Insurance and Bonding Basics for Small to Mid-Size Contractors

Insurance and Bonding Basics for Small to Mid-Size Contractors

Understanding the importance of insurance and bonding, the differences between them, and what options are available.

Construction work can be a tricky and dangerous business. Contractors perform a variety of trades and scopes that carry different levels of inherent risks. Failure to plan and financially protect oneself against these risks can have the potential to result in substantial financial and physical harm to both the contractor and the party for whom the contractor is working. Therefore, many projects require contractors to carry an insurance policy, a surety bond, or, in some cases, both. Contr

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