Workers' Compensation for Contractors
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Better Workers' Comp Coverage for Contractors
It's getting harder and harder to find affordable workers' compensation insurance for artisan contractors and construction companies. Rates have increased over 25% in most states over the past several years. Good thing you found us.
We've been helping contractors find easy and affordable coverage for over 15 years. Our experts understand the underwriting requirements from the insurance companies and we know how to negotiate the lowest rates on coverage. That's why we've developed construction programs designed to help you get the best rates and most flexible payment options.
We partner with the best carriers writing construction coverage.
Improve cashflow and reduce the potential for big audit bills.
Get quotes from multiple insurance companies to ensure the lowest rates.
Our carriers have experienced claim managers to close claims quickly.
Our Top Construction Insurance Companies
AmeriSafe Insurance Company is a specialty carrier who write hard to place risks. They offer good rates and loss control services.
Accident Fund Insurance Company of America has a direct focus on writing workers comp coverage for contractors.
Benchmark excels at covering a broad range contractors, trim carpenters, painters, and concrete work.
UBIC offers excellent rates as well as loss control and safety resources for construction companies.
Cimarron is a fast growing insurance company providing Pay As You Go coverage in many contractor class codes.
Normandy Insurance is a diverse, fast growing insurance company underwriting a broad range of risk classes and industries.
Pie Insurance is one of the newest national insurance companies. They write a lot of contractors.
ICW specializes in workers' compensation coverage for a broad range of well-managed contractors and class codes.
FankCrum Insurance quotes a broad range of risks and often has lower rates on construction insurance. They also quote new ventures.
Shop coverage like a Pro.
Workers' Compensation Codes Related to Contractors
Employees are grouped into classification codes based on their job duties and work functions. The National Council on Compensation Insurance (NCCI) currently utilizes nearly 800 class codes to help insurance companies and agents categorize employees for rating purposes. Insurance companies set a base manual rate for each class code in order to begin pricing a policy.
Properly classifying workers is an important part of the quote process. Mis-classified employees can cost small businesses thousands of dollars. You could end up paying too much for coverage or owing more money after an annual audit.
Class Code 5645 | Residential Construction
Residential construction is a broad class code and applies to most carpentry work in connection with a residential homes up to 3 stories. Work performed may include framing, drywall, siding, rafters, roof decks, cabinets and trim work. Handyman and remodeling work also falls under this classification.
Class Code 5403 | Carpentry and Construction
When construction exceeds 3 stories it is typically classified under wc 5403. This includes apartment complexes and commercial structures. There are no restrictions for building height under this class code. It includes all carpentry work that is not classified under another code.
Class Code 8227 | Construction- Permanent Yard
This class is a common addition to many contractor operations. It applies to permanent locations or shops maintained by contractors for storage and equipment maintenance. This code is intended only for dedicated shop employees.
Class Code 5437 | Finish Carpenters
Finish carpenters specialize in interior carpentry finish such as trim work, interior doors, paneling, wood floors, staircases, cabinets, interior doors and counters. No rough carpentry such as framing is included under this class code as this code is intended for skilled specialists. Wallpapering and caulking is included under this classification.
Class Code 5474 | Painters
This class applies to most painting contractors engaged in painting various things including residential houses and commercial structures. It includes both interior and exterior walls.
Class Code 5221 | Concrete Construction
Concrete work may include floors, foundations, driveways, curbs, patios and sidewalks. Foundation repair and paving is typically included under this classification.
See Also:
Alternative State Class Codes for Contractors:
Sometimes a state will deviate from the industry class code recommended by NCCI. Instead of the NCCI code, they may require the utilization of a state specific class code for certain business segments.
| Class Code | State |
|---|---|
| 5403 | Residential Construction | California / Texas |
| 652 | Residential Carpentry | Delaware / Pennsylvania |
| 651 | Commercial Construction | Delaware / Pennsylvania |
| 648 | Finish Carpentry | Delaware / Pennsylvania |
| 5429 | Trim Carpenter | New York |
| 5201 | Concrete or Cement Work | California |
| 5200 | Concrete Construction | New Jersey / Texas |
Related: general contractors, construction, handyman, residential remodeling, carpentry, residential home builder, commercial contractor, framer, siding installation, cabinet installation, trim carpenter.
