You can find various types of insurance policies for contractors, including Phoenix Arizona bonding insurance plan, which takes care of insurance coverage on a contractor performance bond, or warranty bond. Additionally there is workers comp, as with other corporations, but contractors frequently collaborate closely with their carriers to help keep premiums in order, considering that it makes up such a huge portion of payroll expenses. While different trades have different costs, it isn’t uncommon for tradesmen to be charged 15 cents on the dollar if not more. This is why, it is recommended for the business with the insurance coverage to maintain strict safety standards, stringent oversight and constant procedural maintenance.
Many of the trades with the highest premiums might be roofing contractors, framers, masons, and electrical contractors policies.
Click the links below to read more about the commercial business and professional liability insurance coverage options we provide in Arizona, California, and Las Vegas: