Contractor Insurance Coverage Requirements Calculator
Estimate the recommended minimum insurance coverage amounts for your contracting business based on project value, trade type, workforce size, and common state requirements.
Formulas Used
General Liability — Per Occurrence:
max($1,000,000 , Project Value × Trade Risk Multiplier × Work-Type Multiplier × 0.20) → rounded up to nearest $500K
General Liability — Aggregate:
max($2,000,000 , Annual Revenue × Trade Risk Multiplier × Work-Type Multiplier × 0.30) → rounded up to nearest $500K; must be ≥ 2× per-occurrence
Umbrella / Excess:
max($1,000,000 , Project Value − GL Per-Occurrence , Annual Revenue × 0.50 − GL Aggregate) → rounded to nearest $1M
Workers' Comp Premium Estimate:
(Employees × $55,000 avg payroll) ÷ 100 × Trade NCCI Rate per $100 payroll
E&O / Professional Liability:
max($500,000 , Annual Revenue × 0.25) → rounded to nearest $250K
Trade Risk Multipliers: Roofing 1.80 · Demolition 1.70 · General 1.50 · Electrical 1.40 · HVAC 1.35 · Plumbing 1.30 · Concrete 1.25 · Carpentry 1.20 · Painting 1.15 · Landscaping 1.10
Work-Type Multipliers: Government 1.75 · Industrial 1.50 · Commercial 1.25 · Residential 1.00