Florida Contractor Insurance: Cost & Quotes From $30/mo

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To offer contractor services in Florida, possessing a valid general contractor’s license is fundamental. In this state, there are two critical categories for contractor licenses; registered or certified. It is integral for you to have an updated license to keep away from penalties or loss of your rights.

Having a Florida contractor insurance coverage is also integral and will cushion your firm from common liabilities. In this article, we discuss common Florida commercial and Florida residential contractor insurance requirements. We will also talk about how policies work and their coverage limits.

Florida Contractor Insurance Requirements

In Florida, it is crucial to have specific policies to shelter your employees, the general public, and business. The exact insurance requirements vary depending on the scope of your work. There are specific policy limits that are set by the Florida licensing board as part of Florida general contractor insurance requirements, and they include:

  • General and building contractors must have property damage of $50,000 and public liability of $300,000

  • For Florida residential contractor insurance requirements and others, a  $25,000 property damage and $100,000 and public liability coverage are mandatory

  • The minimum coverage limit for workers’ compensation insurance in Florida is typically determined by the number of employees and the nature of the work performed. The minimum coverage limit could differ from $100,000 to $500,000 per occurrence

It’s important to follow the Florida contractor insurance requirements stated above. Compliance is a must for getting a license, conducting business operations, or increasing the chances of finding big projects. 


General Liability Insurance for Florida Contractors

CoverWallet  NEXT (Best) Thimble Hiscox The Hartford
Per occurrence limit  $1,000,000 $1,000,000 $1,000,000/$2,000,000 $2,000,000 $1,000,000/$2,000,000
Aggregate limit  $2,000,000 $2,000,000 $1,000,000/$2,000,000 $2,000,000 $1,000,000/$2,000,000
Products and completed operations aggregate limit  $2,000,000 $1,000,000 $2,000,000 $1,000,000 $1,000,000
Advertising injury coverage aggregate limit  $1,000,000 $1,000,000 $2,000,000 $1,000,000 $1,000,000
Tenant’s legal liability coverage limit  $300,000/$1,000,000 $300,000 $100,000 $100,000 $1,000,000
Waiver of subrogation included? Yes No Included Can be included No
Hired/non-owned auto liability coverage included? Yes No No Can be included Can be included
Equipment breakdown floater included? No  Yes Yes Can be included Can be included
Can you get a certificate of insurance online? Yes Yes Yes Yes Yes
Name additional insureds? Yes Yes Yes Yes Yes
Deductible $0 $0 $0 $0 $0


General liability is a crucial policy for Florida contractors, as it covers common liabilities that may arise while conducting your business operations. It will shelter your business from financial losses linked to third-party claims of personal injury, bodily injury, or property damage. General liability insurance Florida contractors primarily covers judgment, defense, and settlement costs in the event of accidents involving third parties.


What Are the Covered Incidents?

  • A subcontractor, client, or passerby sustains physical harm from your work.

  • You or your employees damage someone’s property while doing your work.

  • Claims of slander, libel, or defamation against your business

  • If your completed work causes bodily harm or property damage after finishing the project

Add-Ons to General Liability Insurance for Florida Contractors

  • Umbrella liability insurance–This policy supplements the standard general liability insurance for contractors in Florida. It mainly offers extra protection against major claims.

  • Pollution liability insurance–If you work with hazardous materials, you need this add-on to cover claims that arise from environmental damage or pollution caused directly or indirectly by your work

Coverage Limits for General Liability Insurance for Contractors in Florida

If your business is accused of causing bodily injury or property damage to passersby, customers, or subcontractors, you must settle all the related damages. Your insurance will offer you a sufficient amount to cover such claims. This Florida contractor liability insurance provides a $1 million-$2 million per occurrence and aggregate limit. 


Professional Indemnity Insurance for Florida Contractors

CoverWallet  NEXT Thimble (Best) Hiscox The Hartford
Per occurrence limit  $1,000,000 $1,000,000 $1,000,000/$2,000,000 $1,000,000 $1,000,000
Aggregate limit  $2,000,000 $2,000,000 $1,000,000/$2,000,000 $1,000,000 $2,000,000
Name additional insureds? Yes Yes Yes Yes Yes
Waiver of subrogation included? Yes No Yes Can be included No
HIPAA coverage included? No No No No No
Sexual misconduct coverage included? No No No No Can be included
License defense coverage included? No No No No Can be included
Deductible  $500 $500 $500 $50/$10,000 $500


If your business provides professional services, this type of insurance is fundamental. It protects you from financial losses associated with claims of omissions, errors, and negligence. Although you are a very competent contractor, mistakes can happen, which may lead to your clients suffering severe financial repercussions. Instead of using your business finances to settle the associated claims, the insurance provider chips in and covers all costs.


