General Liability vs. Builders Risk Insurance

Which Will Cover You?

The longer you have spent in the construction industry, the more you have seen the importance of construction insurance. Whether you have watched a storm flood a jobsite, faulty wiring lead to a fire outbreak on the jobsite, or the mistake of one of your subcontractors resulting in major damages, there has probably been a time where you were glad your contractors insurance could step in to pick up the tab.

When you face this sort of situation, which policy do you call on, though? Here is a look at what your builder’s risk insurance and general liability insurance cover.

• Builder’s Risk Insurance: This type of coverage protects the structure and the equipment and materials you need to complete it during construction. Generally, it covers damages caused by external events (i.e. those not caused by a worker’s error) like vandalism, fire, and storms. If you need protection after a natural disaster, this is likely the policy to tap.
• General Liability Insurance: If your client alleges that you caused property damage or injuries, your general liability insurance is the policy on which to draw. If you are legally required to pay for damages caused by you or one of your workers (including subcontractors), this coverage will help pay out towards that end. It can even help cover legal fees if you find yourself in court.

The good news is you will never have to figure out which policy to call on if you work with Built Insurance Brokerage. Our expert team can craft the exact policies you need, then guide you to best use them to protect your work and your business. For all of your general liability insurance, builder’s risk insurance, and other construction coverage needs, contact us today!