Contractors Insurance in North Carolina

All general contractors operating in North Carolina must have a state license for jobs that cost $30,000 or more. They must have this license in place before they can bid on a project. Additionally, plumbers, electricians, HVAC, and fire sprinkler contractors must also be licensed by the State Board of Examiners of Plumbing, Heating, and Fire Sprinkler Contractors.

North Carolina appears to be a little more lenient than other states when it comes to requiring workers’ compensation insurance. Employers in North Carolina with three or more employees are required to carry workers’ compensation. The workers’ compensation insurance can be purchased from a commercial insurance company and businesses with approval may self-insure if they prefer. The workers’ compensation insurance requirements are administered by the North Carolina Industrial Commission.

Protect Your Business with Contractors Insurance from Fairbanks Insurance

Contractors, subcontractors, and specialty contractors in North Carolina are regularly exposed to risks from third-party lawsuits whenever they are at the jobsite. Employees working at the jobsite are also at risk for job-related injuries and illnesses. Vehicles and tools and equipment are also at risk at the jobsite, while in storage, or while in transit.

Here is What We Recommend:

General Liability

General Liability insurance from Fairbanks Insurance Brokers should be the bedrock of your business insurance package. Your general liability policy provides protection from everyday risks like:

  • Liability resulting from bodily injury or property damage to a third-party
  • Contractual liability that comes with contractual agreements you enter into
  • Products Completed Operations that protects your business if there are problems with products you produce or install.
  • Defense Costs – Any legal action that is filed against your business will require a response from an attorney. Your insurance company will pay to respond and defend your business.

Workers' Comp

Although North Carolina is a little more lenient with workers’ compensation requirements (3 or more employees), they, like other states strictly enforce the requirements they have published and businesses found not in compliance will face expensive penalties.

Commercial Auto

Any vehicle or trailer that is owned or used by your contracting business should be insured under a Commercial Auto policy. Commercial auto policies provide higher liability limits and there are typically no limits on the number of vehicles or drivers on the policy. Your commercial auto insurance provides protection for liability and damages or the replacement of your insured vehicles.

Tool Coverage

Most contractors use many types of tools and special equipment that can be very expensive to replace if they are damaged or stolen at the jobsite, in transit, or in storage. When your business is covered by a contractors’ inland marine policy from Fairbanks Insurance Brokers, these risks are transferred to a commercial insurance company that will pay to repair or replace your tools and equipment.

Surety Bonds

Although most state licensing boards require a surety bond before they will issue your license, you will likely need additional bonds for bidding on projects or working on government projects. The professionals at Fairbanks Insurance Brokers understand bonding and will find the right bond for you at an affordable price.

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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