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What is contractors’ insurance? 

Contractors’ insurance (the many types of business insurance made for contractors and subcontractors) helps you manage the cost of various risks, like mistakes in your work, accidental property damage, and stolen tools. 

The freedom of being self-employed also comes with risks. If something goes wrong because of your work—like a worksite injury or damaged materials—it’s up to you to set it right. 

That’s why many contractors and subcontractors consider business insurance to help keep unexpected bills from chipping away at their bank accounts.   

what is contractor insurance?

Why do contractors need insurance? 

Contractors and subcontractors may need business insurance to meet contractual obligations and help pay unplanned expenses.

Enter a jobsite

Receive a trades license

Work with specific clients

Pay legal costs if you face a liability claim

Let’s cover your small business on the go

Start a quote to see how much you can save and buy online in minutes.

did you know contractor insurance

Did you know?

Depending on your trade or the industry you work in, some types of business insurance may be required in parts of Australia.  

Clients may require you to have certain types of contractor or subcontractor insurance, such as Public Liability or Professional Indemnity, to work with them. You will likely be asked to show proof of insurance before signing a contract with them.  

Public Liability and/or Professional Indemnity insurance may be required to receive a trades or professional license in some states and territories. These types of cover may also be necessary to join a trade or professional association.

What types of insurance do contractors & subcontractors need

We offer a range of insurance options made to cover your business, tools, and stock. Build an insurance package that meets your unique business needs and buy online in minutes. 

Public Liability

Covers compensation costs and legal fees if you negligently cause injury to a member of the public or damage to property.

Public Liability insurance

Professional Indemnity

Covers financial losses and legal fees as a result of alleged or actual negligence in your professional services or advice.

Contents Insurance

Covers loss or damage to business items at the insured location, such as equipment, stock, machinery, and furniture

Contents coverage

Personal Accident & Illness

Covers individuals for loss of income if unable to work as a result of an injury or illness in or outside of work. Limits apply.

Personal Accident insurance

Statutory Liability Insurance

Covers costs, fines and penalties as a result of unintentional breaches of key legislation in the operation of your business.

Statutory coverage

How much does contractors’ insurance cost?

 The average cost of business insurance for contractors can vary with BizCover. However, the cost of insurance depends on several factors, such as the industry you work in and the amount of cover you choose.

how much does contractor insurance cost?

Factors influencing cost

Risks of the industry 

Cover level amount

Annual turnover

Number of employees

Claims history

*Customer Average Monthly Payment Report is based on 1 July 2023 to 30 June 2024 and presented as a guide only. It may not reflect pricing for your particular business, as individual criteria will apply.

how much does contractor insurance cost?

Factors influencing cost

Risks of the industry  

Cover level amount  

Annual turnover

Number of employees

Claims history

Customer Average Monthly Payment Report is based on 1 July 2023 to 30 June 2024 and presented as a guide only. It may not reflect pricing for your particular business, as individual criteria will apply.

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See how much others have saved while purchasing policy through BizCover

Colette

Disability Care Worker from

NSW

Saved

$1,200

on

Public Liability and Professional Indemnity insurance

Disability care worker
Andrea

Beautician from

VIC

Saved

$1,500

on

Business insurance Pack and,
Public Liability and Professional Indemnity insurance

Andrea, Beautician saved $1,500 on Professional Indemnity, Public Liability and Business Insurance
Deborah

Cleaner from

VIC

Saved

$3,600

on

Public Liability insurance

Cleaner from VIC saved on Business Insurance with BizCover

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