Construction Insurance in Carmel, CA
Those in the construction business need a combination of insurance types to mitigate various risks. Construction insurance may help cover contractors, property owners and other parties against damages or liabilities arising during a building project or through routine business operations.
What Types of Insurance are Essential for My Construction Business? 
Here are common types of insurance every construction company should consider:
- Builders’ risk insurance may prevent financial loss if buildings under construction are damaged by fire, vandalism or severe weather events.
- General liability insurance may compensate third parties if your business is responsible for their bodily injury or property damage. If your business is sued, this may also cover your legal fees and court awards.
- Errors and omissions insurance may cover claims of negligence or mistakes in professional services.
- Commercial auto insurance may reimburse accident-related expenses involving your delivery vans, trucks and other company vehicles.
- Workers’ compensation insurance may pay medical bills and replace lost wages for employees who fall sick or become injured due to their jobs.
- Inland marine insurance may pay to repair or replace tools, equipment and materials in transit or stored off-site.
- Pollution liability insurance may cover claims related to environmental damage due to construction activities, such as soil contamination or hazardous waste exposure.
How Much Should I Expect for Coverage?
Construction insurance rates are usually calculated based on your risk exposure, payroll and the value of insured assets. Your business location and the scope of your projects may also impact premiums. Consult with an agent from Monroe-Kelly Insurance Services Inc to help you compare pricing and coverage options.
Connect With Us
The agents at Monroe-Kelly Insurance Services Inc are ready to help you find a suitable policy. Contact us today to get a construction insurance quote.