What Are the Most Commonly Covered Situations?

  • Your business can be accused of offering substandard professional services that cause financial harm to third parties or clients

  • You can make a mistake while offering your professional services leading to damages and financial losses

  • You can breach a contractor, and your actions result in your clients suffering financial losses

Add-Ons to Professional Liability Insurance for Contractors

  • Abuse and molestation coverage–This is a crucial add-on that shelters your business against claims related to allegations of molestation or abuse that you or your employees may or may not have committed

Coverage Limits of Professional Liability Insurance for Contractors

The coverage limit for your business depends entirely on the individual circumstances of the claims and the size of your business. You can get coverage between $500,000 to $1 million under this policy included in Florida roofing contractor insurance and other related programs. 

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Commercial Property Insurance for Florida Contractors

CoverWallet NEXT (Best) Thimble Hiscox The Hartford
Building coverage limit (minimum) $50,000 $260,000 $25,000/$500,000 $25,000 $60,000
Contents coverage limit (minimum) $50,000 $22,000 $25,000/$500,000 $25,000 $60,000
Outdoor signs Excluded $2,500 Excluded Excluded Excluded
Accounts receivable  Excluded Excluded $5,000/10,000 Included Excluded
Money and securities Excluded $2,500 $1,000 Included Excluded
Lock and keys  Excluded $2,500 Excluded Excluded Excluded
Business interruption floater Excluded Included Included Included Excluded
Equipment breakdown floater Excluded Included Excluded Excluded Excluded
Inland marine insurance floater Excluded Excluded $10,000 Excluded Excluded
Employee dishonesty floater Excluded $5,000 $2,500 Included Excluded


Commercial property insurance helps to safeguard your business’s physical assets, such as equipment, buildings, or inventory, from any unexpected accidents. The perils covered can be vandalism, theft, storms, or fire. Regarding coverage of this policy, an insurance carrier can offer replacement cost coverage or the actual cash value coverage depending on your needs.


What Are the Common Incidents Covered by This Insurance?

  • Any damage caused by fire on your equipment, inventory, or buildings

  • Theft or vandalism of your property.

  • Natural disaster damage, such as that from hurricanes.

  • Accidental damage on your property due to falling objects and other covered perils 

Add-Ons to Commercial Property Insurance for Contractors

  • Inland marine coverage–This protects your movable property or equipment that is used off-site or frequently transported

  • Builder’s risk coverage–This add-on will cover property damage or loss during a renovation or construction project. It covers supplies, materials, and the building being renovated

Coverage Limits of Commercial Property Insurance for Contractors

The coverage limit for your physical assets will depend on the replacement costs. You should ensure you have enough money to repair or rebuild your buildings in the event of covered events. Depending on the nature of the damages, insurance companies may offer you between $10,000 and $1,000,000 in compensation.


Business Owner’s Policy for Florida Contractors

CoverWallet NEXT (Best) Thimble Hiscox The Hartford
Building coverage limit (minimum) $50,000 $260,000 $25,000/$500,000 $25,000 $60,000
Contents coverage limit (minimum) $50,000 $22,000 $25,000/$500,000 $25,000 $60,000
Outdoor signs Excluded $2,500 Excluded Excluded Excluded
Accounts receivable  Excluded Excluded $5,000/10,000 Included Excluded
Money and securities Excluded $2,500 $1,000 Included Excluded


Business owner’s policy is ideal for small businesses with relatively low risks. This comprehensive insurance is excellent for small contractors who want access to unique benefits and cost-budget-friendly policies. The policy usually contains essential policies such as business interruption, property, and general liability insurance.


What Incidents Are Covered Under BOP?

  • Damage to your business property due to theft, vandalism, or other natural disasters.

  • Bodily injury to any person that visits your business premises

  • Claims of defamation or slander

  • If the products you sell cause either property damage or bodily injury

Add-Ons to BOP for Florida Contractors

  • Employment practices liability insurance–This add-on will cover all claims related to your employment practices, such as harassment or discrimination

  • Environmental liability insurance–If your business is involved in projects that may cause environmental risks, you can include this add-on. It offers coverage for clean-up costs and damages related to pollution accidents

Coverage Limits for BOP for Contractors in Florida

The limit for your BOP depends on the covered risks and specific agreement with your insurer. But generally, you can get coverage of $1 million to $2 million for general liability insurance. For commercial property insurance, $10,000 to $500,000 is the usual limit.


Tools and Equipment Insurance for Florida Contractors

NEXT  Thimble Hiscox The Hartford
Aggregate limit $3,000/$10,000 $2,500/$5,000 $15,000/$25,000 $5,000-$10,000
Covers hired and borrowed equipment? $3,000/$10,000 $2,500/$5,000 No Yes
Miscellaneous equipment also covered? $5,000/$10,000 No Yes Yes
Offered as an endorsement to general liability insurance? Yes Yes Yes Yes
Deductible $500 $500 $0 $0


Tools and equipment insurance shields your essential tools and equipment. It covers losses and damages on these assets. You need to check the specific terms of your policy as some may not cover in-transit or off-site stored tools and equipment. Additionally, daily wear and tear are not covered under this insurance policy.


