Types of Insurance in Construction

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Construction projects require a variety of insurance coverages to protect the parties associated with the project. First-party coverages protect the interest of the owner and contractor in the project itself, while third-party coverages protect those involved in the project from liability claims made by others.

Builders Risk

Builders risk insurance reimburses the owner of the project for damage to the work itself while the project is under construction. Coverage can be procured by the owner or the general contractor to protect all parties who have an interest in the project.

Commercial General Liability

Liability insurance protects against claims presented by third parties who suffer bodily injury or property damage as a result of the construction activity.

Workers Compensation

Workers’ compensation insurance is statutorily required by all states of employers to cover injuries to employees during the course and scope of employment.

Automobile Liability

Any individual or company owning a vehicle on the construction job site needs to maintain automobile liability insurance in the event of injury or property damage.

Contractors Pollution Liability

With heightened awareness of the environment and stringent laws in place, it is much more common for contractors to maintain pollution liability insurance. Policies provide protection for environmental claims commonly excluded by general liability policies.

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