Contractor Bond Insurance

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.

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 Bay Area Insurance Services, Inc. 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.