Longmont, CO Contractors & Construction Insurance

Colorado Required Coverage for Contractors Insurance

• Worker’s Compensation– All businesses that have employees, be it one or one thousand, are legally mandated to have a worker’s compensation insurance policy. Premiums are calculated according to the state assigned codes for each occupation’s risk factor.
• Commercial Auto Coverage– Colorado law requires a minimum liability coverage of $25,000/person and $50,000/accident for bodily injury, as well as $15,000/incident for property damage for each company vehicle. Since construction vehicles are specialized for the industry and a vital component of operations, we recommend additional coverage above the minimum.
• General Liability Insurance– Most jurisdictions also require that general contractors have $1,000,000 in general liability insurance to cover personal or property claims. Excess Liability Insurance may also be required since most occupations in the construction industry are classified as hazardous.