Welcome to the Carvo Insurance Group blog! Today, we’re focusing on a vital aspect of the construction industry: general liability insurance. This coverage is essential for construction businesses, from small contractors to large construction firms. We’ll answer your questions about general liability insurance for construction, using our expertise to clarify why this insurance is critical and how you can secure it with ease through instant online quotes, instant online binding, and instant online insurance proposals.
What is General Liability Insurance for Construction?
General liability insurance for construction companies protects against several risks that are inherent in the construction industry. This includes bodily injury, property damage, and personal and advertising injury that can occur on a job site. For example, if a third party is injured at the construction site or if property is damaged during construction, this insurance can cover the associated costs and legal fees.
Why is it Essential for Construction Businesses?
Construction activities pose higher risks than many other industries due to the nature of the work. Heavy machinery, hazardous materials, and the physical construction process itself can lead to accidents or damage. General liability insurance helps construction businesses manage these risks by providing financial protection against claims that could otherwise be financially devastating.
What Does General Liability Insurance Cover?
For construction businesses, general liability insurance typically covers:
- Bodily Injury: Medical costs and legal fees if a non-employee is injured at the construction site.
- Property Damage: Costs associated with damage to property not owned by the construction company.
- Personal and Advertising Injury: Liability arising from slander, libel, or false advertising.
- Products-Completed Operations: Coverage for property damage or injuries caused by completed construction work.
How Much Does it Cost?
The cost of general liability insurance in the construction industry can vary based on several factors:
- Type of Construction Work: Higher risk activities typically incur higher premiums.
- Size of Projects: Larger projects often require higher coverage limits, increasing the cost.
- Location: Insurance costs can also vary depending on the state and local regulations.
- Claims History: A history of claims can lead to higher premiums.
How to Obtain General Liability Insurance?
Carvo Insurance Group simplifies the process of obtaining general liability insurance for construction companies. Through our platform, you can access instant online quotes, engage in instant online binding, and receive an instant online insurance proposal. This makes it fast and easy to get covered, so you can focus on your construction projects without worry.
