Contractors Insurance in New Hampshire

Contractors wanting to operate in New Hampshire must be licensed by the state if they are involved in asbestos and lead abatement, plumbing, and electrical work. Licensing for electrical contractors are determined by the type of circuit involved with the job.

Contractors who will not be involved with any of the above-mentioned activities are not required to be licensed in New Hampshire.

New Hampshire’s Department of Labor requires all businesses whether for-profit or non-profit to carry workers’ compensation insurance if they have one or more employees (includes full-time, part-time, and family members).

Protect Your Business with Contractors Insurance from Fairbanks Insurance

Although the licensing requirements in New Hampshire are minimal for most contractors, your business should always be protected from everyday risks by a comprehensive commercial insurance package from Fairbanks Insurance Brokers.

Here is What We Recommend:

General Liability

Your contractors general liability insurance is the backbone of any complete commercial insurance package. If a third-party should file a legal action against your business, your general liability policy takes care of the following:

  • Costs related to property damage claims made against your business.
  • Expenses to settle claims by a third party that your business caused them personal injury.
  • Advertising injury claims made against your business.
  • Attorney fees related to settling covered claims.
  • Administrative costs to handle covered claims.
  • Court costs associated with covered claims.
  • Settlements and judgments for covered claims.

Workers' Comp

Every New Hampshire business owner who has one or more employees is responsible for their cost of work-related injuries or illnesses unless the business has a workers’ compensation policy in place. Your state department of labor will require you to carry this important coverage and will hit your business with some penalties if you ignore the rules.

Commercial Auto

Since personal auto policies generally exclude most business vehicles from coverage and do not offer limits high enough to protect your business, every business with business vehicles should have a commercial auto policy in place. Generally there is no limit on the number of vehicles to be covered and most carriers will offer limits up to $3 million.

Tool Coverage

New Hampshire contractors should consider the cost of repairing or replace their tools and equipment in the event they are damaged or stolen. Inland Marine insurance is the policy used to affordably protect your tools and equipment and your employees’ tools as well.

Surety Bonds

In most cases, a surety bond is required by licensing boards, commercial customers, government organizations and other parties that you do business with. It’s important to understand that a surety bond is not insurance but more like a line of credit that is available if because of your business operation, a customer must redeem it.

Fairbanks Insurance Brokers is a leader in providing contractors insurance and is dedicated to providing Contractors and Builders the finest insurance protection at the lowest rates throughout the construction community.

With savings up to 65% on General Liability, Workers’ Compensation, Commercial Auto and Bonds, you can count on us to do the heavy lifting and provide you the most competitive quote that includes all the discounts for which you qualify.


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