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As a contractor, it is important to have the proper contractor liability insurance. Contractor liability insurance was designed to protect a contractor against legal claims. Some of the items that are covered are personal injury, property damage, or negligence. In most states, contractors can bid for commercial or residential work without contractor liability insurance, however, the work can not be performed without it. The amount of insurance you will need as a contractor will vary based on the work you will be doing, among other factors.

The Responsibility of the Contractor
If you are a general contractor, it is important to make sure all your subcontractors are covered by a general liability insurance policy. Your insurance premium will drop significantly if you ensure that all others are also covered. As a business owner, it is your responsibility to reduce your own risk of being held liable in the event a job does not go exactly as planned or in the case of accident.

The Cost of the Insurance
The cost of general contractor liability insurance will depend on the liability coverages you choose for your policy. As with automobile insurance, a premium must be made and subsequent monthly installment payments are arranged to follow.