Workers Compensation Shop.com is a national Agency, licensed throughout the United States.
Get the Best Contractors Insurance Coverage
A lot of small contractors are overpaying for insurance coverage because their agent does not have access to the lowest cost insurance companies. Other business owners are using installment plans based on estimated payroll that doesn't adjust as payroll fluctuates. We help our customers find the best insurance rates for each unique state and type of business. Our Pay As You Go payment plans will improve your business cash flow. We work with new business owners and companies with higher EMR Ratings. We've been writing contractors insurance since 2005.
| Program Features |
|---|
| No Minimum Premium Requirements |
| Pay As You Go Work Comp - $0 Deposit |
| Guaranteed Cost and Deductible Options |
| National Construction Insurance Expertise |
| More Markets for More Solutions We shop renewals too |
| Commercial Package Insurance Options |
What Does Workers' Comp Cover?
Workers' comp coverage protects employees when injured. It makes good financial sense for both parties.
- Loss of income for employees unable to perform job duties
- Medical expenses for employees injured on the job
- Retraining expenses for employees unable to return
- Permanent injury or disability for lasting injuries
- Survivor benefits if employees are killed on the job
Coverage does not protect employers from everything. Sometimes employees and employers can be negligent.
- Injuries resulting from a violation of the law
- Incidents resulting from employees' use fo drugs or alcohol
- Injuries that did not occur in connection with the job
- Clear company policy violations
- Injuries that did not occur in connection with the job
Lower Your Contractors Insurance Cost
The cost of business insurance has been increasing for small businesses. General liability and workers' comp insurance have been the major cause of the increase in the cost of coverage. We've partnered with our insurance companies to provide more affordable commercial insurance solutions for our customers. Ask about our package insurance options for contractors:
Workers' Compensation and Employers Liability
Contractor Liability Insurance
Commercial and Personal Property
Umbrella Liability and more
Not all lines of insurance coverage or all class codes will be available in all states. Contact one of our workers' comp Specialists for program details on general liability and workers' compensation insurance.
Start a quote online or give one of our specialists a call at 888-611-7467.
How Much is Contractors Insurance?
The average rate our customers pay for workers' compensation under the construction class code is between $5.25 and 10.25 per $100 of payroll, depending on the state. The average cost for a general liability insurance policy is about $1,100.00.
Workers' Comp Costs
- Work Comp is priced based on payroll
- Your state and EMR Rating will affect your cost
- The type of construction work can modify rates
- Premium discounts and policy credits may apply
General Liability Costs
- GL rates for contractors are based on payroll (rated per $1000)
- Gross revenue may affect pricing
- The type of work done matters to underwriters
- Prior clams and years in business affect pricing
- SIC codes vary by industry
Do Independent Contractors Need Workers' Comp Insurance?
Most states require contractors to carry workers' compensation coverage even if they don't have any w-2 employees. Additionally, most larger contractors who hire independent contractors as subs require them to have coverage. Otherwise, they will likely have to pay additional premium for hiring an uninsured sub-contractor.
It is common for many small independent contractors to buy a workers' comp ghost policy when they do not expect to hire any employees during the policy period. A ghost policy often satisfies other contractor requirements even though they provide very little value to the insured contractor.
Then there's Trusted Service.
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How do I get started?
- Business details, locations, FEIN or SSN
- Estimated annual payroll and job duties- class codes
- Claims info or loss history- if applicable
What Happens Next?
- Our software matches you with top-rated carriers
- Our agents apply and negotiate your lowest rates
- We present and recommend your best options
Ready to Start Your Quote?
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