What is the minimum amount of general liability insurance that each contractor is required to maintain?

The minimum amount of general liability insurance that each contractor is required to maintain is $50,000. This amount is typically established to ensure that contractors have a financial safety net to cover claims related to bodily injury, property damage, and personal injury that may arise during their construction activities. Maintaining a minimum level of insurance is crucial not only for protecting the contractor's business but also for safeguarding clients and other affected parties from potential liabilities.

This insurance requirement supports the broader framework of compliance and accountability within the contracting industry. Ensuring that contractors carry adequate insurance helps establish a standard of professionalism and risk management, which is essential for maintaining trust and integrity in construction projects.