General Contractors

Essential for your protection is general contractor liability insurance. It provides protection against claims of property damage or bodily injury. It pays for the costs of third-party medical care or property repair.

General contractors – also known as construction managers – understand that with responsibility comes the potential for risks. They orchestrate construction projects, often working alongside architects while budgeting, planning, and hiring building crews. And because general contractors oversee the construction project from start to finish, they are often the ones held accountable if something goes awry in the process.

Even though the construction industry is at the whim of the economy, general contractors are in higher demand, thanks to the need for energy-efficient buildings and renovations. And while this is a time of opportunity to grow your business, it’s also a prime time to begin (or strengthen) your protection planning. That way, if a member of your building crew is injured during construction or your building fails to meet state codes, you will have the financial backing to address these unexpected situations and still have the means to keep offering your services.

Fortunately, there’s no need for guessing which insurance coverages most benefit your general contracting company. The general contracting insurance specialist agents at skyscraper insurance build plans specifically for professionals in your industry every day. We work with carriers who offer products designed for your needs, and because of our longstanding relationship, we can pass along lower rates to you.

General Contractor's insurance is coverage that can protect your business from devastating financial debts that can result from work-related accidents. It’s important to protect your livelihood with adequate coverages and limits that match your exposure in case your business is threatened.

General Contractors, subcontractors, and independent tradesman should carry commercial insurance. It not only protects your business, but it’s often a requirement by many employers before you can start working for them. Common trades that need contractors insurance include:

• Construction
• Carpenter
• Plumber
• Electrician
• Landscaper
• Painter

It’s always good to have insurance in case of mishaps, even if you don’t contractually need coverage.

How much does it cost?

One of the most influential factors that affect your general contractor's insurance cost is the type of work that’s involved in your specific trade. For example, a roofing contractor is exposed to risks that an HVAC technician isn’t, and vice versa. Therefore, you could expect their rates to differ.

Other factors that affect the cost of general contractors insurance are employees, coverage needs, vehicles, location and claims history.

https://www.skyscraperinsurance.com/general-liability-questionnaire/