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INSURANCE FOR CONTRACTORS

A job well done requires the right tools and equipment. Whether you’re a general contractor or you work in a specialized trade, protecting your construction business requires the right insurance policy.

Selective understands the kind of insurance needs your contractor business requires, so you can continue to build you business.

As a successful contractor, you need insurance from a carrier that understands your unique challenges, from managing complex contract requirements to keeping your employees safe.

Selective’s construction industry experts and your local independent agent will work with you to tailor insurance protection to your needs. You’ll also benefit from our risk management solutions and value-adds like customizable subcontractor agreement templates.

You can more confidently grow your business when you choose to Be Uniquely Insured®.

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What insurance do contractors need to help them mitigate the risks identified in our 2023 General Contractors Risk Report?

TOP RISKS FOR GENERAL CONTRACTORS IN 2023

Selective’s General Contractors Risk Report examines trends, challenges, and risks in the construction industry and offers relevant solutions.

Click here to Read the Report about TOP RISKS FOR GENERAL CONTRACTORS IN 2023

TYPES OF CONTRACTORS SELECTIVE INSURES

Selective offers broad and flexible commercial contractors insurance options that can meet your unique needs. Whether you need small business insurance or coverage for a large construction firm, we have experience insuring a wide variety of contractors, including:

General contractors
Heavy contractors
Trade contractors
Carpenters
Electricians
Commercial roofers

Don't see your business type listed? Contact a local independent agent today to discuss the right coverage for your business and to get a quote.

COMPREHENSIVE INSURANCE FOR CONTRACTORS

As a contractor, your business faces risks every day. You need insurance to help protect your business assets, employees, materials, equipment, and vehicles. Working with your independent agent to understand the insurance coverage your business needs is essential.

General Liability Insurance

General liability insurance helps protect your business assets from many third-party bodily injury and property damage claims. It can provide protection for damage to premises rented to you, per project and per-location aggregate limits, and limited property damage.

Our optional Certified Insurance Service Representative (CISR) endorsement includes blanket additional insured for ongoing and completed operations. This benefit extends additional insured status to certain third parties without requiring that they be specifically named.

Our optional Contracting, Installation, Service and Repair (CISR) endorsement includes blanket additional insured coverage for ongoing and completed operations. This benefit extends automatic additional insured status to certain third parties when required by a written contract, agreement or permit without specifically listing them on your policy.

Essential coverage for contractors, commercial auto insurance can protect against liability for third-party bodily injury and property damage, as well as damage to your vehicles.

Selective’s Auto ElitePac® includes the following coverages:

Blanket additional insured where required by a written contract
Excess hired car physical damage
Rental reimbursement coverage

Lease gap (Not applicable in NY)
Towing and labor

Inland marine insurance can protect against loss of the tools, equipment, materials, and machinery you and your team rely on to get the job done. Selective offers:

Builders risk
Contractor’s equipment
Installation floater

Miscellaneous property/tools
Electronic information systems
Property in transit

Commercial property insurance can protect your office, warehouse, or other space where you store equipment or other property against loss or damage to the building, office equipment, and materials stored inside.

At your request, Selective may also provide commercial property insurance coverages, including:

Building coverage
Business personal property coverage
Business income actual loss sustained*
GreenPac®

Optional Coverage Enhancements for Contractors

Every construction job is different, with its own unique set of risks. To help overcome these challenges, look to optional coverage enhancements like:

Cyber liability insurance
Data compromise
Employment practices liability
Herbicide & pesticide applicator
Identity recovery
Management liability
Surety bonds
Third-party notices of cancellation to additional insureds
Workers compensation insurance
Worksite damages

Learn how Selective's insurance for contractors can help you grow your business.

INSURANCE FOR TRADE CONTRACTORS TAKING A CHANCE ON THEMSELVES

When trade contractors start their businesses, the type of insurance they purchase and the limits they elect are two of the more critical decisions they will make.

Click here to Learn More about INSURANCE FOR TRADE CONTRACTORS TAKING A CHANCE ON THEMSELVES

Risk Management Services

You run a successful business, which means you know how important it is to stay ahead of the risks facing your company and industry. Selective’s Risk Management experts are available to deliver strategic risk management solutions that help you keep your business running smoothly year-round. You can prioritize safety with tools and resources, including:

Best practices assessment/gap analysis
Contractual liability consultation
Workers Compensation cost containment
Driver and fleet safety programs
Exposure reduction consultations
OSHA 30-hour training

Premises liability reviews
Regulatory guidance
Safety assessment and benchmarking tools
Sprinkler system evaluation and analysis
Thermographic infrared surveys

FREQUENTLY ASKED QUESTIONS ABOUT CONTRACTORS INSURANCE

How much does contractors insurance cost?

Your contractor business is unique, and your coverage requirements, preferences, limits, and optional policy enhancements may vary from year to year or project to project. An independent agent can help you understand your risks and provide a quote that suits your specific needs.

Are contractors required to have insurance?

There is no single answer to this question. Many states require contractors to have General liability insurance. Project owners frequently prefer that contractors carry adequate insurance, and insurance can help protect you, your employees, and your business from loss. Talk to your legal counsel, business advisor, and independent agent to discover what coverage is right for you.