Construction Insurance in Stockton, CA

The construction industry consistently ranks among the most dangerous throughout the U.S. business world. Heavy machinery, working at height, sharp tools, hazardous chemicals and motor vehicles are all common fixtures of job sites. Given the consistent presence of such perils, even the most experienced and diligent businesses must establish and maintain appropriate risk management practices, including retaining suitable insurance.

What Is Construction Insurance?

Businesses in the construction industry may come in many shapes and sizes while offering various specializations and services. This typically results in a need for uniquely crafted insurance packages consisting of several policies and tailored coverage. Although some carriers may offer prearranged combinations generally suited for this sector, most businesses will still need to make adjustments and customizations to optimize their coverage.

What Types of Insurance Do Construction Companies Need?

While every construction business may have unique insurance needs, certain types of policies are highly recommended or even legally required for most. When assembling a construction insurance package, the following components are often essential:

• Commercial property insurance can cover a company’s tangible assets at its place of business, including structures, equipment and inventory.
• Inland marine insurance can extend property coverage to off-site tools, equipment, machinery and supplies, such as those being transported to, or stored at, a job site.
• General liability insurance may help manage third-party bodily injuries, property damage and personal injuries for which a policyholder is responsible.
• Professional liability insurance can offset legal expenses and losses if a client or other party alleges that a construction business failed to fulfill their duties.
• Workers’ compensation insurance can help manage financial consequences if an employee is injured on the job or develops a work-related illness.
• Commercial auto insurance may provide financial aid for losses arising from vehicle-related incidents.
• Business interruption insurance may compensate companies for lost revenue and ongoing expenses if they’re delayed by covered incidents.
• Builders risk insurance can cover structures being worked on, including those being renovated and built from the ground up.
• Commercial umbrella insurance may offer additional liability coverage should a particularly damaging incident exhaust other policies’ limits.

How Much Is Construction Insurance?

Insurers may need to carefully analyze a construction company’s risk levels and circumstances when calculating quotes. This process may often involve consideration of the following:

• Location
• Construction services offered
• Years in business
• Staff size
• Assets and revenue
• Claims history
• Coverage details (e.g., types of policies needed, limits and deductibles)

Learn More

Contact Yeyes Auto Insurance & Tax Agency today to discuss construction insurance options and find the right coverage.