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Home » Contractors Insurance

Contractors Insurance

Contractors encounter numerous risks as part of their job. Whether those hazards come from running a business or working on a project at a job site, no operations can avoid them completely. Securing comprehensive business insurance can provide essential financial coverage for you, your employees and clients. It can reduce your company’s out-of-pocket burden and provide peace of mind in knowing you are covered. 

The professionals at Academy Insurance Agency Inc. in Leesburg, Virginia, are ready to help you analyze your needs and assist you in getting the business insurance you need. Contact us today for more information. 

What Does Contractor Insurance Cover? 

Contractor insurance is not a fixed policy. Rather, it refers to multiple types of business insurance that may offer coverage for the perils contractors often face. Types of insurance that are typically available include: 

  • Liability insurance—This may provide coverage for third-party injury or property damage claims against your business. It may compensate them for their losses and pay for associated legal expenses (e.g., attorney fees, settlement and judgments). Several types of liability insurance, each of which offers protections against specific types of liabilities you may face, may be available, including:
  • Commercial general liability (CGL) insurance
    • Products liability insurance
    • Completed operations liability insurance
    • Pollution liability insurance
    • Professional liability insurance (or errors and omissions insurance)
    • Employment practices liability insurance
    • Commercial crime liability insurance
    • Cyber liability insurance
    • Additionally, umbrella insurance can provide another layer of coverage if a liability claim exceeds the limits of your other liability policies.
  • Commercial property insurance—This may financially protect your business’s property (e.g., your building and its furnishings) if a covered cause of loss (e.g., severe weather) damages or destroys it. It may provide repair or replacement costs.
  • Builder’s risk insurance—This may provide financial protection for a building under construction, supplies or materials while a construction project is underway if they are damaged by a covered peril (e.g., fire). This may apply to items at the job site, in transit or temporarily in storage.
  • Contractor’s tools and equipment insurance—This may provide repair or replacement costs if your portable tools and equipment are stolen, damaged or lost.
  • Commercial auto insurance—If your business-owned vehicles are in an accident or damaged, this may provide coverage. If your business uses personal or rented vehicles for work-related reasons, hired and non-owned auto insurance (HNOA) may also be available.
  • Workers’ compensation—This may provide medical expenses or wage replacement payments if an employee suffers a work-related injury or illness.


Other endorsements, add-ons or policies may be available. Your agent can provide more information on options, limits and exclusions.

You may also wish to secure surety bonds that guarantee that your business will adhere to a contract’s terms or meet applicable regulations. They can help build trust with your clients, and in some cases, they may be required.

Who Needs Contractor Insurance? 

Several types of contractors should consider obtaining business insurance. Whether you are a general contractor, subcontractor, artisan contractor or independent contractor, various policies may provide coverages for multiple risks.

How Much Is Contractor Insurance?  

Several factors influence the cost of business insurance for contractors. The size and location of your business, as well as your trade, claims history and selected coverages may affect premiums.

How To Get Contractor Insurance 

The knowledgeable team at Academy Insurance Agency can help you secure the business insurance that is right for your operations. We have been in business for over 50 years and are ready to provide assistance. Contact us today to get started.