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Builders Risk / Contractors Construction Liability Insurance

Constriction Liability & Builders Risk Insurance Services

Builders risk and contractors construction liability insurance policies are designed to protect the materials, fixtures and equipment used during construction in the event of physical loss or damage. New construction, remodels and renovations can all be covered by this insurance plan. Wrap-up insurance covers contractors and subcontractors working on large projects and can include general liability, excess or umbrella, workers compensation and other various construction-related coverage for all employees involved in the project. Insurance coverage can protect your business in the event of a lawsuit or damages during the construction process. Builders risk insurance provides:

  • Builders risk property on-site, off-site and in transit
  • Owner-controlled insurance program (OCIP)
  • Owners and contractors protective (OCP) liability coverage
  • Surety bond for construction, contractors, performance, bid, payment and design firms
  • Wrap-up, contractor-controlled insurance program (CCIP)

Detailed Coverage

Many professional liability claims are made against architects and engineers by building owners regarding alleged negligence, errors or omissions in the design for structural integrity and components, building subsystems such as curtain walls or roof assemblies or equipment loss or damage. Contracts may be allegedly breached when professionals are charged with failure to meet the terms and conditions of written contracts associated with the professional services provided. General contractors, developers and homeowners can protect their structures that are in the process of being built by investing in building risk insurance. Coverage can also protect building materials and equipment. Every insurance package is customized to meet the needs of each client, so be sure to discuss all of your concerns when signing up for a policy to ensure you receive a package to suit your needs. Coverage can include:

  • Advertisement: Ad campaigns that unintentionally cause harm can be covered.
  • Copyright: If a product your team creates is too similar to a competitor’s, then you may be sued for copyright infringement, which can be included in your coverage plan.
  • Damage: Claims filed against the construction team can be protected if the company damages a customer’s property or prohibits the client from using the property based on unexpected delays. If materials are lost or damaged, replacement costs can be covered. Coverage can also include building materials, equipment, fixtures, foundations, machinery and supplies and debris removal.
  • Injury: Medical expenses, funeral and compensations can be covered.
  • Product: Damages caused by the construction team’s equipment can be covered.

Protecting Your Assets

Fire, wind, theft, explosions, weather-related events such as hail or a hurricane, vehicle or aircraft interference and vandalism may occur at any point during construction, so protecting your assets and team can help you prevent significant financial loss in the event of an accident or unexpected circumstances. Contractors who work on extensive projects can benefit from this coverage by protecting unfinished structures and equipment while they are on the client’s property. Injuries, property damage and costs involved with these issues, such as attorney fees, witness fees and court expenses can be included in the coverage. A certain level of security can be provided by establishing an appropriate insurance policy.

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4160 Temescal Canyon Rd., Suite # 214
Corona, CA 92883

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Main: (951) 368-0700
Fax: (951) 368-0707