Construction Insurance
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What is Construction and Trades Insurance?
People from the construction industry such as the contractors, tradesmen, and other construction professionals face risks every single day. It’s normal for them having to deal with construction hazards and equipment damage. That is why a construction insurance is there to ensure the safety of the work site and also to provide an envelope of protection for raw materials used, and even your business as well.
In most cases, there is really a need for customized policies to completely cover possible damages and hazards that the construction companies will face. Whether you are the contractor, plumber, electrician, handyman, or carpenter, everyone in the construction industry can reap the benefits of having customized insurance policies.
What are the options for the people under the Construction and the Trades Industry?
Construction workers and other trade professionals deal with heavy equipment every single day and this increases their chances of getting injured or damaging a client’s property. Because of this, the general insurance policies, together with customized policies, are needed for an extensive coverage. Here are the list of the common policies that are necessary for every construction professional:
- General liability insurance: This will cover the expenses if a worker or any individual unrelated to your business will get injured, or will damage a property during work hours.
- Professional liability insurance: This is otherwise known as errors and omissions insurance, and this will help in terms of errors, negligence, and other third-party claims.
- General liability insurance: This will cover the expenses if a worker or any individual unrelated to your business will get injured, or will damage a property during work hours.
- Professional liability insurance: This is otherwise known as errors and omissions insurance, and this will help in terms of errors, negligence, and other third-party claims.
- Commercial vehicle insurance: This pertains to the vehicles under your business, or any other personal vehicles used by the business. This type of insurance covers trucks, cement mixers, cars, vans, and other types of vehicles.
- Loss of income insurance: This makes up for any loss of income due to any form of business interruption.
- Builder’s risk insurance: This will cover any property damage made by the builder during the construction period. It also covers raw materials before installing and furnishing the property.
- Workers’ compensation: If there are employees who get injured or hospitalized on the job, this will cover for their medical expenses and loss of income.
Get insured today! BizSmart Insurance offers you a truckload of information regarding the construction industry (read more about it here) as well as experts that are ready to give a helping hand.
BizSmart Insurance will assess your business and we will recommend the best policies for your business basing from the scope of work, the size of your company, and the number of employees.
