A General Overview of Construction Insurance 

Construction projects, whether small renovations or large commercial builds, come with a variety of risks. From accidents on-site to damage to expensive equipment, having the right insurance in place is key to keeping operations running smoothly. Construction insurance is not a single policy; it’s a collection of coverages designed to address different aspects of your work.

Key Coverages in Construction Insurance

Most construction businesses benefit from combining several core policies to create a complete risk management plan:

• General liability insurance may help cover costs if your business is responsible for property damage or injuries to third parties.

• Workers’ compensation can assist with medical expenses and lost wages if an employee is injured on the job.

• Commercial property insurance may apply to buildings, tools and materials if they’re damaged by a covered event such as theft, fire or certain weather incidents.

• Commercial auto insurance is important if your company owns or operates vehicles for transporting materials, tools or employees.

• Builders risk insurance is designed to help cover structures under construction, as well as related materials and equipment, against losses during the build.

Customizing Coverage for Your Projects

Not all construction companies face the same level of risk. A residential remodeler may need a different insurance setup than a commercial builder handling multi-million-dollar projects. Factors such as the type of work you perform, the size of your crew and whether you use subcontractors can all affect which coverages and limits make sense for you.

Regularly reviewing your policies is just as important as choosing them in the first place. As your business grows or takes on new project types, your insurance should evolve to match your changing needs.

Learn More

GEC Insurance Services can help you assess your risks and build a construction insurance plan that fits the way you work. Contact our Arlington, TX office today to discuss your coverage options and prepare for your next project with confidence.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.