An accident at a construction site could spell disaster for your small business. Business insurance for contractors helps cover expenses related to worksite injuries, stolen equipment, and other risks you face every day.
Find the right coverage
NIS helps general contractors find construction insurance that matches your unique risks.
Get free expert advice and peace of mind knowing you have the right coverage for your small
business.
What Types of Commercial Insurance Do General Contractors Need?
It covers basic risks, such as a client who trips over your toolbox and suffers an injury. Bundle with commercial property insurance for savings in a business owner’s policy.
Best For:
- Customer bodily injuries
- Damaged customer property
- Product liability insurance
Most states require it for general contracting businesses that have employees. It also protects sole proprietors from work injury costs that health insurance might deny.
Best For:
- Employee medical expenses
- Missed wages
- Employee injury lawsuits
It covers the cost of injuries and property damage in accidents involving a general contractor’s vehicle. It can also pay for repairs to vehicles damaged by weather or vandalism.
Best For:
- Physical damage and collision coverage
- Medical costs from an auto accident
- Vandalism and theft
Tools & Equipment
It helps pay for repair or replacement of an independent contractor’s saws, nail guns, hammers, and other tools if they are lost, stolen, or damaged.
Best For:
- Equipment less than five years old
- Equipment that travels to job sites
- Small tools
It is also called errors and omissions (E&O). It covers legal fees when a general contractor is sued over a mistake, such as using the wrong materials.
Best For:
- Accusations of negligence
- Failure to complete a project
- Failure to meet specifications
It is an agreement between a general contractor, a client, and an insurance company. It guarantees the insurer will reimburse the client if the general contractor fails to fulfill the terms of their contract.
Best For:
- Project delays
- Loss of key staff
- Failure to obtain materials
