Uncover the Ultimate Contractor Insurance Coverage Secret

Types of Contractor Insurance

There are several types of insurance policies that contractors should consider. General liability insurance is perhaps the most essential, covering bodily injury, property damage, and personal injury claims. This type of coverage ensures that your business is protected from common risks associated with construction work.

Another critical type is workers' compensation insurance, which provides benefits to employees who suffer work-related injuries or illnesses. This coverage is mandatory in most states and helps protect your business from costly lawsuits while ensuring that your employees receive the care they need¹.

Professional liability insurance, also known as errors and omissions insurance, is vital for contractors who provide design or consulting services. It covers legal defense costs and any damages awarded if a client claims that your work was unsatisfactory or caused them financial harm².