Insurance for Contractors
Construction professionals and contractors are faced with daily risks of jobsite hazards and equipment damage. Construction insurance is designed to help you maintain a safe worksite for employees (Workers Compensation) and provide protection for jobsite materials, equipment, natural disasters and protect your business from liability claims of property damage or bodily injury. (General Liability and or Auto Liability)
However, construction companies often need specialized policies for complete coverage. Contractors, carpenters, homebuilders, remodelers, plumbers, electricians, handymen and other professionals in the construction industry can benefit from such specialized insurance policies.
What types of construction insurance are available?
Construction professionals work with heavy machinery and equipment that can break down or injure workers. For this reason, standard commercial insurance policies, along with specialized policies, are necessary for comprehensive coverage. Some of the most common policies needed by construction professionals include the following:
- General liability insurance: Designed to cover liability costs if individuals unassociated with your business experience injury or property damage on your worksite. Liability for bodily injury or property damage can occur with your work in years past. (Completed Operations)
- Professional liability insurance: Also called errors and omissions insurance, (E & O) this policy can protect you from third-party claims of error and/or negligence.
- Commercial vehicle insurance: Could cover any business-owned vehicles or personal vehicles used on behalf of a business and the associated liability of such use. This can include cars, trucks, vans, cement mixers, etc.
- Loss of income insurance: Could cover a loss of income within policy limits resulting from business interruption. Designed to cover your company for continuing expenses and profit during the time a covered peril shuts you down and back to normal.
- Builder’s risk insurance: Could cover property damage on worksites while under construction, which may also include construction materials prior to installation.
- Workers’ compensation: Could compensate employees who are injured on the job for medical expenses and partial wage replacement.
Get started today!
Our agency will evaluate your business and make recommendations for appropriate policies based on the size of your company, the number of employees, and the work you perform. Call us today to get started with a free quote for construction insurance.
