Construction
The construction industry may be the most exposed to litigation, especially in the State of New York. From construction default suits to on-site injuries, without the proper insurance your business can go bankrupt very quickly.
General Liability policies are offered by numerous carriers to cover General Contractors however it’s the endorsements and exclusions that dictate the coverage on these types of policies. Many General Contractors are required by their client or a government entity to have specific insurance coverage that not all policies include.
Our agency takes the time to assess your needs and carefully review any insurance requirements that you have been asked to comply with. Whether it is for filing jobs with a local jurisdiction or to win a contract from a property management company, we have the expertise and resources to put you in the best position to succeed while also having full protection from the perils of this industry.
We work with carriers that offer specialized products to fit all kinds of construction projects.
Builders Risk: this policy is designed to protect owners, developers and general contractors from unexpected situations that may occur during a construction project. This covers building materials stored on site, permanently installed fixtures and equipment. The purpose of the policy is to protect completed additions from the perils of fire, windstorm, and other hazards that may occur. Either you as the contractor or the property owner must have this coverage.
Employer’s Liability: this policy covers an employer from third party liability claims which arise from an injured employee such as manufacturer suits or loss of consortium from a spouse or child of an employee. This is excluded in most CGL policies so it is essential to ensure you have this coverage in place. In New York State, this coverage is included in Workers Compensation policies.
Third-Party Action Over Coverage: In NY State, there is a third-party labor law that allows workers in the construction industry to sue property owners and general contractors for their injuries even after receiving Workers Compensation benefits. This leaves property owners and general contractors highly exposed to lawsuits and insurance costs to cover these claims are very costly. Most insurance policies have a specific exclusion that reads “Excl. to injuries to subcontractors and employees of subcontractors” or “Action Over Exclusion”. At USA Mutual Insurance, we have specific insurance products that shield businesses and property owners involved with construction from this exposure.
Most CGL policies specifically exclude any claims related to this NY Labor Law that allows injured employees to litigate against a third party. It is highly likely that these claims will circle back to the General Contractor from the third party and without the right coverage you are left extremely vulnerable.
USA Mutual insurance agency has access to industry leading carriers that offer this specific coverage for General Contractors. Speak to us today and see how we can help grow and protect your business.
General Liability policies are offered by numerous carriers to cover General Contractors however it’s the endorsements and exclusions that dictate the coverage on these types of policies. Many General Contractors are required by their client or a government entity to have specific insurance coverage that not all policies include.
Our agency takes the time to assess your needs and carefully review any insurance requirements that you have been asked to comply with. Whether it is for filing jobs with a local jurisdiction or to win a contract from a property management company, we have the expertise and resources to put you in the best position to succeed while also having full protection from the perils of this industry.
We work with carriers that offer specialized products to fit all kinds of construction projects.
Builders Risk: this policy is designed to protect owners, developers and general contractors from unexpected situations that may occur during a construction project. This covers building materials stored on site, permanently installed fixtures and equipment. The purpose of the policy is to protect completed additions from the perils of fire, windstorm, and other hazards that may occur. Either you as the contractor or the property owner must have this coverage.
Employer’s Liability: this policy covers an employer from third party liability claims which arise from an injured employee such as manufacturer suits or loss of consortium from a spouse or child of an employee. This is excluded in most CGL policies so it is essential to ensure you have this coverage in place. In New York State, this coverage is included in Workers Compensation policies.
Third-Party Action Over Coverage: In NY State, there is a third-party labor law that allows workers in the construction industry to sue property owners and general contractors for their injuries even after receiving Workers Compensation benefits. This leaves property owners and general contractors highly exposed to lawsuits and insurance costs to cover these claims are very costly. Most insurance policies have a specific exclusion that reads “Excl. to injuries to subcontractors and employees of subcontractors” or “Action Over Exclusion”. At USA Mutual Insurance, we have specific insurance products that shield businesses and property owners involved with construction from this exposure.
Most CGL policies specifically exclude any claims related to this NY Labor Law that allows injured employees to litigate against a third party. It is highly likely that these claims will circle back to the General Contractor from the third party and without the right coverage you are left extremely vulnerable.
USA Mutual insurance agency has access to industry leading carriers that offer this specific coverage for General Contractors. Speak to us today and see how we can help grow and protect your business.