What Are the Incidents Covered Under Tools and Equipment Insurance?

  • Theft of your tools and equipment on the job site or storage facility

  • Accidental damage, such as your tools being dropped during transportation.

  • Fire and explosion that leads to damage to your tools

  • Natural disasters leading to the destruction or damage of your tools and equipment

Add-Ons to Tools and Equipment Insurance for Contractors

  • Replacement cost coverage–This add-on ensures that in the event of an accident, your insurer will reimburse you the full replacement costs, and you will be able to acquire new items of the same quality and kind

Coverage Limits of Tools and Equipment Insurance for Contractors

You can get a coverage limit of $10,000 to $50,000. But the actual amount depends on your insurance company’s terms and the covered items’ value.


Commercial Auto Insurance for Florida Contractors

As a contractor in Florida, automobiles come in handy in your operations. You will require vehicles to transport construction materials or deliver goods to your customers. But accidents involving vehicles can lead to bodily harm to the passengers or driver. They can also cause property damage. Thus it would be best to have commercial auto insurance that shields all parties in your vehicle and reimburses the costs of repairing your car after an unexpected accident.


What Are the Common Incidents Covered by Commercial Auto Insurance?

  • If your commercial vehicle is damaged after a collision or accident, it will pay for repair costs

  • Your vehicle may cause damage to a third party’s properties, such as fences or buildings

  • If your vehicle is vandalized or stolen, it will cover the costs of replacing and repairing your car

Typical Components of Commercial Auto Insurance

  • Comprehensive coverage–Covers all non-collision events such as vandalism, theft, or natural disasters

  • Collision coverage–Will pay for the repair damages of your commercial vehicle if it is hit by another car or object

  • Medical payments coverage–Pays for all the hospital bills of the passengers or driver if they sustain injuries after an accident

  • Liability coverage–Covers property damage or bodily injury of third parties if your commercial vehicle causes an accident

  • Uninsured motorist coverage–If you get into an accident with a driver without insurance or doesn’t have enough coverage, it will help settle all the related damages

Add-Ons to Commercial Auto Insurance for Contractors

  • Towing and roadside assistance–If your vehicle breaks down on the road, this add-on will cover towing costs or any other roadside assistance needed

  • Rental reimbursement–Will cover the costs of renting a vehicle if your commercial vehicle is damaged during an accident and needs repair work

Coverage Limits of Commercial Auto Insurance for Contractors

The coverage limits for this policy is $50,000 to $500,000. An insurer will first gauge the nature of the accident, evaluate your business’s losses, and develop an appropriate coverage amount.


Excess Liability Insurance for Florida Contractors 

Excess liability is included as an add-on to your Florida contractor liability insurance. This policy helps to extend the limits of your standard policies. If you get huge claims requiring a hefty amount of compensation, this insurance will chip in and cover the excess amount.

What Are the Incidents Covered by Excess Liability Insurance?

  • Slips or falls and damages caused by faulty workmanship.

  • Damage to a client’s assets caused by your business operations.

  • Claims of defamation or slander

Coverage Limits for Excess Liability Insurance for Florida Contractors

The coverage limit is determined depending on the needs of your business. Excess liability insurance limits usually range from $1 million to $10 million. 


Workers Compensation Insurance for Florida Contractors

In the contracting business, many accidents can occur, such as your employees being hurt by heavy machinery or sustaining back injuries due to lifting heavy objects. In Florida, all contractors must have this policy. You can be penalized and liable if authorities find out that you don’t have workers comp insurance.


What Incidents Can Workers’ Compensation Insurance Cover?

  • Strains and sprains that your employees suffer in the workplace

  • Respiratory diseases due to exposure to building chemicals

  • Repetitive strain injuries on your employees

Add-Ons to Workers’ Compensation Insurance for Florida Contractors

  • Occupational accident coverage–This add-on primarily supplements your primary insurance policy. It offers coverage for parties not covered by the standard workers’ compensation insurance

  • Voluntary compensation endorsement–This supplement is essential for employees who are not required by law to carry workers’ compensation insurance

  • Stop-gap coverage–If you work in different states, this coverage will shelter your employees in areas where your worker’s compensation is not applicable

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Florida Contractors Insurance Cost

