Whether you are having a private or a business project, construction insurance policies will legally protect you, your team or your company. They will cover any expenses for your project in case something happens during your operation or construction that could adversely affect its development. This will also save you time and money in case court problem or legal battle arises, big or small. However, construction companies usually need policies that are specialized for the whole coverage. Specialized construction insurance policies are very beneficial to contractors, builders, electricians, carpenters, plumbers and any construction professionals involved.
It is really crucial to understand the insurance policies completely. Most construction works involved operating heavy equipment and machinery that can injure workers or that might break down at any time. That is why standard commercial insurance policies and specialized insurance policies are very important for complete coverage. Builders and contractors must know what type of construction insurance they should choose. This will help them determine what option they should have.
Some of the most common construction insurance policies are the following:
1. Professional liability – this is also called errors and omissions insurance. This
protects clients from third-party claims of error and/or negligence.
2. Loss of income – this can cover a loss of income within policy limits due to business interruption.
3. Worker’s compensation – this could cover compensation to employees who are injured at the job site for medical expenses and fractional wage replacement.
4. General liability – this could cover liability costs to persons (non-workers) who got injured or their property got damaged within your work site.
5. Builder’s risk – This could cover property damage on work sites during the construction.
6. Commercial vehicle insurance – this could cover any vehicles that are business-owned or personal vehicles used for the business. These may include vans, trucks, cars, mixers, etc.
If you are ready for the process, call Allrisk Insurance now and get started today. Our number is – 1300 255 747. Call us ASAP so we can start to evaluate your business. This will help us select the best recommendation for you. We will provide you with the right policies based on our assessment of your company.
For more information about Construction Insurance Policy, visit our website.
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Insights
- What does Insurable Interest mean? *
- Uberrima Fides *
- Estimating project cost *
- Avoid common pitfalls and traps *
- Public liability insurance *
- Claim advice *
- Abbreviations and acronyms for owner builders *
- Comparing apples and oranges and grapefruit *
- Selling an owner-built home *
- Choose your builder carefully *
- Fire doesn’t burn metal or does it? *
- Medical expenses *
- Protect yourself *
- Build from Lock Up *
- Research your path to success *
- Rumours and Fallacies *
- Things go wrong *
- Green and environmental materials *
- Insuring owner builders *
- Can I put my insurance on hold *
- How long can I insure? *
- Why you need owner builder public liability *
- Volunteers on Site *
- Minimum insurance requirements *
- Workers Compensation in NSW *
- How do I make a claim *
- How much insurance is enough *
- What are existing structures *
- Owner builder construction insurance cover *
- My tradesmen are fully insured, right? *
- Getting Insured *
- Home Warranty *
- Injury Claims *
- Renovators Insurance *
- Insure me if you can *
Table of Contents
- What does insurable interest mean?
- Uberrima Fides
- Estimating project cost
- Avoid common pitfalls and traps
- Public liability insurance
- Claim advice
- Abbreviations and acronyms for owner builders
- Comparing apples and oranges and grapefruit
- Selling an owner-built home
- Choose your builder carefully
- Fire doesn’t burn metal or does it
- Medical Expenses
- Protect yourself
- Build from lock up
- Research your path to success
- Rumours and fallacies
- Things go wrong
- Green and environmental materials
- Insuring owner builders
- Can I put my insurance on hold?
- How long can I insure?
- Why you need owner builder public liability?
- Volunteers on site
- Minimum insurance requirements
- Workers compensation in NSW
- How do I make a claim?
- How much insurance is enough?
- What are existing structures?
- Owner-builder construction insurance cover
- My tradesmen are fully insured, right?
- Getting insured
- Home warranty
- Injury claims
- Renovators insurance
- Insure me if you can
- Construction Insurance
- Construction Insurance Ontario
- Insurance During Construction
- Construction Works and Public Liability Insurance
- Construction Insurance Policy
- Course of Construction Insurance
- New Home Construction Insurance
- Construction Business Insurance
- Construction All Risk Insurance
- Construction Risk Insurance
- Building Construction Insurance
- Owner Builder Home Warranty Insurance Australia
- Insurance for Construction Workers
- Owner Builder Home Warranty Insurance NSW
- Construction Insurance Qld
- Owner Builder Home Warranty Insurance New South Wales
- Construction Liability Insurance
- Owner Builder Home Warranty Insurance Victoria
- House Construction Insurance
- Owner Builder Insurance Cost
- Owner Builder Insurance Cost Australia
- Owner Builder Insurance Cost NSW
- Owner Builder Insurance Cost Victoria
- Owner Builder Insurance Cost New South Wales
- How Much Does Owner Builder Insurance Cost
- How Much Does Owner Builder Insurance Cost Australia
- How Much Does Owner Builder Insurance Cost NSW
- How Much Does Owner Builder Insurance Cost New South Wales
- How Much Does Owner Builder Insurance Cost Victoria
- Best Owner Builder Insurance
- Best Owner Builder Insurance Australia
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