Meeting Your Construction Insurance Needs

Owners of a construction business, whether large or small, need many of the same insurance coverages that any other business needs to secure. However, they also have other types of insurance requirements that are unique and specific to their industry. When getting ready to make an important decision about your insurance program, use a professional experienced with your type of business, who works with insurance companies that specialize in risks related to the work you perform. The right insurance professional will be able to help you find construction insurance policies that package property and liability coverages in one policy specifically to meet the needs of construction firms.

Property insurance is key to any business

Property insurance is necessary to cover the real property your company owns and the personal property used in the business; for example, among the items included would be office furnishings and computers. But you must also consider machinery and equipment that moves around from job to job and will not be covered by a standard property insurance policy. This type of movable property is insured by contracts usually referred to as “floaters.”

An installer’s floater covers many different kinds of machinery and equipment during transit, installation and testing at the purchaser’s premises. While building materials may be covered, this coverage is intended specifically for equipment or machinery that contractors install, like heating or air conditioning units. The policy can also be written to cover a single job or on a reporting form.

Whether you’re a small contractor specializing in home remodeling or a large trade or construction manager, any construction management company, general contractor or trade contractor all share many of the same risk management and insurance needs. Insurers familiar with the construction business can help you by providing sound risk management programs. Partner with an insurer that can address your needs for a wide range of construction risks, for any of the following contractors:

  • Electrical
  • HVAC
  • Underground Utility
  • Excavation
  • Masonry
  • Fire Sprinkler
  • Environmental & Remediation
  • General Contractors
  • Construction Management Firms, and
  • Construction Industry Supply Companies

Don’t go another day without the proper coverage in place. Speak to a reputable insurance professional about all of your construction insurance needs.