insurance for construction business

What Kinds of Insurance Do Construction Businesses Need?

Protect your construction business with these types of insurance coverage.

If you work in construction, you know that your industry is unlike any other. There are so many factors every contractor needs to consider, from material type to workforce availability to weather. Each job has a lot of moving parts and many contractors are managing multiple jobs simultaneously. No matter how diligent you are, things can go awry with so much continuous activity. Is your construction business ready to face tomorrow, no matter what it brings? It can be – provided you have the right insurance policies in place to protect it. Here are four types of insurance every construction business needs.

  1. General Liability Insurance. A general liability policy comes to the rescue if you end up facing bodily injury or property damage claims. Let’s say one of your employees damages some part of the property you were working on. Your general liability policy can help cover the costs so neither you nor your employee feels that financial burden.
  2. Builder’s Risk Insurance. This type of insurance was created specifically for your industry. Each job benefits from having a builder’s risk policy in place because this coverage insures the build you’re working on and the materials. Say a freak hailstorm destroys all your progress on the exterior walls or a thief steals the equipment you left at the site overnight. In both cases, builder’s risk insurance can come to the rescue.
  3. Commercial Auto Insurance. Does your company own vehicles? Because you need to transport people and materials between job sites, the answer is probably yes. Don’t leave those vehicles – or your liability because of their activity on the road – exposed. A commercial auto insurance policy will protect you.
  4. Workers’ Compensation. This is non-negotiable. Every business is legally required to carry this type of insurance to protect its employees in the event one of them suffers a work-related injury.

If you own a construction business, contact Rothstein Insurance. We have years of experience protecting companies just like yours and can ensure you put the right policies in place. Call us for all of your construction insurance needs in California and Hawaii.

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