What is construction insurance?

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 and team of employees and can provide protection for materials, natural disasters and your own business.

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: Could cover liability costs if individuals unassociated with your business experience injury or property damage on your worksite.
• Professional liability insurance: Also called errors and omissions insurance, this policy could 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.
• 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.