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10 Best Insurance Companies for Construction Businesses

Levelset

They offer a full range of business insurance policies, including general liability, commercial auto, workers’ compensation, and umbrella. And they offer risk specialists to help your business minimize losses. Policies offered include general and professional liability, workers’ compensation, commercial auto, and tools and equipment.

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CCIP & OCIP: A Guide to Controlled Insurance Programs in Construction

Levelset

They are also frequently written to include umbrella insurance and workers’ compensation insurance (in monopolistic states, where workers compensation is run through the state, CIPs are available without this coverage). Insurance gaps are a common risk on construction projects. How much does CIP cost? No gaps in coverage.

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Professional Liability Insurance Explained

Levelset

Professional liability insurance, also called errors and omissions (E&O) insurance , is a form of risk transfer, meaning that the policy mitigates the risk a contractor faces in their line of work. Both professional liability insurance and errors and omissions insurance refer to the exact same coverage nowadays.

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A Plumbing Contractor’s Guide to Insurance Coverage

Levelset

In this respect, general liability insurance or workers’ compensation could help cover those costs if an incident should occur. . Workers’ compensation insurance should be in place to help defray the costs of employee medical treatments. Each field of subcontracting work has its own area of focus in insurance matters.

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Errors and Omissions (E&O) Insurance Explained for Construction?

Levelset

Errors and omissions insurance, also called professional liability insurance, is one tool that contractors can use to transfer risk away from themselves. In essence, the underwriter tries to determine a cost that anticipates the potential risks the contractor faces in the course of doing business.

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5 Must-Have Clauses in Your Next Construction Contract

Construction Law Monitor

An indemnification clause obligates one party to compensate the other party for certain losses or damages resulting from third-party claims. This compensation is unrelated to other contractual obligations and damages. To avoid disagreements in the future, expectations should be set out from the very beginning. Indemnification.

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5 Must-Have Clauses in Your Next Construction Contract

Construction Law Monitor

An indemnification clause obligates one party to compensate the other party for certain losses or damages resulting from third-party claims. This compensation is unrelated to other contractual obligations and damages. To avoid disagreements in the future, expectations should be set out from the very beginning. Indemnification.