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How to navigate the construction insurance process

In the construction industry, obtaining business insurance and being able to provide proof of that coverage to an owner, general contractor, or even another subcontractor can make or break the beginning of business. Without protection for employees, employers and the public, contracts and state laws make it incredibly challenging to operate.

Since insurance plays such an important role, here are some tips to avoid getting stuck in a bad situation:

  • General Liability
    • Make sure your all of your operations and locations are covered
  • Vehicle Insurance
    • Check the licenses of your employees every year to ensure they are free of infractions, such as DUIs or suspended licenses
  • Workers’ Compensation
    • Get coverage and require coverage of anyone you work with who could pose a workers’ comp risk. If you allow someone to opt out, there is the possibility that they will come after you in the future if they get hurt.
  • Optional Coverage Options
    • An equipment floater policy covers stolen, broken or lost tools
    • Professional liability insurance protects against professional errors and omissions
    • A corporate builder’s risk program covers fires and other events
    • An employment practices policy protects against sexual harassment or inappropriate jobsite behavior claims

Speaking with an insurance professional can help you understand your risks and provide insight into the coverages needed to adequately protect your business. To learn more about our construction insurance services that will help you protect and grow your company, visit AssuredPartners Construction.

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