Our broad experience includes risk management for general and subcontractors who focus on commercial, municipal, government, and public works projects.
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Call: (256) 878-9172
Please note: coverage cannot be bound or altered online. A service representative will need to contact you to finalize your request.
What You Need to Know About Construction Insurance
Harris-Fowler Insurance has been notably focused on serving the construction industry. Our broad construction insurance experience includes risk management for general and subcontractors who focus on commercial, municipal, government, and public works projects.
We have a deep understanding of the unique exposures faced and the coverages that various construction projects require.
We have a current understanding of the industry and the associated markets and trends - including a strong relationship with the key construction insurance companies who provide coverage to the construction industry.
Who needs construction insurance?
If you’re in a construction business you should always have commercial insurance. Many businesses are required by their clients to carry specific coverages before they can work for them. Businesses involved in construction work often specialize in trades like:
- Home Improvement
- Land Clearing
- Home Building
- Asphalt Laying
- Fence & Deck Building
- Concrete Laying
- Stone & Granite Work
How much does construction insurance cost?
Different trades are exposed to different types and degrees of risk. This variety of exposure is one of the many factors used to calculate a business’s construction insurance cost.
Other influences on your rate include your coverage needs, employees, work vehicles and claims history. The only way to know your exact rate is to get a customized construction insurance quote. Just call us or receive a quote online.
Basic Construction Insurance Coverage
- General Liability: This construction liability is pretty common and the coverage protects your business if it’s responsible for anything like property damage, bodily injury or incorrect work.
- Commercial Auto: Protects vehicles used in your business that transport tools and equipment. You can also add coverage to your policy that allows you to cover permanently attached equipment such as bolted tool boxes or racks.
- Workers’ Compensation: Covers employee medical costs and a percentage of lost wages if they become ill or injured at work.
- Professional Liability: helps to pay for alleged work oversights that cause a client a financial loss. If someone says you didn’t deliver the services you said you’d provide, they can ask you to pay for any losses. Professional liability can help cover the costs to defend your business and/or fix the problem.
Contract and Lease Review
We review the indemnification and construction insurance language in existing leases and contracts, including the scope of indemnification and hold-harmless language, requirements for waivers of subrogation on property, liability, and workers compensation, and appropriateness of construction insurance requirements.
Surety / Bond Services
Our surety department works with clients to develop customized bond programs that fit each client's unique needs. Surety companies are reviewed and evaluated for consistency in underwriting, capacity, ratings, stability, and rate economy. Clients are effectively represented to surety markets with assistance in bond request presentation, review of bond requests for appropriateness, and prompt, correct bond issuance.
General Safety Procedures
◦ Protect your employees by minimizing any job hazards.
◦ Prepare emergency announcements and do test runs of emergency response systems to familiarize employees.
◦ Choose a practical flooring surface, not just one that looks nice. Often, the best looking floors can be the most dangerous and will be slippery when wet.
◦ Customize workspaces to fit each employee’s needs through ergonomic adjustments. By ensuring that an employee’s work space is tailored, you create a safer environment less prone to bodily stress or injury, and thus, less prone to workers compensation claims.
◦ Educate your employees on the safest way to lift objects. Squatting with bent knees minimizes the stress to the back, regardless of what is being lifted.
◦ Create a policy on distracted driving. Motor vehicle accidents account for a large percentage of work-related fatalities. Eating and drinking, cell phone use, and music devices are all possible sources of distraction behind the wheel. A good policy can help prevent fatalities and limit liability for your company.
◦ Establish and enforce disciplinary measures for safety violations. There should be some type of corrective action for any employee who doesn’t abide by safety requirements.
◦ Train your supervisors in-house. They may have previously been trained as supervisors in general, but they need to also be trained in your particular work environment.
Harris-Fowler Insurance offers unique solutions to your construction risks
The construction industry faces unique risks and thus requires different layers of protection than many other types of businesses. Not sure which of these coverages is right for your construction firm? Our staff provides accurate and timely delivery of certificates of insurance. We also provide assistance and reviews of certificates and risk transfers. With our understanding of the design and administration of wrap-ups, we can help contractors navigate the construction defect litigation landscape. Our tailored risk management solutions enable contractors to respond to market fluctuations and better predict future costs.