Contractor’s insurance

Like construction insurance, contractor’s insurance is business insurance, though, whereas construction insurance is taken out on individual building projects, contractor’s insurance is taken out by the contracting company for perils associated with being hired by an external party. Such cover includes theft or loss of products and raw materials, as well as the incomplete or complete projects. It also covers any losses that the company may suffer as a result of delays or incidences that may interrupt the building process.

Contractor’s insurance usually includes employer liability insurance as contractors hire contract workers as well as general liability insurance for injury or death caused on the site.