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Connecticut Contractors Insurance: Protecting Your Business and Assets
What if a contractor’s roofing employee falls off a ladder and breaks several bones? Who covers their lost wages and medical bills?
Who is liable for the expenses? What occurs when a contractor’s work truck gets into an accident while driving between job sites?
What if an angry customer sues a contractor for sloppy remodeling work?
What if expensive contractor equipment gets stolen off a job site?
What insurance do I need in Connecticut?
The answer to all these questions is that the contractor pays massively out-of-pocket if uninsured.
The right business insurance coverage is a way to transfer the risks of the contractor’s shoulders onto the insurer.
Insurance protects your
financial security.
This helps them focus on daily operations rather than worrying about liability exposures.
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Table of Contents
What is General Contractors Insurance in Connecticut?
To legally operate as a contractor in Connecticut, you must carry specific types and minimum insurance amounts. General contractor insurance requirements include:
The backbone of any contractor’s insurance portfolio, general liability insurance for contractors protects your business against third-party injury and property damage claims.
It covers legal defense costs and compensatory damages awarded in events, including:
- A subcontractor’s power tool injured a client during a home renovation project.
- A commercial build site accident causing damage to an adjacent property.
- A client slips, falls, and suffers an injury on your office premises.
Typical policy limits start at $1 million and go higher depending on your project size and risk factors.
Construction gear is quite costly. Unless insured, it can blow a big hole in your pocket if the equipment breaks down or is stolen.
Tools and equipment coverage is one type of insurance that protects your contracting business investments in expensive equipment against theft, damage, and loss both on and off the job site.
Also known as errors and omissions (E&O) insurance, this coverage can help pay claims alleging flawed work, negligent actions, and failure to perform contracted duties.
This type of small business insurance will cover design/build firms and subcontractor specialties prone to oversights, like plumbers, electricians, and engineers.
As a contractor in Connecticut, you rely on valuable tools, equipment, and potentially even owned or leased property to conduct your business.
Protecting these assets from various risks is crucial for financial stability and operational continuity. That’s where Connecticut property insurance in CT comes in.
What Does It Cover?
Contractor property insurance typically covers:
Buildings: Your office, storage facilities, workshops, or any owned or leased structures used for business purposes.
Loss of income: Coverage for financial losses incurred due to property damage that disrupts your business operations.
Business equipment: Tools, machinery, materials, inventory, and other essential belongings used in your work.
Connecticut requires all business vehicles to have commercial auto insurance. This includes liability coverage for:
Bodily injury: Minimum of $25,000 per person, $50,000 per accident
Property damage: Minimum of $25,000 per accident
Uninsured/underinsured motorist coverage – It is also required with minimum limits matching your liability coverage.
Hired and non-owned auto insurance – Covers personal or rented vehicles used for business purposes.
Commercial auto insurance protects contractors if your Connecticut contracting business owns vehicles in a company name. This specialized insurance provides protection for your business vehicles and drivers in events like:
– Collisions involving a company truck delivering equipment and supplies between build sites.
– A field supervisor getting into an at-fault accident in a business-owned SUV traveling to meet subcontractors.
– Theft of work vans loaded with expensive tools.
Commercial policies come with higher liability limits than personal auto insurance. They also follow the vehicles, protecting whichever employee is driving regardless of fault.
All Connecticut contractors with 1 or more employees must carry workers’ compensation insurance per state law. It offers vital protection if members of your team get injured on the job by covering:
- Medical treatment like emergency care, surgery, and physical therapy.
- Lost income replacement for time off while recovering.
- Long-term benefits like disability payouts and survivor benefits.
Connecticut workers’ compensation insurance can help provide protection for your employees in events like falls from ladders, electric shocks, or back injuries from heavy lifting.
Besides, workers’ compensation insurance protects your business from expensive liability lawsuits.
Remember to account for subs, temps, and part-timers in your headcount!
Minimum Liability Limits
– $300,000 per occurrence and $500,000 aggregate for property damage.
– $300,000 per occurrence and $500,000 aggregate for bodily injury.
Higher limits are often required for large commercial projects.
Contractor Insurance Policy Limits & Exclusions in Connecticut
Optimizing business insurance in Connecticut involves more than meeting the state’s minimum liability requirements of $300k per occurrence and $500k aggregate.
You also need to set appropriate policy limits and understand standard exclusions.
The Right Insurance Limits for Contractors in Connecticut
Choosing inadequate liability limits or deductibles to save money on premiums can backfire terribly in the event of a loss.
That’s why you need the services of a trusted insurance provider.
The Allen Thomas Group advises setting liability coverage amounts based on these requirements in Connecticut:
- Average project size and location – Larger build values may require higher liability limits
- Number of employees – More claims exposure calls for greater coverage
- Subcontractor dependencies – Relying on subs opens you to more liability if they’re not fully insured
- Equipment values – Tools, machinery, and fleet vehicles should be insured to total replacement cost.
- Revenue levels – Bigger budgets justify higher limits to leverage your income streams fully.
- Asset portfolios – More property at risk may warrant excess liability or umbrella policies too.
The last thing you want is to get hit with a massive lawsuit or property damage claim only to discover your policy caps out at a fraction of the actual damages.
Connecticut Insurance professionals at The Allen Thomas Group have deep expertise in analyzing contractor exposures and dialing in coverage limits appropriate for clients’ risk profiles.
Commercial Insurance Solutions Customized For Connecticut Contractors
Yes, Getting A Certificate Of Insurance Is Really That Easy
We know the process of finding the right insurance can be quite frustrating and overwhelming. Undoubtedly, it can affect your ability to take care of your customers, especially when you are waiting for bonds or a Certificate of Liability Insurance.
