Contractors' Insurance Cost Secrets That Will Amaze You

There are several types of insurance coverage that contractors might consider:

• General Liability Insurance: This covers third-party bodily injury and property damage.
• Workers' Compensation Insurance: Required in most states, it covers medical costs and lost wages for employees injured on the job.
• Professional Liability Insurance: Also known as Errors and Omissions Insurance, this covers claims related to professional mistakes or negligence.
• Commercial Auto Insurance: Essential for any vehicles used in the course of business.

Each type of insurance comes with its own cost structure, and understanding these can help you tailor your coverage to your specific needs without overspending.