New Contractors Insurance in Florida
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What do you need to get licensed? If you are a new or recently licensed contractor in Florida , or are relatively new to purchasing insurance for your company this will provide a bit more information about what you need, and why: In short, The State of Florida requires you to have at least a General Liability policy in the amounts of $300,000 for bodily injury and $50,000 for property damage for both General and Building Contractors and $100,000 for bodily injury and $25,000 for property damage for all other categories. The first thing that you will discover in your search is that it is relatively hard to find quotes for these exact dollar amounts. Most carriers will quote a minimum limit $500,000 per occurrence and $1,000,000 general aggregate. The good news here is that these limits exceed the states requirements and the premium charged is usually almost the same even for the higher limits. In today’s litigious environment extra protection is never a bad thing. If you are mostly having issues with the state, check out our page here for some extra help. If you need exam help, try here. The state has come out with a new License Bond requirement for contractors with a sub 660 credit score, effective July 2012. Read here to determine if you need one. We have a License Bond estimated rate table here. Go here if you want a quote for one. Go here to learn LEGAL tips on improving your credit score fast.