Let us help fix it for you.
Tell us about your specific needs and we will find the right policy for you.
Review the results of our search.
We will walk you through your new policy step by step.
We’ve helped thousands of Construction Owners Just Like You
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Get A Fast Insurance Quote at The Allen Thomas Group For Your Connecticut Contractor Business
Connecticut general contractor businesses should choose The Allen Thomas Group as their trusted insurance agency because we offer unmatched expertise and insurance advice tailored to the needs of Connecticut contractors.
For over 25 years, The Allen Thomas Group has worked closely with general contractors, subcontractors, home builders, and tradespeople across Connecticut to secure comprehensive insurance packages protecting their businesses and assets.
We understand what contractors need and different types of business insurance that can secure your assets and safeguard your reputation.
Our independent agents thoroughly understand the risks contractors face on job sites and the complex state insurance requirements they must comply with.
We simplify the process of getting properly insured, saving contractors time and money.
The Allen Thomas Group also has strong relationships with leading construction insurance carriers in Connecticut.
This allows us to pair contractors with policies offering robust, specialized protection at competitive rates.
We shop multiple carriers to get clients the best value.
Contractors can trust The Allen Thomas Group to have their back. We combine deep insurance technical know-how with a consultative approach to truly understand each client’s business in Connecticut state and guide them in choosing customized contractor insurance solutions.
Get a certificate of insurance immediately with The Allen Thomas Group as proof of insurance.
Connecticut Construction and Contracting Trades Our Insurance Agency Provides Insurance Coverage
- Appliance Repair
- Carpenter
- Concrete Contractor
- Drywall Contractor
- Electrician
- Electrical Equipment Installation
- Excavation
- Fence Installation
- Flooring Contractors
- General Contractor
- Glass and Glazing Contractor
- HVAC Contractor
- Handyman Services
- Home Renovation and Remodeling
- Landscaper
- Masonry
- Painter
- Paving Contractor
- Plumber
- Roofing Contractor
- Sheet Metal Contractor
- Septic Tank Contractor
- Snow Plowing
- Steel Erectors
- Tile and Stone
- Telecommunications & Equipment Installer
- Utility Contractor
FAQs on Connecticut Business Insurance
Get More Insights On Making The Right Insurance Decision For Your Company
Does Connecticut require a contractor license?
To legally perform contracting work in Connecticut, you must either:
- Obtain a license if your annual work exceeds $1,000.
- Register your business if any single job surpasses $200.
How much does contractor insurance cost in Connecticut?
The cost of contractor insurance in Connecticut will vary depending on a number of factors, including the type of work you do, your claims history, and your experience level.
However, you can expect to pay anywhere from a few hundred dollars to several thousand dollars per year for the insurance you need.
I'm just starting with small remodeling projects. Do I still need insurance in Connecticut?
Yes, even for small projects, you’ll likely need general liability insurance. This protects you from financial losses if you cause property damage or injure someone while working. In Connecticut, if you exceed $1,000 in annual work or any single job surpasses $200, a license or registration is mandatory, often requiring general liability insurance.
I'm hiring subcontractors for part of my project. Do they need insurance too?
It’s highly recommended. Any Connecticut business with one or more employees should carry their workers’ comp. This reduces your own liability if they cause an accident or damage.
Check their insurance certificates and consider adding them as “additional insureds” on your policy for extra protection.
Is builder's risk insurance mandatory for construction projects in Connecticut?
No, builder’s risk insurance is not mandatory, but it’s highly advisable to protect your project from damage caused by fire, theft, or weather.
This is especially crucial for more extensive or complex projects where significant investment is involved.
My current insurance covers primary liability. How do I know if I need additional coverage like professional liability?
Professional liability insurance (E&O) protects your business in the event you make a mistake that causes damage to a client’s property.
Consider the specifics of your services and potential risks. If you offer design, consulting, or specialized expertise, having E&O insurance helps.
Additional Resources and Links for Connecticut Contractors Seeking Insurance:
Official Resources:
- Connecticut Department of Consumer Protection (DCP):
- Licensing requirements for various contractor types: https://portal.ct.gov/DCP/License-Services-Division/All-License-Applications/Major-Contractor-Registration-Application
- Information on worker’s compensation insurance: https://portal.ct.gov/WCC/Home-Services/Online-Services
- Consumer tips for hiring contractors: https://portal.ct.gov/DCP/License-Services-Division/All-License-Applications/Home-Improvement-Applications
- National Federation of Independent Business (NFIB):
- Guide to small business insurance in Connecticut: https://www.nfib.com/member-offers/
- Webinar recordings on various insurance topics: https://www.nfib.com/webinars/
Industry Associations:
- Connecticut Associated Builders and Contractors (ABC):
- Membership benefits and resources for contractors: https://www.ctabc.org/
- Educational events and workshops on risk management and insurance: https://www.ctabc.org/
- National Association of Home Builders (NAHB):
- Information on builder’s risk insurance and other construction-related coverages: https://www.nahb.org/
- Resources for navigating construction regulations and safety protocols: https://www.nahb.org/
Additional Tools and Resources:
- Insurance Information Institute (III):
- Educational articles and brochures on various types of business insurance: https://www.iii.org/
- Glossary of insurance terms and definitions: https://www.iii.org/resource-center/iii-glossary
- Quote comparison websites:
- Several online platforms allow you to compare quotes from multiple insurance carriers:
- Several online platforms allow you to compare quotes from multiple insurance carriers:
- Connecticut Department of Consumer Protection (DCP):
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