Construction Equipment Rental Insurance: How & Where to Get Coverage Contractors and construction businesses that rent equipment should consider getting construction equipment rental insurance. This type of insurance covers the cost of replacing rented tools and equipment if they get... ...
Commercial General Liability: $1,000 Builders Risk: 3% of the project cost Workers Compensation: $6,000 per employee Commercial Auto: $2,000 per vehicle Inland Marine: $2,500 Typically, workers compensation costs will be fairly high for contractors since construction is considered a high-risk ...
Professional liability: $800-$2,000 Builders risk: 1-5% of project cost Workers’ Comp: $5,000-$8,000 per employee Commercial auto: $800-$5,000 per vehicle Surety bonds: $100-$10,000 Inland marine: $2,000-$3,000 Contact us today to learn more about our construction insurance soluti...
12.2.4 Contractor’s Liability Insurance Damage to the Work 11.1 3.14.2, 9.9.1, 10.2.1.2, 10.2.5, 10.4.1, 11.3.1, 12.2.4 Contractor’s Relationship with Separate Contractors Damages, Claims for and Owner’s Forces 3.2.4, 3.18, 6.1.1, 8.3.3, 9.5.1, 9.6.7, 10.3.3, 11.1.1, 3.1...
The defining characteristic of a cost-plus contract is it reports expenses as they occur rather than deducting costs from a set budget. A cost-plus contract is used when construction project expenses are uncertain. While this can seem like a liability, cost-plus contracts often include incentives...
How much does home insurance cost for new construction? As of November 2024, the average cost of home insurance for a home built in 2020 is $2,013 for a policy with a $300K dwelling limit. However, each home insurance company uses a proprietary method for calculating rates. So, when col...
has a wealth of experience arranging broad cover for our clients in a cost-effective way. Our insurance solutions are bespoke to our clients' needs but will be underpinned by some of the market leading, broker drafted policies and our extensive knowledge of the London construction insurance ...
Overhead and indirect costs are those non-direct costs that support the project, such as office expenses and general equipment. Meanwhile, insurance costs—including liability, property, and worker's compensation—should also be calculated based on the project scope and local regulatory requirements. ...
from liability. Thus, when a clause in a contract between a health club and a member, in which the member waived her right to bring legal action for injuries she suffered at the health club, was held to be ambiguous, it was construed strictly against the health club and it was found to...
Also, the more dangerous a project is considered, the higher the risk (and potentially cost) that comes with it for an insurance company. The location of the project: For example, a construction project may cost up to 20% more to insure if it's located along the coast vs. somewhere ...