Construction contractors put themselves at risk every single day on the job, facing unknown risks when working with heavy equipment and often from scaffolds at great heights. The job is demanding and has special challenges. One of the challenges construction contractors face is having the proper insurance to protect them from potential liability claims. Here are a few of the basic coverages provided by construction contractor’s liability insurance.
- Client and third-party injuries: Accidents can happen on a construction job site, even on well-managed construction sites and no matter what safety precautions are in place. When a client or a third party sustains injuries while on your project site, you could be held legally responsible for medical expenses and other court-awarded compensation. Construction contractor’s liability insurance steps in to cover medical expenses, legal fees, and damages awarded to the injured party. This not only safeguards your finances but also maintains your reputation as a responsible contractor.
- Completed products coverage: Your responsibilities as a contractor extend beyond the construction phase. What happens if a structure you’ve built causes harm or damage after it’s completed? Completed products coverage, included in construction contractor’s liability insurance, shields you from liability for defects or issues that arise post-construction. It covers the cost of repairs, replacements, or legal claims related to faulty workmanship or materials, giving you peace of mind long after the project is done.
- Property damage: Construction projects involve heavy equipment and materials, creating a higher risk for property damage to the client’s or third party’s assets. A construction contractor can be sued for any damages caused to a property while work is being completed, such as a remodeling contractor who damages a home. The liability coverage will pay for any property damage caused. Whether it’s accidental damage to a client’s property during construction or damage to a neighboring property due to construction activities, construction contractor’s liability insurance steps in to cover the cost of repairs or replacements. This coverage ensures that your business can continue its operations without crippling financial setbacks.
- Advertising injury: Advertising injuries include lawsuits for libel, slander, privacy invasion or copyright infringement. This could come from misleading advertisements including social media posts or false or misleading information printed on company fliers. This coverage includes legal costs and damages awarded to the affected party, allowing you to focus on your construction projects rather than legal battles.
Construction contractor’s liability insurance is an indispensable safety net for contractors. It shields you from a range of risks, from injuries on the job site to post-construction issues. C&S Specialty Underwriters specializes in liability packages for construction contractors. Coverage enhancements including contractor’s pollution, transportation, and employee benefits liability may be added by endorsement to a CGL policy. We have over 100 years of experience in the specialty insurance industry. Put our expertise to work for your clients. Contact us to learn more about all of our liability insurance products.