home insurance liability
How much liability insurance for an artisan contractor?
What is the annual or monthly cost is (approx.) to liability insurance of a contractor craft? The work is largely commercial and tile home / work grout in kitchens and bathrooms. The business consists of only the owner / master craftsman who may have 1 or 2 people to do some work with him. The owner is well trained and very experienced. The work is done primarily in MA and certainly in New England. Any contribution will be greatly appreciated. Maybe if someone has a similar type of business, can share what their payments are monthly or yearly? Thank you!
If you've never had liability insurance before, you can not buy it because of the monthly premium. The minimum for this, for a Store man, will be $ 750. Even if you cancel after 30 days, you do not receive a refund. But with two or three guys that will be more, I'm guessing maybe $ 1500. Once you have three years of insurance history under your belt, you can go to a standard company, who offer monthly – or quarterly – Deadlines. Note, in MA, you will need to buy workers compensation for employees, and subcontractors any "safe". That is – if you underwater calls, and do not have their own workers comp policy, still on the hook for this.
