Construction businesses in PA have a lot to deal with in order to keep money rolling in and keep customers happy. Staying on top of costs while maintaining effective coverage for business risks is essential to a successful construction business. This necessity is what drives many construction business owners to wonder about the cost of insurance for construction businesses in PA. That’s why we’ve created this guide to talk about how much business insurance costs in Pennsylvania.
The Average Cost Of Insurance For Pennsylvania Construction Businesses
While the cost of construction insurance depends on a few factors such as company size, risk level, number of employees, type of construction business, and amount/value of equipment, the average range is between $750 and $1000. This cost considers a few different types of insurance that construction businesses should have. The types of insurance that construction businesses need to pay for in Pennsylvania should have are broken down below.
What Insurance Do PA Construction Businesses Need To Pay For?
Every business in Pennsylvania is required by law to have worker’s compensation insurance and general liability insurance, and if your business has a vehicle, it needs commercial auto insurance. These coverages can range between $150 to $200, $50 to $100, and $150 to $250 for worker’s comp, general liability, and commercial auto coverage, respectively. While these are the required coverages, many construction companies should also consider getting insurance for equipment, which can cost $20-$100 depending on how many tools your business has. Another good policy to have is errors & omissions liability, which could protect against mistakes in estimating or installation for around $30-$100.
While many businesses have more types of coverage than just the ones listed, this gives a good starting point for construction business owners to look at their coverage and see if they are getting the protection they need for their money.
Trust Strickler Insurance For Construction Business Coverage
As a local independent agency, Strickler insurance has been helping construction business owners in our community get the coverage they need to be successful at a price that works for them. No matter what kind of construction business you have, we have a construction insurance policy that works for your needs and budget.
Contact Strickler Insurance to get a quote and see what is possible for your construction business.
