Commercial construction projects come with tight timelines and big price tags for the structures, materials, and equipment. They’re high-risk not only in the sense that a person may sustain a physical injury but also because of the wide range of commercial exposures faced by construction businesses from accidental structural damage to contractual issues.
To keep your company protected and your jobs running smoothly, it’s necessary to have the right insurance policy in place. It’s important to discuss your policy needs with a qualified professional who can help you manage your coverage from project to project and advise you on how to implement the best risk management practices. We connect you to some of the industry’s top insurance providers that can get you the coverage you need within your budget.
Builder's risk insurance is a special type of property insurance protects a builder or owner against damage that occurs to new or existing buildings that are under construction.
Commercial general liability typically provides coverage in case an injury or damage takes place on a business' property or while a business is operating. For instance, a customer could slip on the floor of your property, or an employee working at someone's home can slip and cause damage.
Tools and equipment insurance is a type of inland marin insurance that provides coverage if essential and expensive tools get destroyed or stolen. You can add this as a supplement to your insurance policy to typically cover heavy and rare equipment that can be difficult to replace and find.
One of the most important types of coverage for a commercial construction business is builder’s risk insurance. Sometimes referred to as “course of construction” coverage and often overlapping with inland marine coverage, builder’s risk grants financial security in the event of damage to a property under construction. It can also cover your business against losses of or damage to materials being used during construction. What exact situations your builder’s risk policy covers may depend on your selected carrier.
Other coverages that make up a commercial construction insurance plan may include general commercial liability, worker’s compensation, commercial auto insurance, equipment breakdown insurance, professional liability, and possibly more.
To explore your options or to get started on building your policy today, complete the quote request form. You’ll receive a free consultation and get matched with a carrier that understands the commercial construction industry and can help you safeguard your business.
Something many businesses don't know is that commercial insurance carriers have preferences for which types of businesses they insure.
The problem for most business owners is that they don't know which carrier is the best fit for their business, leading to high premiums or declined applications for coverage .
The 321 LaunchPad is connected to the largest network of commercial insurers available anywhere. We match your business with a qualified insurer so you get the right coverage for a fair price.