Getting your FREE, No Obligation General Contractors insurance quote has never been easier! Barbee Jackson Insurance has the lowest rates, for the best coverage in the State of Florida. Call 1-850-389-2001 and get started TODAY!
The State of Florida requires all licensed General Contractors to carry a minimum of $300,000 in Bodily Injury and $50,000 in Property Damage or a Combined Single Limit of $300,000 (which is the most common policy form). Even though that state only requires a minimum level of $300,000, we can offer coverage in excess of $1 Million.
General Contractor Eligibility
- Residential General Contractor
- Commercial General Contractor
How Rates are Determined
Rates are determined by the owner payroll, which is set at $16,700, any employee payroll and sub-contracting costs. Additional premiums may apply for failure to provide the insurance carrier Certificate of Insurance for ALL the sub-contractors insurance. Like sub-contractors insurance, General Contractors are subject to yearly audits to verify payroll amounts.
General Contractors Best Practices
It is best practice to be listed as Additional Insured on all sub-contractor’s insurance policies. This enables the General Contractor to have an additional layer of protection and provides verification that the sub-contractor is maintaining insurance coverage.
If you are a Florida General Contractor and ready to get a Free Quote, call (850) 389-2001 and we will get started today!
Coverage Option for General Liability Insurance include:
Each Occurrence – $300,000 to $10,000,000 Policy Limits Available
This is the primary limits that provides coverage for Bodily Injury and Property Damage. Each Occurrence constitutes the amount the insurance company is will pay per incident. For example, a contractor drops a beam that hits a bystander. The policy has an Occurrence limit of $300,000 and that is the most the carrier is can pay out for this accident. If the injury exceeds this limit the insured will be held liable for the additional payments.
General Aggregate – $300,000 to $10,000,000 Policy Limits Available
The Aggregate is the most the insurance carrier is willing to payout in a policy period. If you had a General Aggregate of $300,000 and had two claims in the same policy period that totaled $400,000, the insurance carrier would payout $300,000 and you would be responsible with the remaining $100,000.
Products/Completed Operations Aggregate – $300,000 to $10,000,000 Policy Limits Available
A contractor’s completed operations coverage takes effect when the contractor’s work and/or the project has been completed. There can sometimes be disagreements as to the actual time of work completion. Essentially, time of completion is defined as follows:
- When all of the contractor’s work as laid out in the contract has been completed
- When all of the contractor’s work to be done at the job site location has been completed, if the named insured’s contract calls for work at more than one location
- When that part of the contractor’s work done at the job site has been put to its intended use by any person or organization, other than another contractor or subcontractor, working on the same project
Personal and Advertising Injury – $300,000 to $10,000,000 Policy Limits Available
The insurance company provides coverage for liability arising from personal and advertising injury, such as damage to a third party’s reputation.
Fire Damage Legal Liability – $50,000 to $300,000 Policy Limits Available
This is a separate occurrence limit that provides coverage for a fire-related damage that the contractor was held legally liable for the damage.
Medical Expense – $1,000 to $10,000 Policy Limits Available
Offers coverage for non-employees that were hurt on site and require medical attention. Medical Expense does not offer coverage for hired employees or sub-contractors. That type of coverage would be offered under Workers’ Compensation Insurance.
Optional Coverage Options
- Additional Insured – Single
- Additional Insured – Blanket
- Waiver of Subrogation – Single
- Waiver of Subrogation – Blanket
- Primary Non-Contributory – Single
- Primary Non-Contributory – Blanket
- Hired/Non-Owned Auto Liability
Additionally, You May Need to Consider Additional Policy Options
- Workers Compensation Insurance
- Primary Contractors Liability
- Commercial Auto Insurance
- Inland Marine/Equipment Floater