How Much Does Construction Insurance Cost
for Contractors, Builders & Other Construction Professionals?

Whether you're a handyman, a residential plumber, or a general contractor, you'll likely want and/or contractually need some form of small business insurance to cover liabilities, whatever your line of work. How much it will cost depends on quite a few factors, like what kind of contracting work you perform, where your business operates, and how large your business is.

To give you an idea of what to budget for business insurance, here are some sample insurance cost estimates for the following types of construction and contracting businesses:

Sample Insurance Quotes for Construction and Contracting Businesses

Sample Insurance Quotes for Construction and Contracting Businesses

The sample quotes we provide are rough cost estimates based on the annual premiums of similar construction businesses, but it's important to remember that actual costs can vary widely. What you'll end up paying depends on a lot of different things, including…

  • Revenue.
  • Your industry and specialty.
  • Your geographical location.
  • The number of employees you have and the kind of work they do.
  • Your history of filing insurance claims.

A business with lots of workers has more risk of worksite injury and their insurance will cost more. Another thing that can affect rates is if your business works with high-value clients on million-dollar homes or large-scale jobs. A local handyman who performs small repairs will pay less for insurance than a contractor in charge of a major building project, for example.

Sample Quotes

Carpenters | Carpet Installers and Removers | Construction Businesses | Door and Window Installers | Electricians | Flooring Contractors | General Contractors | Handymen | HVAC Contractors | Painters | Plumbers | Stone and Tile Installers | Window Cleaners

To compare the cost of insurance for construction and contracting businesses with small businesses in general, visit Insureon's Business Insurance Cost Analysis. New browser window icon.

What Does Small Business Insurance Cover?

What Does Small Business Insurance Cover?

Because contractors often work with potentially dangerous power tools and machinery in relatively hazardous conditions, the risk of injury, property damage, and lawsuits is high. Depending on your coverage, your small business insurance may cover the costs of lawsuits from clients and other third parties, as well as any damages you might be found liable for.

Your insurance might cover a number of scenarios, including…

  • Work-related injuries to your employees.
  • Accidental damage to a client's house or property.
  • Injuries to visitors at your worksite.
  • Disputes in job specifications.
  • Destruction or theft of tools and materials.

Often, clients require certain types of coverage for a contract. Depending on the type of work you do, you may need to purchase surety bonds to legally operate. Other policies are meant as investments so that you won't have to pay out of pocket for accidents.

How to Get Free Insurance Cost Estimates for Your Business

How to Get Free Insurance Cost Estimates for Your Business

You can receive free insurance quotes tailored to your business by submitting our online application. Our agents will send you multiple quotes form top-rated carriers in a matter of minutes.

Grab-n-Go Information

RISK MANAGEMENT EBOOK
The House Insurance Built: Risk Management for Builders & Contractors
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