Whether you are involved in residential or commercial construction, construction insurance is imperative in protecting your business, your employees, and your clients.
Without construction insurance, your business could suffer greatly from loss and face lawsuits in response to injury and damages.
Facing these situations without the protection of an insurance policy could spell the end of your business. Saving a few dollars off your construction insurance policy could cost you a lot more money in the end.
There are a number of different businesses and professions who we can create custom construction insurance packages for, including:
Construction is a hazardous field of work. There are high risks of accidents, injuries, damage, and liability.
Insurance can protect businesses in a number of situations such as:
As far as running a construction business goes, there are specific reasons why you need the proper coverage:
Property protection: Should your physical work property, such as an office, or equipment become damaged, you want to make sure you are covered in order to keep your business up and running.
Injuries: Equipment, materials and precarious physical situations (such as climbing ladders or working on scaffolding) can easily lead to bodily injury and harm. Even if you take all the precautions and apply preventative measures, accidents can and do happen.
Theft: Your construction business relies on your equipment. Make sure any equipment stored at the business or left at the job site is covered in the event of theft.
General Liability Insurance: This type of coverage protects your business from 3rd party lawsuits filed due to property damage or bodily injury. It also covers any medical fees that result from injury to a 3rd party.
Commercial Property Insurance: This policy covers the value of any business property located on the business’s premises. This includes repair or replacement of property and equipment.
Equipment and Tools Insurance: Protect your tools and equipment located away from your business premises with this type of coverage.
Installation Insurance: Installation insurance covers any property or materials while in transit to the job site as well as during installation.
Builder’s Risk Insurance: Builder’s risk insurance covers structures while under construction. This includes on site materials.
Business Interruption Coverage: This type of insurance coverage is recommended for business of all kinds. It covers the loss of income following a disaster that causes a business to close during the repair and restoration period.
Commercial Automotive Coverage: If you use a personal vehicle for work purposes, your personal insurance may not cover work-related damages to the vehicle. Commercial automotive coverage is recommended since it covers business-related liability to any vehicles associated with your company.
Don’t let insurance be one more thing on your mind. Request a construction insurance quote from Capital Insurance Brokers today!
