Contractor Insurance in New Hampshire
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Why do New Hampshire general contractors need insurance?
The largest sector in the Granite State is construction. It is estimated that around 15,883 sole-traders are employed in the field. A majority of them are registered general contractors. New Hampshire contractors are covered by insurance.
Construction sites can often be dangerous locations to work in. An accident could lead to an expensive liability problem for small-sized companies. Contractor insurance is important for New Hampshire businesses to protect their hard work from accidents, delays, accidents and other issues that are common.
Contractor insurance refers to different kinds of coverage that a General Contractor may consider.
- General Liability insurance
- Business Owner’s Policy
- Workers’ Compensation insurance
Find out more about New Hampshire contractor’s insurance and how you can get the most suitable policy for your business with BizInsure.
Who needs contractor insurance in New Hampshire?
Many contractors have insurance policies in place to safeguard their personal and business financial assets. General Liability coverage and other types of policies can act as a safety-net for your company and you.
Certain clients may require certain kinds of insurance (this is often stipulated in contract). In New Hampshire, Workers’ Compensation insurance is required for all companies with at least one employees.
Select your profession to learn more about the insurance options that are available, and then request with a quote to get a customized insurance quote.
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What are common insurance policies for contractors in New Hampshire?
New Hampshire contractors typically take a look at various types of insurance. These insurance policies can help you reduce the risks that contractors could face.
General Liability insurance
Also referred to as Commercial General Liability (CGL) or “slip and fall coverage”, this insurance can protect your business against bodily injury or property damage lawsuits from outside parties.
Business Owner’s Policy
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.
Workers’ Compensation insurance
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. In New Hampshire, Workers’ Compensation insurance is required for all companies with at least one employees.
What does contractors insurance policies cover in New Hampshire?
Insurance for contractors can protect your business against many types of risk. Depending upon the type of insurance you choose, certain events could be covered such as:
- Third-party and property damage injury claims
- Unexpected business interruptions(Business Owner’s Policy)
- Equipment breakdown(Business Owner’s Policy)
- Workers are injured and ill-health at work
How much does contractors insurance cost in NH?
The cost of insurance for businesses varies because insurers consider many aspects when determining the cost for each company. The price you pay for your company could be based on factors like:
- What type of insurance do you want to look for
- Size of your business (annual revenues)
- How many people can be covered under the policy
- Your claim history
- The amount of coverage you select
How do I obtain general contractor insurance in New Hampshire?
BizInsure can help you protect your contracting company.
Compare multiple quotes within 10 minutes to determine the most suitable coverage for your needs. All policy documents are delivered directly to your mailbox.
Need some help? Our licensed agents are available to assist you at any point in the process.
Compare multiple quotes for New Hampshire general contractors today to get the most suitable coverage for your budget.
Learn more about insurance for general contractors in the states where you work.
As with any insurance, coverage will be subject to the terms, conditions and exclusions contained in the policy wording. The information contained on this guide is general only and should not be relied upon as advice. The number of quotes provided varies between products, occupations and other underwriting factors determined by the insurers.
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