Insurance requirements for Louisiana general contractors
As part of the licensing process, you will need business insurance in Louisiana, including:
General liability insurance for Louisiana contractors
General liability insurance is required for licensed general contractors in Louisiana. This coverage can help cover expenses for non-employees injured during a project or if there is any damage to property that doesn’t belong to you.
Residential contractors are required to have a minimum of $100,000 in coverage, mold contractors must have $50,000 and home improvement contractors must also have $100,000.
Workers’ compensation insurance
Residential, mold and home improvement contractors must submit certificates of insurance proving Louisiana workers’ compensation insurance coverage in compliance with state law. This ensures employees are covered if they become ill or get injured on the job.
Tools and equipment insurance
Tools and equipment insurance covers power tools, hand tools, and other items you might use in the course of your work as a general contractor in Louisiana. It protects the investment you made in your contracting or construction business and ensures you can continue to work in the event of loss or damage.
Commercial auto insurance for general contractors
Another type of insurance many general contractors in Louisiana consider is commercial auto insurance.
This type of insurance covers any vehicles that you use in the course of your business. It also can help to protect your business in case your employees get into an accident or are injured while driving.
Commercial property insurance
If you own or rent property for your contracting business, Louisiana commercial property insurance can protect you from damage and vandalism.
How NEXT helps support Louisiana general contractors
NEXT can help you quickly get the coverage you need to protect your business. We’ve helped thousands of general contractors find customized insurance packages to meet licensing requirements.
Get an instant quote online to explore options for your business and get a certificate of insurance in under 10 minutes.
Start a free quote with NEXT today.