Construction Insurance in Redwood City, CA

Construction insurance is a critical safeguard for contractors and builders, offering financial protection and peace of mind throughout the construction process. This specialized type of insurance may cover various risks and liabilities associated with construction projects, ensuring that both construction businesses and their clients are financially protected against potential accidents and errors. 

What Does Construction Insurance Cover? 

Construction insurance typically does not refer to a single policy capable of covering all of a firm’s risks and exposures. Rather, an employer in the construction sector may need to compile a portfolio of coverage offerings that, when woven together, provide a financial safety net capable of responding to a range of common incidents. 

While the exact details of an ideal construction insurance portfolio may vary, the following coverage options may be advisable: 

• Commercial property insurance—This coverage may help pay for financial losses stemming from damage to a construction company’s buildings, inventory and equipment. 
• General liability insurance—If a third party, such as a passerby or neighboring property owner, sustains injuries or property damage due to a construction firm’s operations, this coverage may help pay for the resulting financial losses.

• Builders risk insurance—This type of insurance may cover structures under construction, including those being built from the ground up and those being renovated. Such coverage may also provide protection for materials and equipment at job sites.
• Business interruption insurance—If an incident disrupts a construction company’s normal operations, this coverage may help pay for lost income while also potentially covering various other expenses, such as rent and payroll.
• Errors and omissions insurance—This coverage may provide financial assistance if a client or customer alleges that a construction firm provided inadequate products or services, such as by failing to complete a project within contractual timelines.
• Workers’ compensation insurance—Such coverage may help a construction company pay for medical expenses and other financial losses arising from employees’ occupational injuries or illnesses. 

While the aforementioned types of insurance may be appropriate for most firms, a construction company should also work with a qualified agent, such as those at Gordon Insurance, to identify any additional coverage needs. 

How Much Does Construction Insurance Cost? 

The cost of construction insurance can vary significantly based on several factors. Some of the main determinants may include the following: 

• Business location
• Construction services offered
• Number of employees
• Prior claims history
• Portfolio details (e.g., coverage needs, policy limits and deductibles) 

Get the Right Coverage 

Based out of Redwood City, the dedicated team of knowledgeable professionals at Gordon Insurance is well-equipped to help construction companies address their coverage needs. Our agents work with businesses in San Francisco, San Jose, San Mateo, Woodside, Atherton, San Carlos, Palo Alto, Belmont, Hillsborough, Menlo Park and the surrounding areas, and will draw on extensive experience to assemble optimal insurance portfolios. Contact us today to get started.