If you are doing jogging duty ( frequent starting and stopping ) or plugging duty ( forced reversing of the motor while it is running ) you need to upsize the contactor to account for the current broken so that the life will not be too short. You should be able to get life versus current broken from the contactor manufacturers.
In AC-3 service the assumption is that the motor will usually be up to speed which means that breaking the current is very easy as compared to jogging duty where current might be interrupted when the motor is only at 3/4 speed and drawing more current. In AC-3 service a general purpose motors controller has a life of 1 to 1.5 million operations when sized at 100% of the motor rating and more like 10 million operations when sized at 300% of the motor rating. In AC-3 service a definite purpose contactor ) such as in HVAC units ) has a life of about 200,000 operations which for a central air conditioner is quite acceptable.
Once you have the life versus load curves you can decide how much money you want to spend. As stated above, the required life depends upon the application.
If a motor is going to be starting and stopping say 10 million times a year then you need to think about using some type of servo drive that uses a solid state servo amplifier or variable frequency drive as the motor controller.