General Contractor Insurance Policy?

[Michael Elfant]

Hi All,

Would appreciate some input on this issue.  

If one was to GC a new construction or a flip project (in NJ) would you need to take out a general contractor insurance policy or does the builders risk insurance policy on each property as well as hiring fully insured sub-contractors suffice?  

I don't intend on hiring any full-time employees and therefore am wondering if I can get away with not having contractors insurance by doing it the way described above.

Thank you in advance,

Mike