As a contractor, it’s vital that you have liability insurance. Many times, a contractor’s insurance plan will provide some amount of general liability coverage. The US Small Business Administration also recommends that business owners discuss specific risks with insurance providers to determine how much coverage is necessary.
At Insured ASAP, we offer affordable, reliable quotes on contractor’s general liability insurance from a variety of insurance companies to ensure that you get the best rate possible. Based in Illinois, we proudly provide general contractor insurance in Chicago and beyond.
Feel free to give us a call today at (800) 641-7488 for a quick and easy quote over the phone!
What Is Contractor Insurance?
Contractor insurance is a broad term that refers to insurance coverage for individuals and businesses who perform work under contract—typically in the skilled trades. It protects against financial losses resulting from bodily injury, property damage, lawsuits, or job-related accidents.
Contractor insurance is ideal for:
- General contractors
- Subcontractors
- Handypeople
- Independent tradespeople (e.g., painters, electricians, landscapers)
Policies are typically built around general liability insurance and may also include:
- Commercial auto insurance
- Workers’ compensation
- Tools and equipment coverage
- Professional liability insurance (for design/build services)
- Surety bonds
These policies are often bundled into a Business Owner’s Policy (BOP), which combines general liability and property insurance into one convenient and cost-effective package.
Benefits of Contractor Insurance:
- Meets legal and client insurance requirements
- Covers property damage and bodily injury claims
- Helps protect tools, equipment, and business vehicles
- Provides peace of mind while working on job sites
What Is Construction Insurance?
Construction insurance refers to coverage designed specifically for companies engaged in residential or commercial building projects. It includes many of the same core policies found in contractor insurance but expands to address broader project risks.
Construction insurance is essential for:
- Construction firms
- Home builders
- Developers
- Renovation companies
Typically, construction companies’ insurance requirements are:
- Builder’s risk insurance
- General liability insurance
- Workers’ compensation
- Commercial auto insurance
- Equipment and tools coverage
- Surety bonds for permitting and bid obligations
- Business umbrella insurance (for added protection)
These coverages can also be bundled into a Business Owner’s Policy (BOP), tailored to the construction industry. We will help you select the correct types of construction insurance to protect your business.
Benefits of Construction Insurance:
- Covers high-risk operations, including new builds and renovations
- Protects against property damage, injuries, and delays
- Helps meet licensing, permitting, and contract insurance requirements
- Reduces liability when managing subcontractors and job sites
- Can include builder’s risk coverage for materials and unfinished work
What Is General Contractor Liability Insurance?
General contractor liability insurance protects contractors against claims of bodily injury, property damage, and completed operations liability. It is particularly critical for general contractors overseeing multiple job sites and working with subcontractors. Many clients and municipalities require this coverage before work begins.
How Much Is Contractors Insurance?
Contractors insurance starts around $400 annually but can range into the thousands based on your trade and coverage needs. Rates are determined by:
- Type of work performed
- Business size and revenue
- Risk exposure (e.g., roofing vs. painting)
- Required policy limits
Local ordinances or client contracts may require higher-than-expected limits, especially on large projects.
What Is a Certificate of Insurance?
A certificate of liability insurance is a one-page document that verifies your business has active coverage. It’s typically requested by customers, vendors, or government entities before work begins.
The certificate includes:
- Proof of coverage
- Names of any required certificate holders
- Notification rights in the event of cancellation or policy changes
At Insured ASAP, we provide same-day certificates for contractors to help you meet compliance and keep projects moving.
Who Needs a Contractor Insurance Policy?
General contractors, independent contractors, and subcontractors are often required to carry contractors insurance by city, county, or client mandates.
Here are the most common types of contractors we insure:
- Artisan contractors
- Specialty trades contractors
- Remodeling contractors
- Roofing contractors
- Janitorial contractors
- Landscaping contractors
- Plumbing contractors
- Home building contractors
- Drywall contractors
- Masonry contractors
- Electrical contractors
- Electricians
- HVAC contractors
- Water & sewer contractors
- Painting contractors
- Painters
- Pest control contractors
- Fencing contractors
- Carpet cleaners
- Janitors
- Property preservation specialists
Call us now to quickly secure general contractor insurance in Illinois or elsewhere.
Get the Cheapest Contractors Insurance Around
The right insurance policy can protect your business, your crew, and your clients. Start by reviewing the specific risks your business faces. Then, work with one of our agents to customize a plan that meets your needs and any regulatory or client requirements.
Call our business insurance experts at (800) 641-7488 or fill out our online form to get a no-obligation contractors insurance quote today.
