While some types of insurance are common in other industries,many policies are created to mitigate risks that are specific to the construction industry. Below, we’ll cover the most common types of insurance in construction and what each policy covers. ...
For example, if someone visits your construction site and is injured there, they could file a claim against you. Also, it’s not uncommon for construction companies to damage property that they are renovating, for example. In these types of cases, general liability insurance would cover medical...
Insurance is normally divided into two types. Liability Workers’ compensation Liability This normal coverage property damage and or any injuries caused by the contractor’s work. Workers’ compensation This normally gives payment to injured workers, no matter who was at fault in the accident, all ...
Here are just a few of the key benefits of carrying construction insurance: Protects your construction project, workers, and business from financial losses resulting from accidents, injuries, or other unforeseen events Ensures compliance with local regulations and laws ...
Construction BondsInsurance Policies Construction onlyFor different types of businesses and organizations Three-party agreement: the principal, surety and obligeeTwo-party agreement: the insured and the insurance company Coverage is specific to each projectCoverage is term specific and renewable ...
“The insurance is truly excess of the SIR,” says Joshua Rogove. “So, until that self-insured retention is exhausted, the insurance won't step in.” 4 keybenefits of OCIP/CCIPinsurance 1.Reduced costs Whether the policy is controlled by a contractor or owner, an OCIP or CCIP policy re...
Give your travel plans extra assurance by China Construction Bank Macau Branch’s Travel Insurance Plan. From lost luggage to unexpected accidents, we can help you get your journey back on the road. Our different plans give you better benefits and features to suit your needs and budget. ...
Each issue includes articles designed to help owners and top managers run a more profitable and productive construction business, covering hot-button issues such as workforce development, insurance, estimating, project management, safety and liability, technological advancements, and legislative action.MORE...
Oil and gas Personal insurance Renewable energy Residential (single, multifamily and high-rise mixed use developments) Retail Schools/universities/institutional Sports arenas Utility-scale energy solutions If you do not see your project type, contact us for a customized solution. ...
After you’ve found a few builders that you’re interested in, be sure to check their licenses and insurance. Secure quotes Once you’ve found several builders you’re interested in, it’s time to get some quotes. Be sure to get a few different estimates to compare prices. When you’...