Affordable insurance can be a deadly trap. What you want is the best coverage value for your money. Liability insurance comes in various forms. The cheaper policies tend to have many more coverage exclusions (this means things that won't be covered in a claim) I suggest you start by doing a search online for insurance brokers who specialize in construction and contractor trades in your state. When you apply for a policy, insist that your broker send you the list of endorsements and exclusions to the policy. If you see the word EXCLUDED, it's not covered.
Traditionally the contractor provides the Insurance. The owner verifies that the contractor has insurance prior to hiring that contractor.
You will need to contact some agents in your area to assist you, if you can find no help or referals, contact your states dept. of insurance.
I get Electrical contractor license, so what can in do.. and what formalities for..
There are literally hundreds of different contractor classes. Without knowing what kind of contractor you are, ie; electrical, roofer, builder etc, there is no way of knowing what you might pay.
There is an electrical contractor online http://www.integralelectrical.ca/ that is the link.There is no electrical contractor within 10 miles of Hershey, PA.
The job of a insurance contractor is to find you the best deal possible for your insurance needs. This could be anything from motorcycle to mobile home insurance.
An insured contractor is a contractor who carries a Commercial General Liability Insurance Policy.
To verify if a contractor lied about their insurance coverage, you can request to see their insurance certificate directly from the insurance provider listed on the certificate. You can also contact the insurance provider to confirm the contractor's coverage and ensure it is valid and up to date.
Ask the contractor for a copy.
The contractor should make a claim upon the sub-contractors insurance and/or bond. If the sub-contractor defrauded the contractor on having insurance and/or bonding in place then he should report the contractor to the State licensing board, file claim on their insurance, and civil lawsuit (if the insurance company does not directly file or pay).
There are several companies that offer IT contractor insurance. Hiscox, Markel UK, The Indemnity Brokers and Contractor UK are amongst the few that offer it.
It depends on what type of contractor. Contact a local insurance agent who will be able to give you a quote.