“Insurance Requirements for Florida Contractors”

– Florida contractors are required to have public liability and property damage insurance in place in order to obtain or renew their construction license.
– The Construction Industry Licensing Board conducts random sample audits of licensees to verify insurance coverage.
– License holders must provide proof of insurance coverage in the form of an original Certificate of Insurance, a certified copy on file with the building department, or a copy of the insurance policy.
– The Certificate of Insurance must include the date of issue, name of insurance agent, name of insured, name of insurance company, policy number, effective date of policy, and expiration date of policy.
– Insurance coverage must be continuously maintained since the last license renewal. General contractors and building contractors must carry a minimum of $300,000 in public liability and $50,000 in property damage insurance. All other contractors must carry a minimum of $100,000 in public liability and $25,000 in property damage insurance. The certificate holder for the insurance must be the State of Florida, Department of Business and Professional Regulation, the Construction Industry Licensing Board. The insurance company must provide a 30-day written notice to the certificate holder if the coverage is cancelled before the expiration date. Failure to maintain proper insurance coverage can result in discipline on the construction license.

https://www.jimersonfirm.com/blog/2017/11/insurance-requirements-florida-contractors/