Baton Rouge

(225) 926-2031

Denham Springs

(225) 664-4126

Baton Rouge

(225) 926-2031

Denham Springs

(225) 664-4126

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Construction Insurance Coverage

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A new year provides a good time to check out your insurance coverage and make sure everything is in order. Depending on your workers and the type of work being done, your insurance may need to be enhanced. Take some time to identify the risks associated with the project and make sure that the policy terms and limits are adequate to cover any potential losses.

Here is a review of the most common types of insurance you may want to consider:

  1. CGL (Commercial General Liability) Policy

CGL protects businesses against liability claims for bodily injury and property damages stemming from the business’ operations, products, or injury that occurs on the business’ premises. Be sure to determine if your policy is a claims-made policy or an occurrence policy.

  1. Umbrella Liability Coverage

Umbrella insurance is additional liability insurance. It is designed to protect you from major claims and lawsuits and ensures you above and beyond other policies’ limits.

  1. Builder’s Risk

Serves as a special type of property insurance which indemnifies against damage to buildings while under construction.

  1. Professional Liability Coverage

Safeguards the contractor or business from claims about professional negligence; it covers your financial obligations if you are involved in a legal claim from a third party

  1. Contractor’s Pollution Coverage

Provides the contractor coverage for property damage, defense, cleanup, and related defense costs as a result of pollution conditions

Consult with an insurance professional on what you need for your business or as an independent contractor. Follow up now, before any accidents or claims occur, to make sure your new year starts off with the correct coverage.

Source: For Construction Pros