7 Types Of Construction Insurance Your Company Should Consider

You've worked hard to build your business. Now that you are doing well, you need to ensure your business is safe from various risks. For construction companies, these risks can be expansive. The right construction insurance can reduce these risks and give you peace of mind with each project you complete. The problem many business owners have is navigating the numerous types of construction insurance available while ensuring their budget is also met. The following are some of the options available to you for construction and contractors insurance, which you can discuss at greater length with your independent insurance agent.

Commercial Auto Insurance: Safeguard your vehicles both on the road and off. Commercial auto insurance can cover most of your company's vehicles, as well as your entire fleet. From the dump truck to the sales professional's small car, you need property, liability and even collision insurance.
Property Insurance: This type of plan covers your building, outbuildings, inventory, materials and equipment. It helps cover your business' real estate assets.
Equipment Breakdown Insurance: This type of policy can help you to quickly get back up and operational when you have equipment failures.
General Liability Insurance: Liability risks in the construction business are high, but adequate general liability insurance can help to reduce these costs substantially. In short, this type of insurance protects against lawsuits filed against your company due to poor workmanship, employee miscommunications and much more.
Umbrella Insurance: Often, a general liability insurance plan is not enough. Umbrella insurance offers more protection from higher risk levels. In the construction industry, a misstep can lead to thousands of dollars' worth of loss, making higher coverage a worthwhile consideration.
Workers Compensation Insurance: If you have employees, you may be required under law to maintain workers compensation insurance for your business. Workers compensation insurance aids in covering loss related to employee injuries and accidents.
Inland Marine Insurance: This type of insurance offers financial protection for a range of items and situations — including contractor's equipment and builder's risk protection for marine projects.

Ready to choose the right construction and contractors insurance for your company? If so, work with your agent to customize a plan that ensures ample protection for your company. Even in the safest environment with the most skilled crew, mistakes can happen.

We'll help you find the right coverage. Call Buschbach Insurance Agency at (708) 423-2350 for more information on Chicago IL construction insurance.

7 Types Of Construction Insurance Your Company Should Consider

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