Construction Insurance

General Liablity is required in some states to get construction business licence. General Liability covers personal injuries and damage to the property of others.

Example… A worker accidentally scrapes a car on the street with a piece of heavy equipment,. A General Liability Insurance policy will likely cover this type of property damage.

Workers Compensatrion protects your employees from work-related injuries or illnesses, while simultanously protecting you from liability.

Example… An employee falls from a ladder while retiling a roof and breaks a leg. They will receive Workers Compensation to cover medical bills and lost wages, while giving up the right to sue you for the injury.

Commercial auto insurance will be needed if one of your company vehicles is involved in an accident. It cover legal fees, medical expenses, and property damage.

Example… Your forklift truck collides with a car, causing damage to both vehicles. Commercial Auto will cover the repair costs for both vehicles.

Business Owners Policy (BOP) is for small construction companies that want to package together General Liability cover with Commercial Property cover at a reduced rate.

Example… A brick drops from the scaffolding, injuring a passer-by below, while also damaging the client’s porch. BOP covers the injured person’s medical bills, your legal costs and repair to the porch.

Umbrella Insurance protects your company in a severe accident. It offers additional cover if the losses exceed the limits of your other policies.

Example… A youngster wonders into the construction site, falls and is gravely hurt. His parents sue you against your GL policy and are awarded $2 million. Since your GL policy limit is only up $1 million, Umbrella covers the extra $1 million.

Professional liability insurance (or “Errors & Omissions”), protects small construction businesses from the costs of client litigation over poor work.

Example… Your contractor fails to follow a blueprint, causing devastating financial loss for your client who sues you for negligence. Professional liability insurance covers your legal fees and court costs.

Independant contractors reap the benefits of a General Liability (GL) insurance given the professional risks they face. Find out why General Liability insurance is the most popular policy among independant contractors.

Builder’s Risk Insurance or Course of Construction Insurance covers both residential and commercial structures while they are under construction, being renovated or remodeled. Discover the benefits it offers here.

Single-family home contractors specialize in a trade such as roofing, flooring or HVAC installation. Anything can go wrong at a work site, from weather-related disasters to personal injury or vandalism. Note these pointers to protect your small business.