Contractors Insurance

Whether you’re a general contractor or a handyman, your business is growing — and you need your insurance to keep up.

Oyer, Macoviak and Associates we work with over 30 “A” rated companies to provide insurance policies tailored to your business. We do this by taking the time to understand your contractor business, so you can get a policy that offers full protection.

The best part? We make it simple to get insurance since, let’s be honest, your day is already stressful enough!


Frequently asked Contractor Insurance Questions

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Contractors’ insurance is a collection of policies designed to protect your business. Contractors are high risk, since they perform work at their clients’ homes or businesses. This means that if you damage or lose someone else’s property while fixing or building something, then you’re financially responsible for the consequences.

Yes, most states require to carry workers compensation insurance. Contractor insurance is something you purchase to protect yourself from financial losses. If your business causes damage to someone else’s property, then you would be liable for the costs associated with fixing it – and if you don’t have contractor insurance, then those costs will come out of your own pocket.

Insurance costs vary depending on the type of contractor you are, but typically premiums for contractors’ insurance run from $300 to $5,000 per year. Contractors who do high-risk work such as construction or excavation might pay several times that amount. Contractors with employees may need to purchase workers’ compensation and liability coverage in addition to contractor insurance. Contractors are charged higher rates by insurance companies because of the nature of their work and how much risk is involved.

Contractor insurance is broken down into three main categories: Contractors Liability – Contractor’s liability coverage protects the insured contractor from claims made by a third party for bodily injury or property damage arising out of a job. Contractors’ Equipment – Contractor’s equipment coverage reimburses you after your tools are stolen or damaged beyond repair. Contractual Liability – Contractual liability coverage protects you when someone is injured, or their property damaged while on your job site. Contractual liability coverage is typically required in the context of a construction contract, in which case it’s known as Contractors Blanket Contract (CBC) insurance.

It means that if someone is injured or their property is damaged because of your work, then you will have to pay the costs yourself. Contractor insurance protects you from financial losses so you can focus on running your business.

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Is It Worth It to Get Contractor Insurance?

We understand that, as a business owner, you’re attempting to save money where you can. That may lead you to delay purchasing contractor insurance or avoid it altogether, especially if you don’t feel it adds any value to your company.

However, here’s the catch: contractors like you are at risk of catastrophic property damage claims that may severely deplete your finances.

For example, if you are sued for causing significant property damage to a customer’s property because of carelessness, you may be required to pay for legal fees and damages out of your own pocket – or your family’s money – if you are not properly insured.

Oh, and one more thing: Many clients will refuse to deal with you if you aren’t licensed and insured. There’s a lot of advice out there telling people to only work with insured contractors, so it’s a good idea to get this insurance if you want to grow your client base.


When you get your contractor insurance through Oyer, Macoviak and Associates, we’ll give you a certificate of insurance (COI) so you can begin issuing proof of coverage.

Contractor insurance policies are available in a variety of coverages:

  • General liability insurance
  • Workers’ compensation insurance
  • Surety bonds
  • Business automobile insurance
  • Business owners’ policies
  • Umbrella coverage
  • Tools coverage

At Oyer, Macoviak and Associates we are not captive to one insurance company so we can shop the different insurance companies to give you the best coverage with the best rate.