The client and financial institution may also require that you name them as “additional insured”. Be ready with the names and addresses requiring this endorsement. A certificate of insurance naming them as additional insured will be issued to them.


Businesses engaged in construction not only need insurance to protect their business, but they must comply with the requirements of the client, the construction contract, and the lending institution if securing a construction loan. Coverage you may need for your project includes, but is not limited to:

  • General Liability
  • Business Vehicle
  • Workers’ Compensation
  • Builder's Risk
  • Performance Bond
  • Professional Liability
  • Flood Insurance


Builder's Risk is a special type of property insurance that covers a structure, commercial or residential, while it is being built, renovated or repaired. It can also cover the materials on site or in transport to the site.


Coverage should accurately reflect the building’s completed value. Policies are written for the time period when construction begins and expire when construction is complete.


It is important to note that the owner’s existing property insurance may cover the work under construction, however, the contractor may be required to buy it as a requirement of the contract.


While builder's risk covers events such as fire, wind, lightning, hail, theft, etc. it does not cover every incident that occurs nor does it cover contractors' negligence. Separate policies should be considered for risks such as water damage, employee theft, faulty materials, etc.


Builder's Risk

Professional Liability

Performance Bonds

A performance bond is a type of insurance that secures the adequate completion of a job. In the event that the work is not completed as specified by the contract, the surety bonding company will compensate the property owner for the loss either monetarily or by hiring another company to complete the job.


Professional Liability insurance, also known as errors and omissions, is recommended and even required in some industries for businesses that provide services. General Liability and Builder's Risk policies generally exclude claims from customers harmed by faulty design, planning, workmanship, materials, or providing inaccurate advice.


Flood Insurance

Not all water damage is covered by liability and property insurance policies. Separate flood insurance policies are needed for adequate protection from these occurrences. Visit our Flood Insurance page for more information.