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Factors Influencing Insurance Costs

Several factors influence the cost of construction liability insurance, including the type of work being performed, the experience level of the contractor, and the claims history of the business. For instance, high-risk projects like roofing or demolition may incur higher premiums due to the increased likelihood of accidents. Additionally, businesses with a history of frequent claims might face higher rates compared to those with a clean record. Understanding these factors can help you make informed decisions when selecting a policy.