Florida General Contractors Insurance Cost

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General Contractors’ Insurance Pricing Near Florida

Looking to find the best prices for contractors insurance in Florida. At Affordable Contractors Insurance, we provide the best prices for Florida construction business insurance coverage. The average median price for your general liability coverage ranges from $248 to $325 per month & up to $3,000+ per year. These prices may vary depending on the type of contractors insurance in Florida you need. For example to insure your tools may cost Florida contractors from $41 to $65 per month or $500 and up per year.

Here is a quick Florida Contractors Insurance breakdown to help you understand the price to insure your construction business in Florida.

Get the prices for contractors insurance in Florida.

Type of Insurance:Low Price Monthly:High Price Monthly:Insurance Coverage:Required:
General Liability$248$325Bodily Injury - Property Damage - Faulty Work Damage Can Be Covered.YES
Contractors Tools Protection$41$65Company ToolsNO
Workman's Comp.8.86 - 8.89% x Roofing Labor Costs8.86% to 8.89% x Labor Cost = $1,250 to $1,500 AdditionalWorkers compensation typically will cover your construction workers medical bills or lost wages from on the job accidents.YES
Tricks for Florida Contractors: If you are interested in using drones to do building inspections, keep in mind insurance for this is typically not included in the contractors general liability policy.

Finding the right general contracting insurance in Florida can be a challenge, especially if you haven’t had to insure a business before. But whether you work in Jacksonville, Miami, Tampa, or anywhere else across the state, Affordable Contractors Insurance can help you get the coverage you need.

Why Do You Need Construction Business Insurance?

You might think that your company will never face a personal injury lawsuit or a lawsuit over property damage. However, even the most careful contractors make mistakes.

Even if you’re eventually found to not be at fault, legal battles over claims can become incredibly expensive. You’ll need to handle court costs and attorney fees. If a judge determines that your company is at fault, you’ll need to pay any settlement out of pocket. In some cases, a single settlement is enough to ruin a business.

Fortunately, contractors insurance can protect you from financial disasters like these.

When you have insurance, your insurer can pay for legal costs and settlements in the event of a claim. You can also purchase insurance to protect your tools, materials, company vehicles, workers, and more.

What Types of Florida General Contractors Insurance Do You Need?

There are several different types of contractors insurance, and your business may or may not need all of them. Here are some of the most common insurance types chosen by contractors:

  • General Liability: Covers claims of bodily injury or property damage caused by your company; also covers claims of defamation through advertising
  • Workers’ Compensation: Pays for medical care and compensates for lost wages if an employee is injured
  • Builders Risk: Protects buildings or projects under construction or renovation
  • Errors and Omissions (E&O): Protects you if a customer claims you performed faulty work
  • Commercial Auto: Covers your work vehicles if they cause or sustain damage
  • Pollution Liability: Covers damage and injury claims related to your company’s disposal of toxic waste
  • Inland Marine: Protects your building materials as they are being transported over land
  • Subcontractor Default (SDI): Protects you if one of your subcontractors does not complete a project or performs faulty work

At a minimum, contractors should carry general liability and workers’ compensation insurance. Different regions and cities may also have their own insurance requirements. For example, the insurance requirements for contractors in Orlando may be different from those in St. Petersburg.

If you aren’t sure what types of insurance you need, our knowledgeable agents are happy to help.

Let ACI Be Your Guide to Florida Contractors Insurance

At ACI, our mission is to provide affordable insurance for construction companies in Florida and beyond. We only work with contractors, so we’re able to understand the unique needs of contractors and help you find the best protection for the best price. Contact us today for your free, no-obligation quote!

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