Construction insurance is necessary for each construction project. In many cases, it is necessary to have some type of specific coverage to be awarded. Construction insurance can provide coverage for materials, risks, natural disasters, employees, and even your own business. However, the insurance sector along with the construction sector is always looking to understand and provide the most recent coverage of each unique situation. There are many cases that property owners or project developers will need to obtain some of them in order to participate in their bidding process.
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Good liability insurance coverage can protect against injuries, accidents, or property damage sustained on the job. In addition, construction workers can accidentally damage materials by handling properties and tools, or while the remodeling process is underway. This article provides a comprehensive understanding of the benefits, limitations, and risks of this type of insurance.
The builder’s hazard insurance policy will pay for damages up to the coverage limit, but how much will it cost me? The limit must accurately reflect the full value of the structure (all materials and labor costs, but not including the value of the land). Extensions of coverage may be extended in certain situations and under specific conditions. An important exclusion that must be read in its entirety excludes coverage for damage caused by the defect: design, planning, labor and materials.
Who do we insure?
Here are some of the contractors we insure. This is obviously not the entire list, so if you are wondering whether you can be covered, call us now!
- Carpenters
- Carpet, Rug, Furniture or Upholstery Cleaners
- Communications Equipment Installers
- Driveway, Parking Area or Sidewalk Paving
- Drywall
- Electricians
- Excavation
- General Contractors (Construction) – Commercial or Industrial
- General Contractors (Construction) – Residential
- Graders of Land
- Janitorial
- Lawn Maintenance
- Lawn Sprinkler Installers
- Masons
- Painting
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For more information, call us at 1-888-851-5572. If you would like to receive a fast and free quote, visit us on our webpage!