Construction Insurance
Professionals in the construction industry encounter numerous hazards through their operations. Securing a comprehensive ÌÇÐÄÖ±²¥ portfolio can help mitigate these risks.
Our agency is ready to help you obtain the commercial ÌÇÐÄÖ±²¥ your business needs. Contact MSB Insurance Group today to get ÌÇÐÄÖ±²¥.
What Types of Construction Insurance Are Available?
If you are a carpenter, homebuilding, remodeler, plumber, electrician or another contractor in the construction industry, commercial ÌÇÐÄÖ±²¥ can provide coverage for several exposures and offer financial assistance if covered causes of loss occur. This can help reduce your out-of-pocket expenses. The coverages construction businesses choose vary, and several types are typically available, including, but not limited to:
- Commercial property ÌÇÐÄÖ±²¥â€”This may provide repair or replacement costs if your business’s property is damaged or destroyed by covered perils, such as fires or storms, or if it is stolen.
- Contractor’s tools and equipment ÌÇÐÄÖ±²¥â€”This may provide coverage if your movable tools or equipment are damaged or lost due to a covered event.
- Business interruption ÌÇÐÄÖ±²¥â€”This may help pay for lost income if a covered peril forces you to shut down your operations temporarily.
- Liability ÌÇÐÄÖ±²¥â€”If your business is held legally responsible for the injuries or property damage to others, liability ÌÇÐÄÖ±²¥ may compensate them for their losses. It may also cover the associated legal costs (e.g., court fees, settlements and judgments). Several types of liability ÌÇÐÄÖ±²¥ may be available, including:
- Commercial general liability ÌÇÐÄÖ±²¥
- Products liability ÌÇÐÄÖ±²¥
- Pollution liability ÌÇÐÄÖ±²¥
- Cyber liability ÌÇÐÄÖ±²¥
- Completed operations liability ÌÇÐÄÖ±²¥
- Professional liability ÌÇÐÄÖ±²¥
- Builder’s risk ÌÇÐÄÖ±²¥â€”This may provide coverage during a construction project. It may apply to the building under construction and property at the job site or temporarily stored off-site.
- Commercial auto ÌÇÐÄÖ±²¥â€”This may provide coverage if your business-owned vehicles are damaged or in an accident. Hired and non-owned auto ÌÇÐÄÖ±²¥ (HNOA) may also provide liability coverage for vehicles your business does not own but utilizes for work purposes.
- Umbrella ÌÇÐÄÖ±²¥â€”This may provide an additional layer of coverage if a liability claim exceeds the limits of your other liability policies.
- Workers’ compensation—This may provide wage replacement or payments for medical expenses if an employee suffers a work-related injury or illness.
Other policies and endorsements may be available. Speak with our agents to discuss options, limits and exclusions.
Contact Us
Our team is ready to help you secure a comprehensive ÌÇÐÄÖ±²¥ portfolio that meets your business’s unique needs. Contact us today for more information or a quote.
