Insurance for a General Contractor will typically include

• General Liability Policy
• Disability
• Worker’s Comp

GL, DIS and WC are basically the minimum policies you need as a GC. Disability and Worker’s Comp are required by law in many states.

Going further would depend on other factors such as if your doing commercial work or purely residential.

Many carriers offer a “BOP” (Business Owners Policy), tailored specifically for contractors. This is a policy that bundles Commercial Property Insurance and Business Income Insurance along with the General Liability.

Let’s check out a sample Business Owners Policy for General Contractors…

• General Liability - The broader the coverage the better. If sued for causing harm to a person and/or damage to property. It also helps cover the cost of your defense – yes, you can be sued even if you did nothing wrong.
• Commercial Property - Protects the property your business owns, leases or rents, including things like buildings, equipment, inventory, furniture and fixtures. It provides coverage for loss of accounts receivable and valuable papers and records.
• Business Income - If unexpected events cause a suspension in your operations resulting from a covered cause of loss, This insurance will help replace loss of income to help you meet your continuing financial obligations such as rent or payroll.

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