects you and your business if your employees get hurt, injured, or sick while working on the job.
And it’s not just to fulfill a legal requirement. In many states, proof of a workers compensation policy is required if you want to be a licensed contractor with employees. Again, if you’re not sure what your state requires to get licensed, check out our contractor’s license resource center.
Carrying workers compensation can provide much-needed security, as having this coverage prevents an employee from suing your contracting business for workplace injuries.
Workers compensation insurance for general contractors can cover:
We get that, as a business owner, you’re probably trying to budget as much as possible. That’s why it may be tempting to put off getting contractor insurance or avoiding it altogether, especially if you don’t feel like it adds any value to your business.
But here’s the thing: General contractors like you are at risk to the kind of property damage claims that can be absolutely catastrophic to your finances.
For example, if you get sued for accidentally causing significant property damage to a customer’s home, you may have to pay for legal fees and damages out of your own pocket - or your family’s finances - if you are not properly insured.
Speaking of getting sued, contractor insurance can offer significant peace of mind if a customer decides to sue you over your services, even if you did nothing wrong. Client lawsuits are more common than you think; it’s estimated that 43% of small business owners have reported being threatened with or involved in a civil lawsuit.
Additionally, many states require contractors to carry insurance, especially if they have employees or work on certain projects. Plus, if you want to be licensed as a contractor, you will need to show proof of insurance.
Oh, and one more thing: Many customers won’t work with you if you’re not licensed and insured. There’s a lot of advice out there warning people to only work with insured contractors, so it’s a good idea to get this coverage if you want to increase your clientele base.
When you get your contractor insurance through Simply Business, we’ll provide you with a certificate of insurance (COI) so you can start providing proof of coverage.
Simply Business is an online insurance brokerage that makes it easy for general contractors to compare and get a business policy from top insurers. We’re also one of the fastest-growing online providers of insurance for small business owners, meaning thousands of customers trust us to protect their growing businesses.
So why choose Simply Business? It’s, well, simple:
We’re fast and affordable. You have better things to focus on, like running your business. Our policies are fast, affordable, and ready when you are.
We’re flexible with coverage. Whether you need increased coverage because you bought new equipment or a COI, we’re here to help.
We get your business. Forget one-size-fits-all insurance. Get the protection your contractor business needs, when you need it the most.
You’ve worked hard to build your contractor business. That’s why we offer the best coverage to protect it.
This content is intended to be used for informational purposes only. It is not intended to provide legal, tax, accounting, investment, or any other form of professional advice.
*Harborway Insurance policies are underwritten by Spinnaker Insurance Company and reinsured by Munich Re, an A+ (Superior) rated reinsurance carrier by A.M. Best. Harborway Insurance is a trade name of Simply Business, Inc., which is a licensed insurance producer in all 50 states and the District of Columbia.