Insurance is essential for contractors operating in Nevada. This guide outlines insurance requirements, costs, and coverage options based on our analysis of actual quotes from leading carriers.

Build a secure foundation by reading about construction company insurance.

General Liability Insurance for Nevada Contractors

General liability insurance protects your contracting business from third-party claims of property damage and bodily injury. Based on our analysis of over 800 contractor quotes, here are the typical costs for Nevada contractors:

Revenue SizeAverage Premium% of RevenueFavorable PremiumPotential Savings
$500K$10,9002.2%$6,30042%
$1M$18,3001.8%$11,60037%
$2.5M$47,1001.9%$27,60041%

These premiums assume:

  • Clean claims history (5+ years without incidents)
  • Standard $1M/$2M coverage limits
  • Typical mix of residential and commercial work
  • Approximately 10% subcontractor costs

Worker’s Compensation Insurance for Nevada Contractors

Worker’s compensation insurance is mandatory for Nevada contractors with employees. Based on our analysis, Nevada contractors typically pay around $3,550 per employee annually for workers’ compensation coverage.

For Nevada contractors, typical workers’ compensation costs per $100,000 of payroll average $7,890, making it one of the more affordable states for this coverage.

Common contractor classification codes and their approximate rates:

  • Code 5606 (Project Manager/Supervisor): $2-4 per $100 of payroll
  • Code 5645 (Residential Construction): $7-10 per $100 of payroll
  • Code 5403 (Commercial/Large Projects): $10-15 per $100 of payroll

Key factors affecting premiums:

  • Employee classification codes
  • Annual payroll
  • Claims history
  • Safety programs
  • Experience modifier rating (EMR)

Additional Business Insurance for Contractors in Nevada

1. Commercial Auto Insurance

  • Cost: $1,000-$4,000 per vehicle annually
  • Required for business-owned vehicles
  • Higher limits often needed for larger contractors
  • Covers accidents, damage, and liability while driving for work

2. Tools & Equipment Coverage

  • Premium: $1,500-$5,000+ annually for $15k-$50k coverage
  • Protects both owned and rented equipment
  • Coverage follows equipment to all jobsites
  • Includes theft, damage, and vandalism protection

3. Commercial Property Insurance

  • Annual premiums: $2,000-$20,000+ based on property value
  • Protects offices, storage facilities, and workshops
  • Coverage for fire, theft, vandalism, and natural disasters
  • Business interruption coverage available as add-on

4. Builder’s Risk Insurance

  • Cost: 0.15-0.75% of project value
  • Covers projects under construction
  • Protection against fire, weather, vandalism
  • Coverage extends to materials and equipment on-site

5. Contractor License Bonds

  • Protects clients from contractor non-performance
  • Required for Nevada contractors
  • Premium: 1-3% of bond amount
  • Rates vary based on credit and experience

Get Nevada Contractor Liability with ContractorNerd

ContractorNerd specializes in making insurance simple and data-driven for Nevada contractors. Our platform offers:

  • Instant online quotes from top-rated carriers
  • Side-by-side coverage comparisons
  • Contractor-specific expertise and guidance
  • Streamlined application process
  • Ongoing policy management support
  • Claims advocacy when needed

Our team of contractor insurance specialists understands Nevada’s unique requirements and can help you:

  • Optimize coverage levels based on your specific risks
  • Find competitive rates through our carrier network
  • Bundle policies for additional savings
  • Ensure compliance with state regulations and contract requirements

To get started with tailored quotes for your Nevada contracting business, visit our online quote tool or speak with one of our contractor insurance specialists today.