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There are many different types of contractors who may need insurance, including:
CoverWallet’s insurance specialists will work with you to create a policy tailored specifically for your contractors business, so you only pay for the coverages you require.
Without insurance you could be held personally liable for a mistake on the job. Additionally, before bidding or taking on a job, you may be required to show proof of insurance.
The cost of insurance will depend on a few different factors including location, history of previous claims, current and past business activities, payroll amounts, the number of years you’ve been in business and the size and type of your business.
The best way to get an accurate idea of cost is to get a quote specific to the needs of your business.
Yes. Your subcontractors must have the legally needed permits, as well as their own insurance with limits equivalent to or larger than yours, and you must be mentioned as an extra insured on their policy. In the event of a claim, you'll need to maintain this documents on file for an adjuster to evaluate.
We, too, demand a license if your state does. However, in most places where insurance is required to obtain a license, we do provide the option to purchase a policy on the condition that you agree to obtain all necessary licenses prior to working.
However, keep in mind that if you aren't functioning lawfully, your claim will most likely be denied. You are welcome to apply for a policy if your state does not require you to obtain a license for a certain area of employment.
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