airdenver

I was thinking about taking my contractors test (Michigan) as long as I can get past my Masters test. I would like to start doing work on the side, small jobs like basements, additions, etc. What type of insurance would I need to carry, and about how much would my cost be. I have never looked into it, not really sure where to start. And I really don't plan on getting to the point of being more than a one man crew, at least not for awhile. Any awnsers would be welcomed.

itsunclebill

How much of what kind of insurance is usually a local requirement that can vary between jurisdictions. A call to the licensing authority can usually get the info you need. Some places require only liability, some require a bond. Some states allow self-employed without employees to operate without workman's comp.

Often a call to a local commercial insurance agency will get you a bunch of info as they are usually familiar with local requirements, and will get you pricing as well.

If you are getting ready to go into business for yourself you need to get used to spending inordinate amounts of time on the phone with local and/or state government types asking lots of questions. Be prepared to stand in line forever getting parerwork processed, and finding out the answers you got on the phone weren't right (which is why you ASK for EVERY person you talk to to repeat then spell their name)

gse

How much liability insurance will depend on the assets you have, if own nothing, then a min. $700 or $800 for a one man shop, electrical wiring within buildings policy, without errors and ommisions, and year to year renew option, may be ok. If you have any assets, home, savings, or anything of value, then you might want to protect it, with an electrical contractors policy, with broad coverages including underground, and high voltage, and continued operations, error and ommisions, which will very from state to state, avreage cost range from $2500 to 3500 for a one man operation.

bobelectric

Call Safeco Business Insurance