Who Needs Construction Insurance?

Construction insurance isn’t just for large firms or those in charge of high-profile projects. The following groups can also benefit from getting the right policy:

• General contractors (GCs): As the primary overseers of construction projects, GCs are often contractually required to carry insurance.
• Subcontractors: Electricians, plumbers, roofers and other specialists face their own set of risks. Insurance policies can help them reduce the financial impact of unexpected perils as well as remain compliant with state and contractual obligations.
• Property owners and developers: Owners who are building or renovating property may need builder’s risk insurance to cover damage to the structure during construction.
• Project managers and consultants: Even those not directly involved in physical labor can face liability exposures related to project oversight or design.

What Policies Should I Consider?

Depending on your circumstances, our agents may recommend the following:

• General liability insurance: This covers third-party claims of bodily injury or property damage made against your business.
• Builder’s risk insurance: This covers damage to buildings under construction.
• Workers’ compensation insurance: This helps pay for medical expenses and lost wages of employees who are injured due to a workplace incident.
• Professional liability insurance: This covers third-party claims related to mistakes, negligence or errors in contracted work.

How Our Team Can Help

Best Option Insurance & Tax works closely with general contractors, subcontractors, property owners and other industry professionals to identify risks and recommend coverage options. We’re here to help you navigate requirements, compare policies and secure the right insurance for your needs.

Contact us today to request a personalized quote.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.