FAQ_category: (HIDDEN) Industry FAQs

Yes! Workers’ compensation is legally required in nearly all states when you have employees: 

• Covers medical treatment, wage replacement, and disability benefits if a worker is injured on the job. 

• Backed by OSHA and federal standards, general contractors must ensure subcontractors also comply and coordinate safety protocols. 

• Contractors often face fines or work stoppages if proof of coverage is not maintained. 

On average, general contractors pay between $500-$1200 a year for protection.   

Cost can vary depending on your: 

• Location 

• Size 

• Value of Equipment and Tools 

Gild will work with you to find the right tailored coverage that fits your budget and your needs. 

A well-protected general contractor typically requires the following insurance types: 

• General Liability Insurance – covers third-party bodily injury, property damage, and legal defense costs if accidents occur onsite. 

• Workers’ Compensation Insurance – required in most states when you have employees; covers medical expenses and wage loss if workers are injured on the job. 

• Commercial Auto Insurance – mandatory if you operate vehicles for business use, protecting against accidents and cargo damage. 

• Professional Liability (E & O) – protects against claims of negligence, faulty workmanship, or unmet contractual obligations. 

Yes! Independent plumbers should strongly consider carrying their own coverage: 

• Unlike employees, you’re personally liable for damages if you don’t carry insurance. 

• Some states or client agreements won’t allow you to operate without proof of coverage. 

• Marketplace platforms and contractor job boards typically require independent contractors to show active insurance. 

Yes! Proper policies can cover these scenarios: 

• General Liability includes Completed Operations coverage, which handles claims from leaks or flooding long after job completion. 

• Professional Liability (E&O) may apply if a design flaw or advice leads to property damage. 

• Business Property or BOP can cover damage to your own shop/storage equipment. 

• Tools & Equipment coverage addresses losses related to stolen or damaged plumbing tools.