Construction workers have a higher risk of job-related illness and injury than workers in any other occupation, according to the U.S. Bureau of Labor Statistics. Workers in the construction industry can fall from scaffolding, ladders, and roofs. They can become injured by equipment and tools, be exposed to chemicals or fumes, or develop fatigue or repetitive stress injuries.
Whether your employees are carpenters, roofers, drywall installers, electricians, excavators, deck builders, siding installers, or pavers, construction insurance helps protect employees in the case of a workplace illness or injury and helps cover the small business from further liability and financial loss.
What are the common types of construction insurance?
General liability insurance helps protect you and your construction company against third-party claims that involve property damage, bodily injury, or advertising injury.
Business Owner’s Policy
BOP offers bundled insurance that may include business interruption insurance, property insurance, and liability coverage for your construction business.
Cyber liability insurance helps cover your company for events such as a data breach in which your customers’ or employees’ personal information or your company data is stolen or held hostage.
Additional Construction Insurance Options
Additional coverage options such as flood insurance may be built into your business owner’s policy or purchased separately to customize your construction insurance package.
What are some construction risks, and which type of insurance may cover them?
Selecting small business insurance can be confusing. Here are some sample scenarios to point you in the right direction. We recommend consulting with a trusted advisor to make sure you get the right types of coverage for your business.
Who needs construction insurance?
Businesses that perform electrical, roofing, carpentry, paving, decks, siding, or other construction-related activities should have adequate construction insurance. Employees involved in the construction industry may include:
Sheetrock and drywall installers