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Insurance for General Contractor in Washington State?

I am looking to become a small general contractor in Washington State. What is the best kind of insurance to buy and what do I REALLY need. Most basic is 1 mil 2 mil but what are the other things Insurance companies forget to offer if you do not ask them direct. We will do most concrete foundations – but a licensing as a general to sub out work for excavating, saw cutting etc.

It’s going to be EXPENSIVE if you sub out more than 25% of the work. It matters a lot if you’re doing straight residential, or commercial. You might need a reporting form builders risk, commercial auto, and inland marine policies. You’ll likely need workers comp in addition to your general liability.

It’s going to be based on your payrolls for each class, including subbed out work, and your gross receipts. If your subs do NOT give you a certificate of insurance proving THEY have GL and WC, they will be treated as employees when your policy gets audited.

Expect to shell out at LEAST $10,000 to get the initial policies in place, but probably a lot more.

Talk to a local, independent agent or two (or three) regarding quotes. I believe Washington is a monopolistic state for WC, so you’ll have to buy that from the state.

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