Construction is a job that has the potential to result in serious injury. Construction work contains an almost infinite number of ways to get injured, from hazardous equipment to dangerous heights. While few employers take safety measures as seriously as construction, accidents do occur.
Construction contractors manage the construction of new buildings or renovations to existing structures, whether it’s a large municipal project, high-rise, or road and underground construction. Various coverages may be needed. Most have a set group of permanent employees, and then subcontract the remaining tasks to specialty subcontractors, construction companies must have insurance protection in place. Construction risks are many and varied and can result in significant losses if proper protection is not in place. By having the right insurance protection, construction firms can rest easier knowing that they are covered in the event of an accident, liability dispute or business interruption.
All construction businesses are required to carry a variety of different forms of insurance. To streamline the process, continue reading to learn about the most relevant insurance products for the construction company. Construction Insurance is a type of Commercial Insurance that covers the contractor’s employees and equipment during construction. Construction insurance also protects against accidents that occur on a worksite. Construction policies often combine protection for the workers and the materials they use, as well as a general policy for injuries to third parties who may be visiting or working near the job site
The size of your business, the number of workers, and the location of your operations will all affect the cost of your insurance. As the requirement for your job are unique so is the coverage. Request a quotation to determine the cost of insurance for your business.