Cost per Month Cost per Year Deductible
General liability insurance $30 $360 $0-$500
Professional liability insurance $36 $432 $1,000-$2,000
Commercial property insurance $42 $504 $1,000-$2,000
Business owner’s policy $67 $804 $1,500
Tools and equipment insurance $33 $396 $500-$1,000
Commercial auto insurance $45 $540 $500-$1,000
Workers compensation insurance $85 $1,020 $2,500-$5,000
Excess liability insurance $39 $468 $500-$1,000


Florida contractor insurance is $30 per month or $360 per year for a $1 million general liability policy. Factors that affect premiums are claims history, business history, policy limits, deductibles, and number of employees. Here’s a table showing the cost of a $1 million general liability policy from the best companies:

Cost per Month Cost per Year Best for
NEXT $16 $192 Best overall; Fastest general liability insurance
CoverWallet $18 $216 Comparing contractor insurance quotes online
The Hartford $20 $240 Florida contractors who want to work with an established insurance provider
Tivly $23 $276 Comparing contractor insurance quotes over the phone
Thimble $25 $300 Contractors looking for on-demand coverage
Hiscox $27 $324 Contractors with specialized coverage needs

Compare Contractor Insurance Quotes Online

Get all the best quotes from leading providers in a click of a button!

Best Florida Contractors Insurance Companies

You must be careful when selecting Florida contractor’s insurance; the following companies offer the best deals and premiums for small and large businesses. Here is a review of their pros, cons, and average cost for a $1 million general liability policy:


NEXT

Pros

  • Best overall

  • Issues an online proof of insurance instantly

  • Fastest general liability insurance

  • Great customer service and reputation

  • Excellent rates

  • Outstanding value for money

  • Get a 10% discount if you buy two or more policies 

Cons

  • Couldn’t find any

NEXT was established to offer small businesses relief regarding getting adequate insurance coverage. This company simplifies the insurance application process and ensures straightforward claims processing. For your contractor business, you can get BOP, workers’ compensation, general liability, tools, and equipment insurance, among others.

Best for: Best overall; Fastest general liability insurance 

Average cost: $16 per month

Our rating: 10/10


CoverWallet

Pros

  • You can compare coverage options from several providers

  • Their prices are pretty friendly for small contractors

  • You can use their comparison tool to gauge what each provider is offering

Cons

  • They don’t have direct control of their insurance policies, as they are a brokerage firm

CoverWallet is an insurance broker that stands out due to its ability to connect clients to various providers. This brokerage firm lets you choose affordable insurance premiums from different insurers. For your contractor business, you purchase multiple comprehensive policies at affordable rates.

Best for: Comparing contractor insurance quotes online 

Average cost: $18 per month

Our rating: 10/10


The Hartford

Pros

  • Their process of settling claims is fast

  • Offers expertise advice to clients or businesses looking for coverage

  • They respond to customers’ complaints faster

Cons

  • Limited add-ons to general liability insurance

The Hartford is an established insurer that offers contractors customizable coverage. Their experience spans over 100 years which promises you that you can get expert advice. You don’t have to worry about the settlement of claims; this company has the financial capabilities to cover even the worst catastrophes.

Best for: Florida contractors who want to work with an established insurance provider

Average cost: $20 per month

Our rating: 10/10


Tivly

Pros

  • They offer businesses competitive pricing

  • You can get flexible coverage for your business

  • They have partnered with many insurance carriers to offer you the best deals.

Cons

  • Some policies may be limited to particular states

Tivly is an excellent insurance marketplace where you interact with multiple insurance providers. With them, you have diversified options on the ideal coverage for your business. You can get some of the most competitive pricing here. Call now to compare quotes over the phone. 

Best for: Comparing contractor insurance quotes over the phone 

Average cost: $23 per month

Our rating: 9/10


Thimble

Pros

  • Offers on-demand coverage for contractors

  • You can get adequate coverage for a specific project

  • It is possible to customize your policy to suit your needs

Cons

  • They mainly specialize in short-term policies and might be better for short-term coverage.

Thimble offers insurance coverage for businesses that require insurance for specific projects. They provide sufficient coverage if you want to start a project that will take days or hours. Their costs are also very friendly for small businesses.

Best for: Contractors looking for on-demand coverage 

Average cost: $25 per month

Our rating: 9/10


Hiscox

Pros

  • Offers special discounts and deals on worker’s compensation insurance

  • Their financial stability is unquestionable

  • Can cater even to businesses with special insurance needs

  • You can purchase Florida roofing contractor insurance from this company

Cons

  • Doesn’t offer coverage in Alaska 

Hiscox is the best company if you require specialized coverage for your business. This company has a rich history of underwriting policies for businesses. Options for getting insured include general liability, commercial property, BOP, and workers compensation insurance. Hiscox can also hook you up with partners in case you need policies that it doesn’t underwrite in-house. 

Best for: Contractors with specialized coverage needs

Average cost: $27 per month

Our rating: 9/10

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