General Contractor Insurance is a comprehensive coverage package designed to protect general contractors from the various risks associated with construction projects. This insurance typically includes general liability, workers’ compensation, commercial auto, and builders’ risk insurance. It safeguards contractors against financial losses due to property damage, bodily injury, and other liabilities that may arise during the course of their work.

General contractors need insurance in Florida to protect their business from potential lawsuits, financial losses, and damages. Florida’s construction industry is subject to various risks, including accidents, property damage, and legal claims. Having adequate insurance ensures that contractors can cover these risks and continue their operations without significant financial setbacks. Additionally, many clients and project owners require proof of insurance before awarding contracts.

A general contractor in Florida should have the following types of insurance:

• General Liability Insurance: Covers property damage, bodily injury, and personal injury claims.
• Workers’ Compensation Insurance: Provides medical benefits and wage replacement to employees injured on the job.
• Commercial Auto Insurance: Covers vehicles used for business purposes.
• Builders’ Risk Insurance: Protects against damage to buildings under construction.
• Professional Liability Insurance: Covers claims related to professional errors or negligence.

Yes, Workers’ Compensation Insurance is mandatory for general contractors in Florida. State law requires construction businesses, including general contractors, to carry Workers’ Compensation Insurance if they have one or more employees. This insurance ensures that injured workers receive medical care and compensation for lost wages, reducing the financial burden on both the employee and the employer.

Builders’ Risk Insurance covers property damage to buildings and structures while they are under construction. This insurance can protect against losses due to fire, theft, vandalism, weather events, and other risks. It may also cover materials, equipment, and temporary structures on the construction site. By having Builders’ Risk Insurance, contractors can safeguard their investment in the project and ensure timely completion.

Professional Liability Insurance, also known as Errors and Omissions (E&O) Insurance, benefits general contractors by covering claims related to professional mistakes, negligence, or failure to perform their duties properly. If a contractor’s work results in a defect, delay, or other issue that causes financial harm to a client, this insurance can cover the costs of legal defense, settlements, and damages. It helps maintain the contractor’s reputation and financial stability by protecting against costly lawsuits.