Construction Insurance
What You Need to Know About
Insurance for Contractors
Since 1956, RJ Ahmann Company has been a premier provider of insurance for construction businesses nationwide.
Wondering if your contracting company has the proper insurance coverage?
Construction sites can be dangerous, and construction companies have specific construction insurance needs. Without the right coverage and risk management tools, your business and your employees may be at risk. Here are just a few examples:
- If you work in a railroad right-of-way, you may need a railroad protective policy.
- If you work on a new building, you may be asked to provide builders risk insurance.
- If you are a subcontractor, you may need to waive the insurer's rights to subrogation.
- If you rely on heavy equipment to do your job, contractors equipment coverage is essential.
- To secure contracts for many jobs and to meet state licensing requirements, you need surety bonds.
- You may need pollution insurance to protect you if you contaminate the soil or air quality during the course of your work.
- If your employees drive in the course of their jobs, you need commercial auto insurance.
- If a customer suffers money damages due to your advice, a contractors errors and omissions policy will protect your interests.
Roughly 150,000 construction site accident injuries occur each year, according to the Bureau of Labor statistics. While falls make up the majority of construction site accidents, equipment injuries were also significant.
Who should have commercial construction insurance?
To protect themselves from a range of lawsuits and claims, most builders maintain construction business insurance. If you answer “yes” to any of the questions below, you need to consider a customized construction insurance program:
- Are you a developer?
- Are you a builder?
- Are you an engineer?
- Are you an excavator or do you employ excavators?
- Are you a contractor (roofing, framing, plumbing, asbestos)?
- Do you have employees at construction sites?
- Do your employees use heavy equipment?
- Are your employees at risk of falling or being injured by equipment?
How does builders construction insurance work?
A construction insurance program offers protection against third-party claims (contractors liability insurance), project damages during the course of construction (builders risk insurance), and the cost of medical expenses and disability payments if an employee is injured on the job site (workers' compensation). Depending on your specialty and exposures, there are many other specialized coverages available to meet your unique needs. Insurance coverage such as property, commercial auto, contractors errors and omissions, crime, pollution liability and employee benefits can all be tailored to the specific needs of your business.
And, a quality contractors insurance program has one more essential element – proactive risk management. At RJ Ahmann we go beyond coverage to provide you with tips, advice and tools to help you prevent and control claims, and improve your loss experience over time. For many companies, proactive risk management leads to dramatic savings and a competitive edge.
A smart solution
If you need a builders risk insurance policy or if you just want to learn more, RJ Ahmann can help. With more than 52 years insuring the construction industry, we combine decades of experience with access to all major construction insurance companies to deliver comprehensively designed, cost-effective insurance programs to builders. Our experienced construction experts will help you obtain smart coverage – tailored for your business's unique needs. We represent a variety of “A” rated carriers, so you can rest assured that your livelihood is protected with stable, reliable coverage.
To ensure that you get the strongest construction insurance protection at the best rates, we...
- Work with 32 contracted insurance companies to provide you with a range of choices unavailable at most other agencies. This access allows us to place your business with the companies who prefer to write your type of business and offer the most comprehensive coverage at the most competitive rates.
- Employ highly trained professionals who negotiate with top construction specialty carriers to cover your insurance needs at the best possible price.
- Utilize outside workers' comp specialists and claims advocates to help minimize your loss costs.
- Work with outside legal counsel to review contractual insurance language.
- Are a highly effective professional bonding agency.
- Help you operate more efficiently by using innovative approaches for waiver of subrogation and additional insured requirements that ease your administrative burden.
- Complete insurance certificates properly and on time, making sure coverage is compliant with the intended contract.
- Maintain many construction industry affiliations to keep on top of the changing needs of your industry.
Ready to Learn More? RJ Ahmann is Ready to Help with Insurance for Contractors!