Builders & Contractors Insurance

What Is Builders & Contractors Insurance?

Builders and contractors face unique risks in the construction industry. Contractors Insurance is a comprehensive policy designed to protect general contractors, subcontractors, and construction businesses from liability, property damage, and work-related accidents.

Who Needs Builders & Contractors Insurance?

  • General contractors
  • Subcontractors (e.g., electricians, plumbers, roofers)
  • Excavation companies
  • Construction firms
  • Remodelers and renovation companies
  • Home builders

Key Insurance Policies for Builders & Contractors

General Liability Insurance

General Liability Insurance: Covers third-party injuries, property damage, and legal fees.

Workers’ Compensation Insurance

Workers’ Compensation Insurance: Protects employees if they suffer work-related injuries.

Commercial Auto Insurance

Commercial Auto Insurance: Covers work trucks and vehicles used on job sites.

Inland Marine Insurance

Inland Marine Insurance: Protects tools and equipment transported between job sites.

Builders Risk Insurance

Builders Risk Insurance: Covers construction projects against damage from fire, theft, or natural disasters.

Common Risks in the Construction Industry

  • On-site injuries to workers and third parties
  • Property damage during construction
  • Theft of tools, machinery, or materials
  • Weather-related damage to unfinished structures
  • Delays due to unforeseen circumstances

Most Frequent Claims in the Construction Industry

  • Falls and injuries from scaffolding or ladders
  • Equipment damage or theft
  • Third-party property damage
  • Work-related vehicle accidents

Commonly Overlooked Coverage Gaps

  • Subcontractor Liability: Ensuring subcontractors carry their own coverage.
  • Errors & Omissions (E&O) Insurance: Covers project miscalculations or design flaws.
  • Pollution Liability: Protection for hazardous material exposure.
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