General Contractors

Complete our General Contractors Insurance Quick Quote Form. Or give us a call at 952-222-8073

General Contractors Insurance, IL. Illinois general contractors and paper contractors have more exposure from lawsuits and claims.  Number one, you are normally a larger contractor.  Plus, much or all the actual work may be subcontracted out to others. You give up a lot of control when using subcontractors.

You can be named in a lawsuit whether the sub has insurance or not. Right off the bat, your policy would need to respond to defense costs. The first insurance policy a General Contractors would buy is general liability insurance. Bodily injury claims, property damage claims, or personal/advertising injury claims from third parties are expensive.  Your Illinois general contracting business needs the right coverage at the best price. Also, fast certificates and great service.

 

Who needs general contractors’ insurance?

• General Contractors
• Paper Contractors
• Home Builders
• Commercial Builders

General Contractors can need the following types of coverage:

• General Liability Insurance: Also known as Illinois commercial liability insurance.  It covers bodily injury and property damage from a third party.  It is a broad coverage.  It is the first or core policy a general contracting business would buy.
• Commercial Auto Insurance: Your commercial autos might be a van, pick-up, or box truck. You need this type of policy. Personal policies have exclusions for business and commercial use. A commercial auto insurance policy can help protect your work vehicle(s). Protection when going to/from job sites and while parked.
• Business Owners Insurance:  This is also referred to as BOP coverage.  It will provide more bells and whistle over a general liability policy.  It includes general liability insurance. But may include business income, property, personal property, sign coverage, and more. It is a bundle of coverage’s many general contractors might need. In most cases, this is the preferred policy to buy.
• Workers Compensation Insurance: Workers’ comp insurance can help cover medical bills. Also, the lost wages of an employee who are injured on the job. The state of Illinois requires workers comp if you have one or more employees.

What is General contractors Insurance?

General contractors’ insurance is an insurance policy designed to protect general contractors’ damages. Damages resulting from bodily injury and property damage from third parties. Common limits of coverage are $1,000,000 liability coverage per claim, then $2,000,000 per year aggregate coverage. Rates are determined in two ways: either owner and employee payroll plus sub-cost and materials or annual gross sales.  Typical rates using the gross sales method are $4.00 -$10.00 per thousand of sales. This wordage generally is referring to general liability insurance.

Let the professionals at Illinois General Contractors Insurance assist you. We will make the process simple and fast. We will walk you through it step by step and answer your questions along the way. Let us explain the Illinois general contractors’ insurance requirements and help you. Complete our quick quote form or give us. Illinois Contractors Insurance a call at 952-222-8073.