How Much Does Asphalt Contractor Business Insurance Cost?
- Nate Jones, CPCU, ARM, CLCS, AU
- Jan 15
- 2 min read
Asphalt contracting is a high-risk industry involving heavy equipment, job-site hazards, vehicles, and public exposure. Because of this, insurance costs can vary widely depending on how your business operates. Understanding what asphalt contractor business insurance costs—and why—can help you budget properly and avoid being underinsured.
This guide breaks down average insurance costs, the key factors that affect pricing, and how Wexford Insurance can help you find affordable, contractor-specific coverage.
Average Cost of Asphalt Contractor Business Insurance
While every business is different, asphalt contractors can generally expect the following annual insurance cost ranges:
General Liability Insurance: $1,000 – $4,000
Workers’ Compensation Insurance: $3,000 – $10,000+
Commercial Auto Insurance: $1,500 – $5,000 per vehicle
Professional Liability (Errors & Omissions): $800 – $2,500
Tools & Equipment Coverage: $500 – $3,000
Commercial Property Insurance: $1,000 – $4,000
Most small to mid-sized asphalt contractors pay between $6,000 and $20,000 per year,
What Affects the Cost of Asphalt Contractor Insurance?
Several factors influence your premium:
Business Size & Revenue
Higher annual revenue and larger payrolls usually increase insurance costs.
Type of Work Performed
High-risk services like highway paving or large commercial projects cost more to insure than residential work.
Equipment & Vehicles
Heavy machinery and multiple trucks significantly impact pricing.
Claims History
Prior claims or safety violations often lead to higher premiums.
Location
State regulations, traffic density, and local litigation trends affect rates.
How to Lower Your Insurance Costs
Maintain strong job-site safety programs
Keep a clean claims history
Bundle multiple policies
Review coverage annually
Work with a contractor-focused insurance agency
Wexford Insurance specializes in contractor insurance and compares multiple carriers to help asphalt businesses find coverage that balances protection and cost.
👉 Request an asphalt contractor insurance quote from Wexford Insurance today and get pricing tailored to your business.
Why Choose Wexford Insurance
Contractor and construction insurance expertise
Access to multiple A-rated insurance carriers
Customized coverage for asphalt operations
Fast, accurate quotes with compliance guidance
Wexford Insurance helps ensure you’re not overpaying—or underinsured.
