3 Ways to Shop and Save on Contractor’s Insurance


There are many ways to shop and save when looking online for the right contractor’s insurance for you, but only some of them are worth your time and the energy required making such an investment for your current or future business.

When looking for a contractor, you want to find someone you trust and can get to know as this is someone you’ll be working with, quite closely, for an indeterminate amount of time to come. You want that close bond, but you also want to save money. There’s nothing wrong with that! Thankfully, in this economy, you can save easily while getting a contractor for your home or business.

COVID19 took a toll on the economy and the construction industry, but there are still plenty of options out there for insuring your next project. The following list are the three best ways I’ve found to shop for an insurance company that will work for you when you need it to, but also save you or your company a lot of money!

1. The Wonderful World of Google

Ah yes, Google. The free educator of the internet. Google and Wikipedia have both become great sources of free information available to anyone in the world with an internet connection and no government-instituted filters on freedom of speech or anything like that.

However, like anything online, check your sources. Google will get you hundreds of thousands of sites to look through, but you have to make sure they are legitimate. Wikipedia, on the other hand, is easier to feel out. Make sure the articles you’re reading have good, reliable sources otherwise assume the information is fake, or worse, a downright lie.

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2. Collect Quotes from Competing Companies

In order to compare costs, you’ll need to collect information from all potential insurance agencies. I suggest making a simple spreadsheet with the monthly cost for each type of coverage in order to easily reference and compare companies against one another.

There are different types of quotes, some obligation-free and some a bit more in-depth. The ladder consists of quotes usually created after an on-site visit from a potential contractor. Obviously, the former is a smarter choice as you’ll definitely get your money’s worth (considering you’re not spending any, short of whatever it costs to use your phone or internet.)

Some businesses have a form to fill out directly on their website. If you’re in Southern California, for instance, https://www.contractorbond.org/ has a great tool to get a free contractor insurance quote. Other sites offer similar quote services but for a nominal fee. Others, like stated above, may require a lengthier process in order to create an invoice.

3. Poll Your Fellow Contractors

One of your best, most common, and easily-accessible, untapped sources of knowledge will be other working professionals in your field. Try asking around at conventions and contractor, architecture or engineering networking parties for advice in regards to what other companies or individuals have used.

More often than not you’ll find that a general contractor will hold general liability insurance at the very least, but with a plethora of other options it can be hard to feel out. Try to find people in your field specifically dealing with the bookkeeping and accounting side of the business as they’ll have the most up-to-date and researched information.

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While you may fall into a wealth of knowledge with a group of successful contractors sharing information with you, take it with a grain of salt. Investigate who you’re getting information from and make sure they’re certified to be giving any said advice.


Those three ways are the three I’ve found myself using when investigating which insurance company to go through. With dozens of variables up in the air, and the market being so unreliable, it’s good to have an easy starting off point to help ensure your business is safe in the future.

Uncertain times lie ahead and the demand for insurance is on the rise. With construction taking a particularly heavy hit due to the economy and the COVID19 pandemic, there are thankfully lots of companies out there interested in insuring new projects to help reinvigorate the market. While it’s not happening every day, it sure is getting there!

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