Knowing Your Coverage Options

SB One Insurance

Those working in the construction industry have different risks from those who may operate a retail business or restaurant. Even though the nature of the job site or project might vary, there are some areas of risk that are common to all those in construction. The professional at SB One Insurance advises that there are three of them.

  • Injury claims. If someone is injured while on the job site, a policy may be used to help pay for the medical expenses, death and funeral costs, or court-awarded retribution. This coverage is different from a worker’s comp policy.
  • Damage claims. If the course of your operations damages the client’s property, there are insurance policies that can cover the costs of repair. It may be of use if your activities take away the client’s ability to use the property.
  • Product claims. Claims that deal with damages caused by equipment or products installed by your company are another liability. The right coverage can have these situations included in the coverage.

Liability insurance is the first line of defense against financial loss, and there are policies that can be written to address the unique areas of exposure for those who work as contractors or builders.  Insurance that offers liability for builders is well worth the investment, as it provides protection for several areas.