The most common policy types for contractors are:
Commercial General Liability Insurance (CGL): CGL is a business insurance policy that protects you and your business from common risks you can expect to face as a contractor, such as third-party property damage and bodily injuries. CGL also covers legal and medical costs; should you be successfully sued.
Equipment & Tools Insurance: Coverage for equipment and tools covers equipment and their accessories, the property of others in your care, and portable business tools from loss or damage, including theft. Anything valued at less than $1,500.00 is considered a tool, while anything above is considered equipment.
Pollution Liability Insurance: Coverage to protect contractors against the specific risks and environmental liabilities associated with exposure to pollution while working on a covered job site.
Each insurance provider is unique, and this coverage may vary.