Posts Tagged ‘Contractor Insurance’

Types of contractor insurance Policies and cost

Thursday, September 22nd, 2022

When you're hiring a contractor, it's important to know the different types of contractor insurance policies that are available. Contractors are a common sight in many cities, and one of the biggest costs they face is their insurance. 

There are several different types of Architect Insurance policies, and each one has its own unique benefits and costs.

The most common type of contractor insurance policy is liability insurance. This policy covers the contractor in case they are held responsible for any damages or injuries that occur during their work. 

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Liability insurance can cost anywhere from $1,000 to $10,000 per year, and it's usually required by government agencies and large businesses.

Another type of contractor insurance policy is general liability insurance. This policy covers the contractor in case they are held liable for any damages or injuries that occur during their work, regardless of who was responsible for them. 

General liability insurance can cost anywhere from $5,000 to $250,000 per year, and it's usually required by small businesses and individual contractors.

There are also several types of contract worker policies that are available. These policies cover the workers who are hired to do work on your project as part of their employment. 

Contract worker policies can range in price from $5,000 to $500,000 per year, and they're usually required by large businesses  and corporations. Workers may also have workers' compensation insurance and are required to carry both general liability and contract worker policies, depending on their tasks.