How much does insurance cost for masonry contractors?

Masonry contractors pay an average of $88 per month, or $1,055 per year, for general liability insurance, sometimes called public liability insurance. Some masonry businesses need proof of insurance for this policy to sign a commercial lease or a client contract.

A general liability policy can pay for medical expenses from third-party injuries, such as a client who trips over your mortar mixer and breaks their leg. It covers costs if someone sues your business over a bodily injury, property damage, or advertising injury.

This is the average policy for contractors who buy from Insureon:

Premium: $88 per month
Policy limits: $1 million per occurrence; $2 million aggregate
Deductible: $500

The cost of a general liability insurance policy depends on factors such as the coverage limits you choose, the size of your business, the amount of foot traffic you have, and any subcontractors or additional insured endorsements.

Learn more about how your premium is calculated and how to save money on your general liability policy.

Masonry contractors and other construction businesses pay an average of $125 per month, or $1,503 annually, for a business owner's policy.

A BOP is an insurance package that bundles two important types of coverage at a discount. It includes general liability coverage to protect against common lawsuits, and commercial property insurance to cover vandalism, theft, and property damage.

This is the average business owner's policy for a masonry contractor who buys from Insureon:

Premium: $125 per month
Policy limits: $1 million per occurrence; $2 million aggregate
Deductible: $500

The cost of a business owner's policy depends on factors such as the insurance options you choose, your business size, foot traffic, and the value of your business property.

Construction businesses and contractors pay an average of $213 per month for workers’ compensation insurance, or $2,557 annually.

Workers' comp helps cover medical payments from work-related injuries and illnesses. Even when it's not required by law, self-employed contractors often buy this coverage for financial protection against job injuries, which personal health insurance could deny.

Most policies include employer's liability insurance, which covers the cost of lawsuits related to workplace injuries. There's usually no limit to how much a workers' comp policy can pay for employee benefits, though it depends on state laws.

The cost of a workers' compensation policy depends on factors such as the number of employees you have and the type of work they do. Learn more about how workers' comp costs are calculated and how to save money on your policy.

Construction contractors and masons pay an average of $42 per month for contractor’s tools and equipment insurance, or $505 annually.

Also called inland marine insurance, this policy covers your property whether it’s at a storage unit, in transit, or at a jobsite. Tools insurance can pay for lost, stolen, or damaged tools and equipment, such as trowels, hammers, levels, tape measures, safety gear, and more.

The cost of contractor's tools and equipment coverage depends on the value of your tools and equipment and the type of work you do. Items valued at over $2,500 may need to be scheduled separately on the policy.

Construction businesses, including masonry contractors, pay an average of $268 per month, or $3,212 annually, for commercial auto insurance.

Most states require this coverage for vehicles owned by a masonry company. For personal, rented, and leased vehicles by your business, look to hired and non-owned auto insurance (HNOA) instead.

Commercial auto insurance covers financial losses in the event of an accident involving your business vehicle. It can help pay for property damage, medical bills, and legal expenses. When buying a policy, you'll need to make sure your coverage limits match the requirements in your state.

The cost of a commercial auto policy depends on your coverage needs, the value of the vehicle, and your insurance claims history. Learn how insurers calculate your premium and how to save money on your commercial auto policy. 

Masons and other construction businesses pay an average of $67 per month, or $808 annually, for professional liability insurance. Masonry contractors can often bundle this policy with general liability insurance for a discount, at a combined average of $150 monthly.

Professional liability insurance covers legal fees related to professional negligence, such as project delays or work errors. It's sometimes called errors and omissions insurance or E&O insurance.

This is the average coverage and pricing for contractors who buy from Insureon:

Premium: $67 per month
Policy limits: $1 million per occurrence; $1 million aggregate
Deductible: $1,000

The cost of professional liability insurance depends on factors such as the coverage limits you choose, the size of your business, and the masonry services you offer. Find out how insurers set professional liability premiums and how to save money on your policy. 

Construction businesses and masonry contractors pay an average of $93 per month, or $1,111 annually, for commercial umbrella insurance. You can buy this policy to boost the limits of your underlying general liability, commercial auto, or employer's liability insurance.

Umbrella insurance provides an additional safeguard and helps masonry professionals meet contractual demands for higher limits. When the underlying policy reaches its limit, commercial umbrella insurance activates to cover any costs over that limit.

The cost of commercial umbrella insurance depends primarily on the amount of coverage you purchase.

Masons and other construction businesses pay an average of $9 per month, or $112 annually, for a surety bond.

A surety bond reimburses your client if you're unable to fulfill the terms of a contract or other agreement. You may need a surety bond to get a contractor's license for certain types of work.

The cost of a surety bond primarily depends on the size of the bond.