General Contractor Insurance in Georgia

Do general contractors need insurance in Georgia?

Construction is one of the largest industries in The Peach State. More than 115,000 people working in construction are sole traders, and many of those are registered as general contractors. Contractor insurance for Georgia tradespeople helps protect many of these small-scale businesses.

Construction sites can be a risky industry to work in. An incident of a minor nature can result in a huge risk for your small company, regardless of whether you’re involved in commercial or residential construction projects. Insurance for contractors can safeguard your Georgia company from accidents and delays.

Contractor insurance is a variety of types of insurance that a General Contractor may consider.

• General Liability
• Business Owner’s Policy
• Workers’ Compensation

Find out how BizInsure helps you find the right contractor insurance policy for your Georgia business.

What are common insurance policies for contractors in Georgia?

Georgia tradespeople are often looking for different kinds of contractor insurance. These insurance policies can aid in reducing the risk that contractors could face.

General Liability Insurance

Everything can occur on a construction site. A simple mistake, such as placing your toolbox in the wrong spot–can cause a huge headache for your business in the event that someone gets injured as a result of the mistake you made.

Also referred to as Commercial General Liability (CGL) or “slip and fall coverage”, General Liability insurance can protect your business against bodily injury or property damage lawsuits from outside parties.

Georgia General Liability insurance safeguards your finances by covering your legal costs and costs associated with repairing or remedying the situation.

Business Owners’ Policy

There are times when things don’t go according to plan when working in the construction field. Broken equipment, incomplete projects and other problems can make it difficult to meet the deadlines you set.

A Business Owner’s Policy (BOP) is a convenient package of insurance that protects your business against the common risks it faces every day. The BOP product includes various coverages that may suit the unique requirements of your small business. Insurance included in a BOP can vary but usually they include protection for typical small business risks such as property damage, business interruption and liability.

A BOP can provide specific coverage options that are tailored to your company’s needs. This can be a convenient cost-effective way to protect yourself from the numerous dangers that contractors are exposed to.

Workers’ Compensation Insurance

If you rely on employees to help manage your business, it is your responsibility to look after their health and wellbeing while they are at work.

Workers’ Compensation insurance protects your company and its employees. If any of your employees get injured at work or are ill, this type of insurance will cover their medical bills. It will also cover some of their lost income if they’re unable to work because of the injury, as well as rehabilitation or physical therapy to transition the employee back into the workplace. Georgia law requires businesses with three or more employees to provide Workers’ Compensation insurance regardless of if they part-time or full-time workers.