Construction is one of the most complex industries to insure. Between managing subcontractors, operating heavy equipment, and working on job sites with dozens of moving parts, the exposure a construction company faces goes far beyond what a standard business insurance policy covers.
Most construction companies know they need general liability insurance. What many don't realize is how many gaps exist in their current coverage that only surface when a claim comes in.
One of the most overlooked areas is builders risk insurance. Builders risk covers buildings and structures under construction against damage from fire, theft, vandalism, and weather events. Without it, a single storm or fire on a job site can result in hundreds of thousands of dollars in uninsured losses.
Surety bonds are another area that catches construction companies off guard. Many public and private contracts require contractors to carry surety bonds before work can begin. A surety bond guarantees that your business will complete the project as agreed. Without the right bonding in place, your business can miss out on major contracts entirely.
Workers compensation is required in most states for construction companies with employees. Given the physical nature of construction work, workplace injuries are a real and frequent risk. Having the right workers compensation coverage protects both your employees and your business from the financial fallout of a serious injury on the job.
Commercial auto insurance is also critical for construction companies. Vehicles hauling materials, transporting crews, and moving equipment between job sites all need proper commercial auto coverage. A personal auto policy will not cover a vehicle being used for business purposes.
AOR Insurance has helped construction clients save significant money while improving their overall coverage. Our independent broker model and access to A+ rated carriers across all 50 states means we can build a construction insurance program around your specific operation rather than offering a one size fits all policy. Get a free comprehensive risk profile at aorinsurance.com.