Contractor Insurance Coverage Calculator
Estimate recommended insurance coverage limits for general liability, workers' compensation, commercial auto, and umbrella policies based on your contracting business profile.
Formulas Used
General Liability (Per Occurrence):
Base GL = max(Revenue × 2, Largest Project × 3, $1,000,000)
Adjusted GL = Base GL × Trade Risk Factor × Work-Type Factor × Claims Surcharge
Final GL = Round up to nearest $500,000 (cap $10,000,000)
GL Aggregate: GL Occurrence × 2
Employer's Liability (Workers' Comp):
EL = $100,000 × [1 + (Employees − 1) × 0.05] × Trade Risk × Claims Surcharge
Rounded to nearest $100,000 (min $100K, max $1M)
Commercial Auto (CSL per vehicle):
CSL = $1,000,000 × Work-Type Factor × Claims Surcharge
Rounded to nearest $250,000 (min $500K, max $2M)
Umbrella / Excess Liability:
Base = max(GL Occurrence × 1.5, Largest Project × 2, $1,000,000)
Umbrella = Base × Work-Type Factor × Claims Surcharge
Rounded to nearest $1,000,000 (min $1M, max $25M)
WC Premium Estimate:
WC Premium ≈ (Employees × $55,000 payroll / 100) × Class Rate × Claims Surcharge
GL Premium Estimate:
GL Premium ≈ (Revenue / 1,000) × Trade GL Rate × Work-Type Factor × Claims Surcharge