Some new business ventures can start on a shoestring, without much investment in equipment. A low-cost business start-up may be necessary because the business owner lacks capital resources, but a prudent entrepreneur who has access to capital may also choose not to purchase much business equipment until it’s clear that the venture is sustainable. This approach may not work for a contractor starting a plumbing business, for example. Successful contract work depends heavily on resources such as motor vehicles, tools and specialized equipment, so starting a contract business in California is likely to require considerable investment in resources as well as the purchase of California contractors insurance to protect that investment.

Auto insurance and workers’ compensation insurance are mandatory, and a contractor starting a business is likely to find that carrying contractors insurance is a way of making the business more competitive and attractive to major clients; in fact, a contractor without good insurance coverage is likely to struggle to find work.

How much insurance do you need? Start by listing your business assets such as vehicles, tools, contracting equipment, inventory, business premises, office furniture and office equipment. Estimate the replacement value of the assets. Now, contact us to discuss your needs and we can help you to find the California contractors insurance coverage that you need to protect your investment.