Construction Insurance

Find all the construction insurance your business needs
By Kristina Seleshanko As a contractor, you already know your state requires you to carry business insurance for construction companies. In most states, you'll need to have contractor liability and workman's compensation insurance. You may wish to add to that construction business insurance by having risk insurance, commercial vehicle insurance or any number of other, more specialized liability insurances.
 

As you check construction insurance rates, be sure to choose a reliable company that caters to the construction business. When it comes to the business of construction, insurance companies sometimes specialize and sell insurance only to those in your field. Be sure you also understand your state's requirements, as well as your personal business needs, and ask for construction insurance quotes from several different suppliers. In this guide, we'll look at buying:

1. Construction liability insurance,

2. Worker's compensation insurance for construction business,

3. And commercial vehicle insurance.

Buy general and contractor liability insurance

Commercial general liability insurance (also called CGL) covers property damage and bodily injury. Throughout the United States, the law requires that contractors have this type of insurance. You may also buy design and environmental liability insurance to supplement your general policy.
Try: Contractors Choice Agency specializes in contractor insurance for those working on residential and commercial properties. Zurich offers a Builders Risk Insurance Program for construction of single or multiple buildings. Arch Insurance Group provides construction risk insurance, environmental liability, general liability insurance and many other construction insurance policies. RA&MCO provides professional liability insurance for contractors and construction managers.

Purchase worker's compensation construction insurance

Worker's compensation (also called workman's comp) is a type of insurance covering employees who are injured or become ill at work. In most states, businesses must have worker's comp for their employees, and every state has slightly different requirements for coverage.
Try: ACE offers worker's compensation insurance with customized coverage. Contractors Prime Insurance Services is a construction insurance company offering worker's comp, as well as other types of insurance. Moonstone Interactive provides worker's comp for a variety of businesses. National CMServices provides high and low risk worker's comp.

Find commercial vehicles insurance for construction business

Private insurance policies don't cover most commercial vehicles. In order to protect your investment in trucks and other vital commercial vehicles, you must have a commercial vehicle insurance policy. Coverage options usually include bodily injury, property damage, uninsured or underinsured motorist coverage and medical payments.
Try: Liberty Mutual offers fleet and commercial vehicle insurance. American International Group also offers commercial vehicle insurance, tailor-made for your business. Safeco Insurance Company of America provides auto and truck insurance for businesses of all types. Progressive insures many commercial vehicles, including pickups, vans and more.

• Some trade or business associations can provide a discount on construction insurance cost if you purchase through specific insurance providers. Be sure to check out this option, as it could save you a bundle.