How Much Does Commercial Insurance Cost For Contractors?
Much like the variation in the industry, the cost of insurance varies as well. For a basic commercial general liability policy, you can expect to spend around $500 a year. The more coverage you have, the higher the price. For a package that includes CGL, property insurance and tool and equipment coverage, the cost would be closer to $1000. The type of services you provide, as well as the level of risk inherent to your trade, will influence the cost of your policy as well.
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