Andrew Troi
I have had an incredible experience with Harrison Insurance and Jennifer in particular. She is true professional and handles all questions and concerns in a timely and kind manner. I’m so glad I switched my auto and renters policy to Erie and Harrison insurance.
Andrew Troi
Kayla Courtois
Fantastic customer service! Very knowledgeable, patient, and friendly. We were a new business starting up with absolutely NO clue what to do. Fred made the process very simple and got us the coverage we needed in a field that is hard to get coverage in!
Kayla Courtois
Thomas Sweeney
Used Fred for my executor bond, he worked with me over the phone as I was out of town to fill out the paperwork. The prices were much cheaper than anywhere else I found.
Thomas Sweeney
bryan acheson
Fred and team at Harrison Insurance are awesome. I requested a review of my insurance coverage for my business and found that I was grossly under covered. Fred explained where I was needing additional coverage and why it was important. Needless to say, I'm now a client. Fred truly cares for his clients. I think my premiums basically stayed the same, for additional coverage I might add, but I would have been willing to pay more just for the service and knowing I was being taken care of. I highly recommend Fred for your business.
bryan acheson
Kayla Furrow
Harrison Insurance is a great company to work with! I worked with Fred and the personal touch he adds makes you feel like you’re truly being taken care of, like you’re a part of the family. Fred never settles for the bare minimum, and if he sees something lacking in your insurance policy, he will tell you what he can do to fix it and what kind of options you have to make sure you’re covered in every area possible. Harrison Insurance is a small town agency, but their impact is huge. If you’ve got any kind of insurance, it is always worth giving Harrison a call and seeing where you can improve your coverage while lowering your rates. You definitely won’t regret touching base with them!
Kayla Furrow
Wes Tatum
Highly recommend this company. Fred Zehrer was my agent and he provided top notch service. The process was simple and Fred saved me over $600 a year on my business vehicle insurance. I can't say enough good things about Fred and Harrison Insurance. If you want peace of mind and fair prices, this is where you need to be.
Wes Tatum

How Much is Contractor Insurance?

contractor working on job site

How Much is Contractor Insurance?

As a contractor, you know that your job comes with a certain level of risk. From accidents on the job site to damage to client property, there are many potential liabilities that you need to protect yourself against. That’s where contractors insurance comes in.

But how much does contractors insurance cost? And what factors influence the cost? In this article, we’ll break down the cost of contractors insurance and help you understand what you can expect to pay for this essential coverage.

What is Contractors Insurance?

Before we dive into the cost, let’s first define what contractors insurance actually is. Contractors insurance, also known as general liability insurance, is a type of insurance that protects contractors from financial losses due to accidents, injuries, or property damage that occur during the course of their work.

This type of insurance typically covers things like bodily injury, property damage, and personal and advertising injury. It can also provide coverage for legal fees and settlements in the event of a lawsuit.

Why Do Contractors Need Insurance?

contractors working outside on job site

Contractor insurance is essential for anyone working in the construction industry. Not only is it often required by law, but it also provides protection for both you and your clients.

Without insurance, you could be held personally liable for any accidents or damages that occur on the job site. This could result in significant financial losses and even put your business at risk.

Having contractors insurance not only protects you from these potential liabilities, but it also gives your clients peace of mind knowing that you are a responsible and professional contractor.

How Much Does Contractors Insurance Cost?

The cost of contractors insurance can vary depending on a variety of factors. On average, contractors can expect to pay anywhere from $500 to $2,000 per year for general liability insurance. However, this cost can be higher or lower depending on your specific circumstances.

Factors That Influence the Cost of Contractors’ Insurance

Several factors can influence the cost of contractors’ insurance. These include:

  • Type of work: The type of work you do as a contractor can have a significant impact on the cost of your insurance. For example, a general contractor who works on large commercial projects may pay more for insurance than a handyman who does small residential jobs.
  • Location: The location of your business can also affect the cost of your insurance. Insurance rates can vary from state to state, and even within the same state, rates can differ based on factors like population density and local laws.
  • Business size: The size of your business can also play a role in the cost of your insurance. A larger business with more employees and higher revenue may pay more for insurance than a smaller operation.
  • Coverage limits: The amount of coverage you choose can also impact the cost of your insurance. Higher coverage limits typically mean higher premiums.
  • Claims history: Your claims history can also affect the cost of your insurance. If you have a history of claims or accidents, you may be considered a higher risk and may pay more for insurance.

Additional Coverage Options

In addition to general liability insurance, contractors may also want to consider additional coverage options to protect their business. These may include:

  • Workers’ compensation insurance: This type of insurance provides coverage for employees who are injured on the job.
  • Commercial auto insurance: If you use vehicles for your business, you may need commercial auto insurance to protect against accidents and damages.
  • Professional liability insurance: Also known as errors and omissions insurance, this type of coverage protects against claims of negligence or mistakes in your work.
  • Umbrella insurance: This type of insurance provides additional coverage above and beyond your general liability policy.

How to Get Insurance Quotes

insurance forms

Now that you understand the factors that influence the cost of contractors insurance, you may be wondering how to get insurance quotes. Here are a few steps you can take to get quotes and find the best coverage for your business:

  1. Research insurance providers: Start by researching insurance providers that offer coverage for contractors. Look for providers with good reputations and positive reviews from other contractors.
  2. Gather information: Before you can get an accurate quote, you’ll need to provide some information about your business. This may include your business location, number of employees, and annual revenue.
  3. Request quotes: Once you have a list of potential insurance providers, reach out to them and request quotes. Be sure to provide accurate and detailed information to get the most accurate quotes.
  4. Compare coverage and costs: Once you have several quotes, take the time to compare the coverage and costs of each policy. Keep in mind that the cheapest option may not always be the best choice.
  5. Choose the best policy: After comparing quotes, choose the policy that offers the best coverage at a price that fits your budget.

Tips for Reducing the Cost of Contractors Insurance

While contractor’s insurance is an essential expense, there are some steps you can take to reduce the cost. Here are a few tips to help you save money on your insurance premiums:

  • Bundle policies: Many insurance providers offer discounts for bundling multiple policies. Consider getting all of your insurance coverage from the same provider to save money.
  • Increase your deductible: A higher deductible can lower your insurance premiums. Just be sure you can afford to pay the deductible if you need to make a claim.
  • Maintain a good claims history: As mentioned earlier, your claims history can impact the cost of your insurance. By maintaining a good claims history, you can potentially lower your premiums.
  • Shop around: Don’t be afraid to shop around and get quotes from multiple insurance providers. This can help you find the best coverage at the best price.

In Conclusion

Contractors insurance is an essential expense for anyone working in the construction industry. While the cost can vary depending on several factors, it is a necessary investment to protect yourself and your business from potential liabilities.

By understanding how much is contractor insurance and taking steps to reduce your premiums, you can find the best coverage at a price that fits your budget. So don’t wait any longer, get the coverage you need to protect your business today.