Contractor General Liability Insurance offers financial protection to contractors, covering the obligations they may be required to pay for damages or medical expenses resulting from bodily injury, property damage, or personal/advertising injury. Maintaining this coverage is highly advised for contractors, not only to safeguard their own interests but also because many projects demand proof of such insurance for acceptance.
If an employee sustains an injury, falls ill, or experiences a fatal incident due to work-related reasons, the workers’ compensation policy will provide necessary benefits to the affected employee or their family. These benefits may encompass medical care, temporary or permanent disability benefits, partial wage replacement, and death benefits.
The workers’ compensation policy also extends coverage to the contractor. In the event that an employee receives compensation through the workers’ comp policy, they are not allowed to file a lawsuit against the contractor.
Classification | Annual Payroll Example | Est. Monthly Comp Premium* |
---|---|---|
General (B) | $25,000 | $183-$535 |
Electrical (C10) | $25,000 | $72-$164 |
HVAC (C20) | $25,000 | $125-$258 |
Plumbing (C36) | $25,000 | $197-$294 |
Carpentry (C5) | $25,000 | $147-$328 |
Commercial auto insurance offers comprehensive coverage for various expenses that may arise from accidents. This includes the cost of lawsuits, property damage, medical bills, and other related expenses. Additionally, it provides coverage for vehicle damage caused by weather events or vandalism, as well as instances of vehicle theft. This coverage can be customized to perfectly suit the specific requirements of construction companies and contractors.
With unparalleled access to a vast network of bonding wholesalers, our Contractors' Surety Programs provide the solutions needed to maximize protection while saving money.
Our Contractors' Inland Marine programs provide ironclad protection for your tools, material, and equipment — leaving you with peace of mind to focus on the task at hand.
Our Contractors' Excess Liability programs offer additional coverage, utilizing the nation's top-rated carriers to ensure maximum peace of mind for our clients.
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