Construction is high-stakes work. Heavy equipment, tight deadlines, subcontractors, and changing job sites create a perfect storm of risk. At Althans Insurance Agency, we specialize in helping construction businesses build a solid foundation of protection.
Let’s get into the specific coverage options that you need to ensure that your construction business is safe and secure, come what may.
What is Construction Insurance?
Construction insurance is a broad term, but put simply, it’s a collection of insurance coverages that protect you and your employees during a construction project, all rolled into one policy. Contractors and subcontractors who work on residential or commercial properties need these protections in order to effectively do their job while providing for themselves and others should things go awry.
Why Do I Need Construction Insurance?
Things happen. Equipment fails, people might get hurt, and materials could be delayed. Accidents are a part of life, and the probability rises on a work site. Everyone tries their best, but sometimes the weather or the site simply won’t cooperate. It is for times like these, when mishaps show up and less-than-ideal situations arise, that you need construction insurance. It’s easy to think that “worst case” will never happen to you, but we’d argue that it’s better to be realistic and take the steps necessary to ensure that should things go sideways, you, the property owner, and your workers are protected.
Construction Insurance Must-Haves
At Althans Insurance Agency, we help businesses navigate the complexities of coverage. Here’s a breakdown of the core policies that every growing construction business should consider:
- Builders Risk Insurance: covers materials and work in progress against physical damage from events like fire, theft, vandalism, and severe weather during a project
- General Liability: protects against bodily injury, property damage, and personal or advertising injury claims (e.g., slip, trip, or fall on the jobsite or accidental damage to a client's property)
- Commercial Auto: covers company-owned trucks and equipment trailers in the event of accidents, property damage, medical expenses, and legal fees
- Workers' Compensation: critical coverage that is often legally required to pay for medical care and lost wages for injured employees, along with related lawsuits
- Contractor’s Equipment Coverage: a type of inland marine insurance that covers mobile and portable equipment between job sites and against theft, vandalism, fire, flood, and accidental damage
- Commercial Umbrella Liability: offers additional protection that goes beyond the limits of your primary policies for covering catastrophic claims
In business, you sometimes need to take big risks. But that often means big costs. Don’t leave your next project to chance. Althans Insurance Agency can help you tailor a policy package that meets the demands of your business and satisfies the project owner's requirements. We know that construction insurance is never a one-size-fits-all situation, and we’ll work with you to ensure that you have the right coverage levels and types to stay legal and safe. Build confidence all around with the right coverage on your next project.
Your Source For Construction Insurance In Cleveland
To have confidence on the job, you need skill, experience, a top-notch crew, and a wide safety net. With Althans Insurance Agency at your back, you can rest easy, knowing that whatever challenges life throws your way, you’re protected. There’s a reason we’ve been in business for a century–get to know what sets us apart. Contact us to learn more about our commercial insurance offerings and to see how we can help you grow with confidence!