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Frequently Asked Questions

What is General Liability Insurance? Also known as, business liability insurance, protects you and your business from “general” claims involving bodily injuries and property damage. Almost every business has a need for general liability insurance.

How much General Liability coverage do I need? The rate we quote is for $1,000,000 per occurrence and $2,000,000 aggregate. This is the standard for Commercial General Liability Insurance and is required by 99% of additional insureds.

Does this policy cover Professional Liability? Yes. This covers you for $15,000 in professional liability with a $500 should you make an error or omission in your business.

What if I do other type work then the code I picked? Am I still covered? Yes..If you do a lot of different things you can probably use the handyman code.

Am I covered for roofing? No. Please call us for a roofing insurance quote if you are doing roofing. The rate usually starts at about $3,000

What if I subcontract over 25% of my revenue? You will not qualify for this program, but we have many other insurance companies we can shop that will fit your needs.

Does this policy include Additional Insureds for my certificates? Yes. This policy includes unlimited additional insureds at no charge

Is there a charge for each additional insured? No

Is there a cost to add other persons/companies to my policy? No

Does this policy offer tools coverage? It does not, but we can add for around $150 per year.

If I cancel this policy, do I receive money back for my unearned premium? Yes. You receive the unearned portion of your premium minus fees and taxes which are full earned at binding coverage.

What is the rating of the Insurance Company? The insurance company is AmTRust and they are one of the largest contractors insurance companies in the county. They have an AM Best rating of A.

Does Contractorsliability.com sell other types of insurance? Yes. We sell all types of commercial insurance including Commercial Auto, Workers Compensation, Pollution Liability, Builders Risk as well as professional liability.

What if I need additional endorsements? We can add endorsements onto this policy. They are fully earned at binding and can usually get done in less then a day.

What if I do more or less in revenue then stated? This is an auditable policy and you will be asked to verify your revenue/sub-contractor costs/employee payroll at end of policy period. If you do more than the amount stated, you have an additional premium due.

Is this policy renewed automatically? Yes, this is renewed automatically, and your bill/payment schedule will be emailed to you before your next renewal.

How do I contact customer service? Call us any time at 1-877-207-6255.

What if I do not qualify? Call us! We have many other places to put your business outside of this program. We can find you a policy!

Will I have a survey from the insurance company after the policy is bound? Yes. You will be expected to answer the survey with the same information you put in your application or your policy could be cancelled or asked for additional premium.

If you have additional questions or concerns, please do not hesitate to call or chat with us any time. Thank you for the opportunity to compete for your business and best of luck with your trade. We hope it is a big success for you!

Why do I need insurance if I am a general contractor andsubcontract out 100% of my business to insured sub-contractors?

Your limits are split with your subcontractor giving you substantially less coverage.
What if something is your fault or happens from your direction?!
Do you really know what your sub-contractor is covered for?
Do you think your sub-contractor’s insurance company will have your best interest in mind?

How much is the down payment? Our down payments are usually about 30% down of the annual premium but can depend on product and state.

What is blanket additional insured? This is an endorsement on your policy that lets additional parties (landlords, general contractors, building owners,mortgage companies) be listed as and additional insured. If you and they are sued than they are with you on your policy instead of their own with respects to liability. With respects to property, the mortgagee receives the check from the insurance company and doles out the money when damage is fixed.

What is primary wording? This term is commonly used in contract insurance requirements to stipulate the order in which multiple policies triggered by the same loss are to respond. For example, a contractor may be required to provide liability insurance that is primary and noncontributory. This means that the contractor’s policy must pay before other applicable policies (primary) and without seeking contribution from other policies that also claim to be primary (noncontributory).

What is waiver of subrogation? A waiver of subrogation is a special type of endorsement on a property-casualty insurance policy. The Waiver of Subrogation prohibits the insurer from attempting to seek restitution from a third party who causes any kind of loss to the insured.

How much does an umbrella policy cost? It depends on the state and how much the underlying premium. It can be as high as $10,000 per million and as low as $400 per million.

What does workers compensation cover me for? Workers’ compensation is a form of insurance providing wage replacement and medical benefits to employees injured in the course of employment in exchange for mandatory relinquishment of the employee’s right to sue his or her employer for the tort of negligence.

Do I need workers compensation if I do not have employees? Yes you do. The reason for this is if you hire a sub-contractor that is uninsured and he is hurt it will cover them. This is the reason your general contractors or clients make you carry it and add them on as an additional insured…so they are grouped in with you if someone is injured and you cannot go after them.

How long does it take to get a policy in force? Most of our policies we can have out the door in a day… some in less than an hour.

Is coverage different in different states? YES. different states have different laws and coverage needs to be adjusted accordingly

What are minimum premiums for different type general liability policies?

  • Roofing $2900
  • Drywall $750
  • Painting $650
  • General contracting$ round 1% of revenue

Do I need an A rated carrier? Not necessarily. If you are doing work for large municipalities and large contractors you will need an A rated company. If you are doing residential work for homeowners you may not.

What is a Risk Retention Group?

Do you charge for certificates of insurance? Our agency does not charge for certificates of insurance

How quickly do you get certificates of insurance out? If in a rush we can get in an hour. Usually that day.

Why do I need Contractor’s Liability Insurance?

Contractor’s Liability Insurance is a requirement for both sole proprietors and corporations. Although you may bid for contractor’s work without proof of insurance in some cases, you are required to show your insurance before the time of work.
In most states, you are not allowed to operate without insurance, even if your client does not request it. Contractors insurance is a necessity to run a successful business.

What is the Cost of Contractors Liability Insurance?

Every contractor has different needs and exposures surrounding work. That is why it is important that you get a quote to find the exact cost for your situation. There is no specific price.
You can shop around for different rates and packages, but here at ContractorsLiability.com we do all the shopping for you.

“All positive experiences, they almost always answer the phone and if I do happen to get voicemail, I get a return call back very quickly… very prompt about getting Bonds and Certificates of Insurance to me for my company business, and they have great rates too! I would highly recommend this company.”

Jeanne, Pool Busters LLC

We work with Top A Rated Carriers

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