Washington Contractors Insurance

Neither too big nor small, Washington contractors of all sizes and trades can count on our team of specialists to provide the heavy lifting when it comes to significant savings or excellent service -

Why do I need Contractors Insurance?

Contractors’ insurance protects against the financial risks present at all stages of business operations.

Construction is considered one of the most hazardous industries throughout Washington state. Working at elevated heights, below grade, and using heavy equipment or dangerous chemicals leaves Washington contractors, employees, and third parties exposed to a significant risk of injury or property damage daily.

A formidable Washington contractors’ insurance package will protect your business in the event of an unforeseen incident.

Protect Against the Unpredictable

Fairbanks Insurance Brokers recommends that Washington contractors visit the Washington State Department of Labor & Industries website to stay up-to-date on contractors’ insurance prerequisites for becoming licensed or bidding on a project.

With affordable rates fit for any budget, our construction insurance professionals are committed to providing Washington contractors with a package of coverages that will offer financial protection against workplace injury or business claims.

Our Recommended Products

General Liability

Washington contractors’ general liability insurance is a shield against third-party lawsuits due to negligence by your business or an employee.

Washington contractors’ general liability provides coverage for:

  • Liability resulting from bodily injury or property damage
  • Contractual Liability for third parties
  • Products-Completed Operations
  • Defense costs

Washington contractors’ general liability insurance protects businesses against third-party claims of liability for property damage, bodily injury, and personal and advertising injury (slander and false advertising).

Workers' Comp

Washington state does not allow private workers’ compensation coverage. You must purchase your coverage from L&I or be a certified self-insured employer.

Washington contractors are encouraged to visit the Washington State Department of Labor and Industries for up-to-date insurance requirements.

Surety Bonds

Not to be confused with contractors’ insurance, a Washington contractors’ surety bond represents a guarantee to pay, similar to a line of credit.

Large customers and government entities generally require a Washington contractors’ surety bond to bid and work on a project.

Depending on the trade, the Washington State Department of Labor & Industries requires a Washington contractor license bond to become licensed.

Please visit the Washington State Department of Labor & Industries website to see if you fit these criteria.

Commercial Auto

Washington contractors use several types of commercial vehicles for their business operations.

Washington contractors’ commercial auto insurance is vital as this coverage offers liability limits, no limit on the number of vehicles on a policy, and no limit on the number of drivers to be insured.

The Washington contractors’ commercial auto policy will cover your business vehicles and trailers if you or an insured driver are liable for an at-fault accident.

Washington contractors’ commercial auto coverage protects your vehicles and trailers if damaged or stolen by a covered peril.

Inland Marine

The contractor’s tools and equipment are critical in performing business operations. The loss of tools and equipment can be financially detrimental to any contractor; therefore, transferring risk to a highly-rated insurance carrier is essential.

In most cases, dependable contractor tool coverage costs less than security cameras, chains, and expense locks.

Washington contractors’ tool and equipment insurance, also known as Washington contractors’ inland marine, will reimburse your business if your insured assets are damaged or stolen from a job site or while in storage or transit.

The four major types of property covered under the Washington contractors’ inland marine policy are:

  • Property Transported (Cargo)
  • Contractor’s Equipment (Hand Tools)
  • Computer Equipment and Data
  • Buildings under Course of Construction (Builders’ Risk)