Construction Insurance Guide

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Construction Insurance Guide

Construction insurance is a vital safety net for contractors and businesses involved in building projects. It provides financial protection against unexpected losses such as property damage, injuries, and legal liabilities.

What Is Construction Insurance?

Construction insurance is a comprehensive insurance policy designed to cover the specific risks associated with construction projects. It can include multiple types of coverage to protect against various potential losses.

Construction Project Risks

Types of Construction Insurance

Builder’s Risk Insurance

Builders Risk Insurance covers physical damage (Including materials, fixtures, and equipment)  to your building under construction. Protects against risks like fire, theft, vandalism, and natural disasters.

General Liability Insurance

General Liability focuses on bodily injury or property damage caused by the insured's operations to third parties. Protects against lawsuits and legal costs arising from accidents or negligence.

Workers' Compensation Insurance

Provides medical benefits and wage replacement for employees injured on the job. Covers legal costs related to workers' compensation claims.

Commercial Auto Insurance

Commercial Auto Insurance covers damage to vehicles used for business purposes and liability for accidents involving those vehicles. Protects against property damage and bodily injury claims.

Contractors Equipment Insurance

Covers damage or loss of construction equipment, such as tools, machinery, and vehicles. Protects against theft, vandalism, and accidental damage.

Types of Construction Insurance

Insurance Type Average Monthly Costs Average Annual Costs Typical Coverage
General Liability $30 - $95 $350 - $1,200 $1-2 million
Builder’s Risk $80 - $450 $900 - $6,000 $1-5 million
Workers’ Compensation $150 - $600 $1,600 - $7,000 Up to $1 million
Commercial Auto $120 - $350 $1,440 - $4,200 $1 million per accident
Contractor’s Equipment $85 - $250 $1,050 - $3,000 $250,000 to $500,000

Get Premises Liability Quotes

If you want to get an exact cost for Construction Insurance, we encourage you to get quotes now from our experienced agents.

Our experienced agents are well versed in all types of construction projects. After understanding your construction project, our agents can usually reduce policy prices through additional discounts of 10% to 15% from the instant quotes you receive.

We provide the finest comprehensive plans for your business by providing:

  • Knowledgeable, licensed insurance agents
  • Same-day coverage in most instances
  • Coverage from A-rated insurance companies
  • Ability to offer policies nationwide
  • The lowest price for the best Insurance coverage in the industry

Please take 10 minutes to read our E-Book. It was written with 25 years experience selling Builders Risk for YOU.

You are insuring a big investment and we want you to know more about what you are buying!