Construction insurance can include general liability coverage, professional liability, pollution liability, umbrella insurance coverage, commercial auto insurance, property insurance, subcontractor insurance, and more. All of these policy parts are designed to meet the insurance needs of different parts of a construction company’s business needs. Construction companies need to insure their own equipment and employees, as well as offer protection in case of accidents related to the environment, injuries to third parties, human error, and other potential construction mishaps.

Duliban has expert insurance agents who can assess your project and see what kind of construction insurance and add-ons would be best for your construction needs. This kind of insurance policy is designed for construction companies and the variety of work that is being done across Ontario.

For more information on construction insurance, free construction insurance quotes, or additional insight into insurance policies that could be right for you, visit www.dulibaninsurance.com or call 1-855-835-4226 to speak with an experienced, local insurance agent.

Product Details

Construction insurance is an important insurance policy for construction companies to have before embarking on any construction projects. Construction insurance can help insure commercial vehicles, property, subcontractors, provide specific and general liability coverage, and have the opportunity to have umbrella insurance coverage as well.

Construction companies handle projects from the ground up, from working with an architect and engineers to put the finishing touches on a residential or commercial building. Each project and each company is unique, which makes having the best insurance coverage all the more important.

All construction insurance policies can be customized to meet the needs of a particular insurance company. Additional coverage options include umbrella insurance and international construction insurance for construction companies that are working in multiple countries.

International construction insurance offers property insurance, casualty insurance, marine exposures coverage, builders risk insurance, contractors professional protective indemnity (CPPI), and supply chain insurance for companies working across international borders.

Coverage Details

Construction coverage can include:

• Commercial general liability: this coverage offers construction companies protection in case of injuries or property damage resulting from negligence or omissions. This policy can be customized for individual companies.
• Professional liability: this policy coverage extends to professional oversights that might occur during the planning or building process. Professional liability insurance can include protection against losses from negligence or omissions from architects and engineers, as well as subcontractors working with those departments. Professional liability can cover negligence from a contractor; it can also protect the owner from losses that are the consequence of negligence from the project architect or engineer.
• Pollution liability: is a policy coverage that protects contractors from third party claims of covered problems related to pollution. Pollution liability can extend to environmental services and environmental professional
• Property insurance: property insurance helps protect items that are being transported, such as tools, equipment, and materials. Property insurance can be extended to include crime insurance, equipment breakdown coverage, business interruption, and civil works.
• Subcontractor coverage: subcontractors are an essential part of the construction industry and allow construction companies to get highly specialized work done properly and on time. Subcontractor coverage can include coverage for unfulfilled subcontractor or supplier obligations, correcting non-conforming work, job acceleration, claim preparation expenses, and more.
• Commercial auto insurance: most construction companies have vehicles that they use for commercial purposes, such as tractors, trucks, cranes, and forklifts. These vehicles are often large and expensive and can cause a lot of damage if they are involved in an accident. Commercial auto insurance helps to cover these vehicles if they are damaged or cause damage or injury.

Additionally, umbrella insurance can be beneficial insurance coverage to have for a construction company. Umbrella insurance is excess liability coverage to bridge the gap between general liability and the overall cost of the project a construction company is working on. An umbrella policy is useful when a general liability policy isn’t enough to offer your company full coverage.

For instance, a construction company might have a one-million-dollar policy limit for general liability but are undertaking a project that requires a higher amount of liability insurance. Umbrella insurance can be added onto an existing construction insurance policy in order to raise the liability limit as high as needed, either for a short period of time or annually.