Contractor insurance refers to a set of insurance policies designed to protect contractors, their businesses, and their clients from various risks and liabilities associated with contracting work. It provides financial coverage in case of accidents, property damage, injuries, lawsuits, and other unforeseen events that may occur during the course of a contracting project.

Contractor insurance typically includes several types of insurance coverage that can be tailored to the specific needs of contractors and their industries. The most common types of insurance for contractors include:

General Liability Insurance for Contractors: This coverage protects against claims of property damage, bodily injury, or personal injury caused by the contractor or their employees. It may cover legal fees, medical expenses, and damages awarded in a lawsuit.

Workers' Compensation Insurance: This insurance is often legally required and provides coverage for medical expenses, disability benefits, and lost wages in the event that a contractor's employee is injured or becomes ill on the job.

Professional Liability Insurance (Errors and Omissions Insurance): This coverage is important for contractors who provide professional services or advice. It protects against claims of negligence, errors, or omissions that may arise from the contractor's work.

Commercial Auto Insurance: If contractors use vehicles for business purposes, this insurance covers accidents, property damage, or injuries that occur while using those vehicles.

Commercial Property Insurance: This coverage protects a contractor's business property, such as tools, equipment, and office space, against risks like fire, theft, vandalism, or natural disasters.

Contractors Equipment Insurance: This coverage protects a contractor’s equipment (heavy equipment, light equipment, tools, an more) in the event that the equipment is stolen, destroyed, or vandalized.

Umbrella Insurance: This type of policy provides additional liability coverage beyond the limits of other insurance policies. It offers extra protection in case a claim exceeds the coverage limits of primary policies.

It's important for contractors to evaluate their specific risks and consult with an insurance professional to determine the appropriate types and amounts of coverage for their contracting business.