Construction Insurance

Construction companies must be prepared for numerous inherent risks of the industry. Whether the exposures are related to property damage, injuries or other liabilities, the potential for financial losses is always present. Having comprehensive insurance can help mitigate these hazards. 

Determining exactly which coverages your business needs may be tricky. The knowledgeable professionals at Morehead Agency can help you secure the policies you need. Contact us today for more information.   

Types of Construction Insurance 
Insurance for construction companies consists of several types of commercial insurance that may cover your business, employees and your clients. Generally, your agent can work with you to help you find the right policies for your operations. Available coverages typically include: 

• General liability insurance—This may provide compensation to those parties (e.g., medical expenses) if your construction business is held legally responsible for bodily injuries or property damage to others. It may also cover associated legal fees.
• Commercial property insurance—This may pay repair or provide replacement costs if your business’s property (e.g., your building and its furnishings) is damaged by covered perils such as fires or vandalism.
• Contractor’s tools and equipment insurance—This coverage may protect your business’s movable tools and equipment by providing repair or replacement costs if they are lost, damaged or stolen.
• Builder’s risk insurance—This may provide coverage while a construction project is in progress. It may provide compensation if the building under construction or materials or supplies are damaged by a covered peril (e.g., fire).
• Commercial auto insurance—If your construction business owns vehicles, this may provide coverage if they are in an accident or sustain property damage.
• Pollution liability insurance—This may provide coverage if your business is responsible for releasing a pollutant that resulted in a third party’s property damage or injury, or if it required cleanup. Umbrella insurance—This can help fill in financial gaps in situations involving large liability claims that exceed your other policy’s limits. 
• Workers’ compensation—This may provide payments for medical bills or wage replacement to an employee after a work-related injury or illness.