contractor insurance quote
Contractor Insurance Quote
Are you a small business owner in the contracting industry seeking affordable insurance coverage? Blake Insurance Group offers a quick and easy way to get a free, no-obligation business insurance quote online. Our streamlined form allows you to compare commercial insurance coverage options from multiple top-rated providers simultaneously, ensuring you find the best protection for your contracting business at competitive rates.
Why Compare Contractor Insurance Quotes?
Comparing insurance quotes is crucial for contractors to find the most suitable coverage at the best price. By using Blake Insurance Group’s comparison service, you can:
- Discover tailored coverage options for the unique risks in the contracting industry
- Potentially reduce costs with competitive rates
- Customize policies to match your specific business needs
- Choose from several reputable insurance providers
Small Business Insurance Calculator
What Does Contractor Insurance Cover?
- General Liability Insurance: Protects against third-party claims for bodily injury, property damage, and legal expenses.
- Commercial Auto Insurance: Covers vehicles used for your contracting business, including trucks, vans, and equipment haulers.
- Tools and Equipment Insurance: Protects your valuable tools and equipment from theft, loss, or damage.
- Workers’ Compensation Insurance: Required if you have employees; covers medical expenses and lost wages due to work-related injuries.
- Professional Liability Insurance: Covers claims of negligence, errors, or omissions in your work.
- Business Owner’s Policy (BOP): Combines general liability, property insurance, and business interruption coverage into one affordable package.
Top Commercial Insurance Companies for Contractors
Here are five top-rated companies offering coverage for contracting businesses:
The Hartford: Known for its comprehensive Business Owner’s Policy (BOP), The Hartford offers specialized contractor coverage, including protection for tools and equipment. They provide flexible options to tailor coverage to your needs and offer excellent customer support. The Hartford also offers risk management resources to help prevent common contracting-related accidents.
Nationwide: With a focus on small business protection, Nationwide offers comprehensive coverage options for contractors. Their policies can include general liability, property damage, and even cyber liability protection. Nationwide is known for its strong financial stability and wide range of customizable coverage options tailored to the contracting industry.
Travelers: Offering a variety of insurance products for contractors, Travelers provides coverage for general liability, property, and workers’ compensation. They have industry-specific expertise and offer risk control services to help contractors minimize potential losses. Travelers also provides online tools for easy policy management.
CNA: As one of the largest commercial property and casualty insurance companies in the US, CNA offers specialized coverage for contractors. They provide risk control services to help prevent losses and claims management support when needed. CNA’s policies can be customized to fit the unique needs of your contracting business, whether you’re a solo operator or manage a large team.
Liberty Mutual: This company offers tailored insurance packages for contractors, with options for general liability, property, and commercial auto coverage. Liberty Mutual is known for its claims handling efficiency and provides 24/7 claims reporting. They also offer safety resources specifically designed for contractors in various specialties.
Why Choose Blake Insurance Group?
- Fast & Hassle-Free Quotes: Complete our quick online form in just minutes.
- Compare Multiple Providers: Get quotes from top insurance companies without contacting each one individually.
- No-Obligation Service: Getting a quote is free, with zero pressure to commit.
- Tailored for Contractors: We understand the unique risks faced by contractors and help you find coverage that fits your specific business needs.
Contractor Insurance FAQ
What types of insurance do contractors typically need?
Contractors typically need several types of insurance coverage:
- General Liability Insurance
- Workers' Compensation Insurance
- Commercial Auto Insurance
- Tools and Equipment Insurance
- Professional Liability Insurance
- Business Owner's Policy (BOP)
How much does contractor insurance typically cost?
The cost of contractor insurance varies based on factors such as business size, location, and coverage limits. On average:
- General Liability Insurance: $40 to $83 per month
- Workers' Compensation: Can vary widely depending on payroll and risk factors
- Commercial Auto Insurance: Varies based on vehicles and usage
What does general liability insurance cover for contractors?
General liability insurance for contractors typically covers:
- Third-party bodily injury
- Property damage to client's property
- Personal and advertising injury claims
- Legal defense costs if sued
Do subcontractors need their own insurance?
Yes, subcontractors should have their own insurance policies, even when employed by a general contractor with insurance. This typically includes general liability insurance and may also require workers' compensation, professional liability, and other coverages depending on the project requirements.
Is contractor insurance required by law?
While not always legally required, many clients and contracts may require proof of insurance. Workers' compensation is typically mandatory if you have employees. Requirements can vary by state and project type.
What factors affect the cost of contractor insurance?
Several factors can influence insurance premiums, including:
- Annual revenue
- Number of employees
- Types of services offered
- Years of experience
- Claims history
- Coverage limits and deductibles chosen
- Business location
How can contractors verify their insurance coverage?
Contractors can provide a Certificate of Insurance (COI) which highlights coverage, policy numbers, effective dates, and policy limits. For some projects, additional documentation like policy declarations pages or additional insured endorsements may be required.
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Blake Insurance Group
Phone: (888) 387-3687
Email: [email protected]
Hours: Mon-Fri 9:00 am to 5:00 pm
Sat-Sun: Closed
Blake Nwosu
Owner & Principal Agent