Construction companies like you are relied on by individuals and businesses to deliver facilities that are built completely, correctly, safely, on time, and on budget. Experienced contractors and project managers know that there are various risks that threaten the project metrics of scope, cost, schedule, safety, and quality. These risks also affect productivity, employee morale, and profitability. Risks such as property damage, site injuries, theft, and even negligence must be mitigated with the right insurance products.

Taking Care of Business

According to experts on construction insurance, these are some of the most common coverages for those in the construction industry: 

  • General Liability: Covers accidental property damage and/or injury caused by your operations
  • Workers’ Compensation: Provides for medical bills and lost income for injured employees
  • Builders’ Risk: Protects materials, equipment, and projects from perils such as theft, fire, and weather
  • Professional Liability: Addresses claims of negligence due to errors and omissions
  • Commercial Auto: Coverage for driving company vehicles for business
  • Umbrella Insurance: Excess coverage for catastrophic damages

Doing What’s Right

Just as your clients and customers expect you to build and erect facilities in accordance with plans, they also expect you to do what’s right in managing your risks. You can have a detailed safety management plan, but you also need to have general liability and workers’ comp plans in place, when something goes wrong.