Construction Insurance in San Antonio, TX

Working in the construction industry requires responsible businesses to be aware of many risks, perils and exposures that could potentially impose devastating financial threats. Injuries on job sites, accidents causing delays and accidents damaging property can quickly snowball into catastrophic costs, possibly derailing a project and jeopardizing your business’s future. Offsetting these concerns requires a comprehensive risk management and loss control approach, including assembling a versatile insurance portfolio.

What Is Construction Insurance?

Construction insurance can generally be seen as a specialized form of business insurance intended for those in this dangerous sector. The term “construction insurance” does not always refer to a single insurance product available as a one-size-fits-all solution. Rather, contractors and construction firms may need to compile several types of coverage to ensure multifaceted protection from the various incidents that might befall them.

What Coverage Do Construction Businesses Need?

Given the various dangers on many job sites and the potentially expensive financial investments of project owners and developers, exact coverage needs may vary. However, your construction business may often find the following policies to be valuable and advisable:

• General liability insurance
• Commercial property insurance
• Builders risk insurance
• Professional liability insurance
• Workers’ compensation insurance
• Business interruption insurance
• Commercial auto insurance
• Inland marine insurance
• Commercial umbrella insurance

Additionally, your business may often need surety bonds, which can provide a form of financial reassurance to clients that even if you’re unable to fulfill your duties as expected, they’ll be compensated for financial losses.

How Much Is Construction Insurance?

Many factors can influence rates for the various components of your construction insurance package. Carriers may vary in their exact quoting methods, but you can typically expect the following aspects of your business to be considered:

• Location
• Construction services offered
• Workforce size
• Value of insured assets
• Estimated annual revenue
• Claims history
• Coverage details (e.g., types of insurance needed, limits, riders and deductibles)

Get the Right Coverage

Contact American Eagle Insurance today to learn more about construction coverage options or to get a free quote.