Coverages: General Contractors
WHAT IS A GENERAL CONTRACTOR?
General contractors, sometimes referred to as construction managers or project managers, use their knowledge of the construction industry to supervise the building, renovating, and retrofitting of any number of structures. You may find them working on commercial properties, private residences, and government-owned structures.
Traditionally, general contractors work under the “design-bid-build” model. They bid on a project
after the architects and engineers have designed it. Once their bid is accepted, they oversee the project to the end. “Overseeing” includes…
• Providing materials and equipment.
• Managing personnel.
• Setting schedules.
• Preparing budgets.
• Hiring subcontractors.
• Getting permits.
• Securing the property.
• Disposing of waste.
Common Coverage’s needed are:
General Liability Insurance. A general contractor can be sued long after their work is completed. And if a finished project physically hurts someone, everyone who worked on the structure can be sued over the injury. That’s why it’s important to make sure your client’s GL policy has Products-Completed Operations coverage, which can cover these kinds of lawsuits.
Property Insurance. General contractors may need Property Insurance to protect their commercial storage or real estate and all their tools, equipment, and furnishings. But they may also need…
∘∘ Inland Marine Insurance. This
policy can pay to replace or repair
a contractor’s tools when they are
lost or damaged in transit or at a
worksite.
∘∘ Builder’s Risk Insurance. While
construction is underway, it
may be the general contractor’s
responsibility to protect the
structure. They can likely draw on
their Builder’s Risk coverage in
case wind, fire, vehicles, vandalism,
or theft destroys the building before it’s completed.
Contractor’s Equipment Insurance.
A Contractor’s Equipment policy helps protect your client’s mobile equipment. “Mobile equipment” refers to bulldozers, loaders, and digging equipment.
∘∘ Commercial Auto Insurance. If the
general contractor’s business owns
vehicles, they may need Commercial
Auto Insurance. The policy can also
cover personal autos that are used
for work.
∘∘ License Bonds / Permit Bonds. Local
and state governments usually
require general contractors to have
License and Permit Bonds before
they can do any work. The insurer
issues the bond as a guarantee that
the general contract can fulfill their
licensing obligations and follow building regulations.
Architects and Engineers Errors and Omissions and Professional Liability Insurance,
Bonding for all types of Contractors Insurance,
Bricklaying Contractors General Liability Insurance,
Builders Risk or Course of Construction (COC) Insurance,
Building/Wrecking Contractors Insurance,
Commercial Building Contractors Insurance,
Commercial Subcontractors Gen Liab Insurance,
Construction Contractors General Liability Insurance,
Construction Insurance (Commercial) Insurance,
Contractors (Solar Energy) Insurance,
Contractors Equipment Insurance,
Contractors Equipment Rental Insurance,
Contractors Insurance,
Contractors/Construction Trades Insurance,
Contractors/Developers General Liability Insurance,
Demolition Contractors Insurance,
Demolition Contractors Insurance,
Demolition Environmental Contractors Program Insurance,
Environmental Consultant and Contractors Insurance,
Environmental Contractors Requiring Diverse Coverages Insurance,
Environmental Contractors Workers Compensation Insurance,
Environmental Contractors/Excess and Surplus Insurance,
Excavation Contractors Insurance,
Excavation Contractors General Liability Insurance,
General Contractors Insurance,
General Contractors Business Auto Insurance,
General Liability/Fire Suppression Contractors Insurance,
Grading of Land Contractors General Liability Insurance,
Hand Demolition Contractors (for Remodeling Projects) Insurance,
Independent Contractors Insurance,
Industrial Contractors Professional Liability Insurance,
Janitorial Contractors Liability Insurance,
Land Improvement Contractors Insurance,
Landscaping Contractors General Liability Insurance,
Large Contractors General Liability Insurance,
Lighting Install Contractors General Liability Insurance,
Manual Demolition Contractors (smaller structures) Insurance,
Maritime Contractors and Artisans Insurance,
New Environmental Contractors Program Insurance,
Owners and Contractors Protective Program (OCP) Insurance,
Paper General Contractors General Liability Insurance,
Private Municipal, State or Federal Contractors Insurance,
Radon Remediation Environmental Contractors Insurance,
Radon Testing Contractors Insurance,
Remedial Action Contractors Insurance,
Remodeling Contractors Insurance,
Remodeling Contractors General Liability Insurance,
Repair Contractors Insurance,
Repair or Service Contractors Insurance,
Residential and Commercial Sub-Contractors Insurance,
Residential Building Contractors General Liability Insurance,
Residential Contractors General Liability Insurance,
Residential Subcontractors Insurance,
Residential Subcontractors General Liability Insurance,
Restoration Contractors Pollution Liability Insurance,
Restoration Monoline Contractors Pollution Liability Insurance,
Restoration Monoline Contractors Pollution Liability Program Insurance,
SBA Bond Program for Contractors Insurance,
Servicing Contractors Insurance,
Sewer and Water Main Monoline Contractors Pollution Liability Insurance,
Site Developers/Demolition Contractors Program Insurance,
Site Preparation (Contractors) Insurance,
Site Preparation Contractors General Liability Insurance,
Small Contractors Insurance,
Small Contractors Business Auto Insurance,
Solar Energy Contractors – Business Auto Insurance,
Street and Road Contractors Pollution Liability Insurance,
Subcontractors General Liability Insurance,
UST / AST Contractors (Bond) Insurance,
Utility Contractors/Demolition Contractors Program Insurance,
Wetlands Contractors Umbrella / Excess Liability Insurance,
Wrecking Contractors Insurance