Construction Insurance You Need

Several key coverages make up a total insurance solution for the construction industry, including:

• Commercial General Liability (CGL) Policy: Provides coverage for bodily injury and property damage to a third party. It is important to note that a CGL policy does not cover the cost of repairing defective work; only damage results from that defective work.
• Contractor’s Pollution Coverage: Covers third-party claims for bodily injury and/or property damage and cleanup and remediation costs associated with pollution incidents resulting from your covered operations as a contractor. This type of policy is most useful to contractors involved in paving, infrastructure, maintenance, mechanical, demolition, industrial, excavation, grading, HVAC, carpentry, and pipeline and tank installation.
• Contractor’s Professional Liability Coverage: As an increasing number of contractors are performing work as designer-builders, the responsibility for the design and any corresponding related liability exposures that result in financial damage to a third party due to an error or omission rests with them. Coverage for this type of professional liability risk is typically not provided under a CGL policy.
• Builder’s Risk: Protects you from specific exposures while a building is under construction. Typically, construction contracts require the owner or the general contractor to purchase a Builder’s Risk policy that names the owner, the general contractor, and the subcontractors as insureds. A Builder’s Risk policy can cover both the structure itself and materials, whether they are already on site or waiting to be installed or transported to the job site. These policies are usually written for specific terms of duration and will provide coverage from various events, most commonly fire, wind, theft, lightning, hail, explosion, and vandalism.
• Umbrella Liability Coverage: Provides coverage for amounts above the limits under primary Liability policies.
• Workers’ Compensation: Protects one of your most valuable assets – your employees if injured while on the job. Takes care of employee medical bills, rehabilitation, and lost wages up to a certain amount.

We also provide many other coverages as part of a complete insurance portfolio for contractors, including Property, Contractor’s Equipment, Installation Floater, Railroad Protective Liability, Employment Practices Liability, etc. In addition, we can assist you with your bonding requirements and needs.