Construction companies face some of the highest risks in business, from workplace accidents to property damage and liability claims. Specialized insurance coverage is essential for protecting your construction business.
Essential Coverages for Construction
- General Liability: Protects against third-party injury and property damage claims
- Workers' Compensation: Covers employee injuries on job sites
- Commercial Auto: Protects work vehicles and equipment transport
- Builders Risk: Covers buildings under construction
- Equipment Coverage: Protects valuable construction equipment
Site-Specific Risks
Construction sites present unique challenges:
- High accident rates due to dangerous work environments
- Expensive equipment and materials at risk of theft
- Potential damage to surrounding properties
- Weather-related delays and damage
Cost Trends for Construction in 2024
Construction insurance costs are influenced by factors like project size, location, safety records, and type of construction work performed.