Types of Construction Business Insurance in Livermore

Different types of construction business insurance in Livermore help you manage risks. In order to manage risks on a site, it’s important to first identify risks associated with a project and then make sure policy terms and limits are enough to cover potential losses. For construction contractors, there are various types of policies to help cover any risks. Here are four types of policies.

General Liability

This is the most common type of construction contractor’s insurance. It covers property damage or bodily injury. However, it doesn’t cover defective work, only damage occurring as a result of it.

Umbrella Liability

Umbrella policies are useful to contractors operating large scale construction sites. Typically, it is purchased as a supplement to a general liability policy since those limits might not cover all the liability a contractor is responsible for. It’s designed to cover amounts over the general liability policy limits.

Builder’s Risk

This type of policy protects the insured contractor during the construction of a building. In most cases, the structure is covered, as well as materials. Covered tools and materials are insured while being stored on site, are being installed or are being transported to the site.

Professional Liability

This type of construction business insurance in Livermore is not always covered under a general liability policy. It is essential for contractors who work on projects that involve design. The designer-builder assumes responsibility for designs and any resulting liabilities, which is why it’s essential to consider this type of policy.

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