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Contractors insurance

Contractors Insurance

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Get the contractor insurance you need to get the job done

Next Insurance is a one-stop shop for contractor business insurance. We’ll help you get insurance online at an affordable price so you can get back to work, whether you need to quickly lock down a certificate of liability insurance for your next project or get coverage for a new employee.

Oh, and you’ll save 10% when you bundle two or more of our policies.

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Contractors insurance - Next Insurance

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How much does contractor insurance cost?

You can save up to 30% when you buy contractor insurance with Next. The exact amount you pay will depend on:

  • The types of projects you work on
  • Where your projects are located
  • Your payroll and the kinds of jobs our employees do
  • The number and types of vehicles you use at work
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Why do construction contractors need business insurance?

Business insurance offers you protection from a wide range of unexpected events and accidents, from an employee falling off a ladder to a crash involving your work truck. 

As a contractor, you’re almost always required to have insurance, in order to get licenses and to win contracts. Besides, having the right types of insurance for your contracting company means that you don’t have to pay out of pocket if an accident does occur. With the right coverage, you can do your work and focus on the job at hand without worrying about those pesky “what if” scenarios.

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How contractors liability insurance protects your business

Contractor liability insurance can help cover costs if you find yourself in the unfortunate situation of being accused of causing an injury or damaging property at a job site, or if someone says that your work mistake caused financial losses.

We combine two types of liability insurance in our business insurance packages:

General liability is the basis of solid insurance coverage for contractors. Given how much time most contractors like you spend on property that doesn’t belong to you, it’s probably not hard to imagine that at some point you could cause or be blamed for a ladder scratching a hardwood floor, or for someone tripping on your extension cord and breaking their wrist.

Errors and omissions insurance (also known as professional liability), covers you for cases where you are accused of not having done your job properly, whether that’s true or not. If someone thinks you didn’t deliver the services you agreed to provide, they can make a claim that it has to be redone. Your coverage will help pay for costs to defend your business or fix the problem.

 

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Other important business insurance coverage for contractors

Liability insurance is a good start to making sure you’re covered but you can also customize your business insurance to protect your employees, your tools and equipment and your vehicles.

We typically recommend:

Workers’ Compensation for contractors

Workplace injuries happen more frequently than you might think, especially in your line of work. Workers’ comp makes those situations easier by helping to pay for medical bills for injuries and illnesses that happen to you or your employees while on the job. Workers’ comp can also help to cover lost wages while recuperating from accidentally putting a foot in the way of the nail gun.

This coverage is required for businesses with employees in every state except Texas.

Learn more about workers’ comp insurance.

Commercial Auto insurance for construction businesses

You’ll need commercial auto insurance in most states if you own work trucks that are titled to your business.

You can use a commercial auto policy to insure your personal vehicle if you use that vehicle for your business, but you can’t apply your personal car insurance to your company car. So if you drive your own truck to job sites it probably won’t be covered under your personal car insurance.

Learn more about commercial auto insurance.

Tools & Equipment insurance for contractors

You might consider adding tools and equipment coverage if you frequently work at different locations because it will provide financial protection for your equipment wherever you go. This coverage can be added to your general liability insurance to help cover repair and replacement costs for all your gear, from allen keys to wrenches — and all the compressors in between.

Learn more about tools & equipment insurance.

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Frequently asked questions about contractors insurance

What do I need to get an insurance quote online?

We keep it simple and straightforward so you can find the coverage that’s right for you within a few minutes. When you start a quote for contractor insurance, we’ll ask you a few basic questions about your business, including:   

  • The type of contractor work you do
  • The number of employees and payroll at your business
  • The type of vehicles you use for work
  • The locations where you plan to work

How can I get a certificate of insurance?

You’ll have instant access to your certificate of insurance 24/7 from your computer or mobile device when you purchase coverage with Next. There’s no waiting for anyone, no need to print anything and definitely no fax machines. If you’re a new or current Next Insurance customer, all you need to do is login to your account and your Live Certificate delivers you the proof of insurance you need instantly, for free. You can easily share your COI with anyone via email, text message or a social media post. We provide unlimited certificates and you can also add an additional insured for free. If you decide to change your coverage, your certificate will be automatically updated. Find out more details about your certificate of insurance

I’m a jack-of-all-trades – what policy do I need?

We have a couple of policies that could be right for a jack or jill of all trades! Our Handyperson policy might be the best fit if you offer minor repair or maintenance services. This policy is limited to small jobs and is not a fit for jobs that might require a license, permit or inspection at any point. If your operations are a little bit larger in scale, or if you have a specialty, we recommend taking a look at our General Contractor application, where you will have the opportunity to add coverage from a list of coverable activities. Note: all of our policies require that you have the legally required licenses for the work you’re doing in your state, so be sure to check in to make sure you are compliant.

I’m a general contractor, does this insurance allow me to hire subcontractors?

Yes! We do require that your subcontractors have the legally required licenses, their own insurance with limits that are equal to or greater than your own, and that they have you named as an additional insured on their policy. You’ll also need to keep this documentation on file for an adjuster to review in case of a claim.

Will my policy include coverage for work that I don’t have a license for?

There are a couple of options here:

  • If your state requires a license, we do too. However, in most states where insurance is a requirement to get your license, we do offer the ability to purchase the policy on the condition that you agree to have all the required licenses before working. But it’s important to remember: if you are not operating legally, a claim will likely not be covered.
  • If your state doesn’t require you to have a license for a certain line of work you are welcome to apply for any trade specific policy, a Handyperson, or General Contractor policy. You can take a look at our jack-of-all-trades FAQ for how to decide between those two.
  • How do I change my limits?

    If you’d like to change the limit on your policy, please email us at support@nextinsurance.com including a description of the desired limit change and the effective date of the change. In some cases, this may result in a one-time charge for the difference in premiums that can be added to your next monthly payment. Once this is processed, you will receive the appropriate endorsement and confirmation of the one-time charge amount in your email inbox within 7-10 business days.