Construction Site Insurance Overview
Construction Def: is the process of constructing a building or infrastructure.[1] Construction differs from manufacturing in that manufacturing typically involves mass production of similar items without a designated purchaser, while construction typically takes place on location for a known client.[2] Construction as an industry comprises six to nine percent of the gross domestic product of developed countries.[3] Construction starts with planning, design, and financing; and continues until the project is built and ready for use. Source: Wikipedia
Protect You Project With Construction Site Insurance
Unexpected accidents, timelines, change orders or contract administration can all result in costly disruptions to your project. Whether your construction project is in its early blueprint stage or nearing its final nail, there are a wide variety of insurance coverage products available to suit your specific construction project needs. Those who need construction insurance include but are not limited to the following:
- General Contractors
- Heavy Contractors
- Trade Contractors
- Home Improvement Companies
- Architects/Designer/Engineers
Construction Site Insurance Products
No matter how big or small your project is, there are a variety of different risks that your project may face. The following construction insurance products can help ensure that you are adequately protected:
- Builder’s Risk Insurance / Course of Construction
- Construction Wrap-Ups
- Contractors Pollution Liability
- Inland Marine
- Installation Floaters
Construction Site Insurance Facts
Equipment theft from construction sites costs contractors up to $1 billion a year! That works out to 500 pieces of construction site equipment going missing every week.
The 4 primary construction industry exposures:
- Property damage
- Employee injuries
- Income loss
- Liability risk.
Construction’s 5 most frequently cited safety violations:
- Fall protection
- Hazard communication standard
- Scaffolding
- Respiratory protection
- Control of hazardous energy
To Learn More About Construction Site Insurance Speak To An ALIGNED Insurance Advocate Or Connect With Us Today At Aligned Insurance.
