Construction Insurance in Oklahoma City & Purcell, OK
Construction insurance can address risks associated with building, renovating or repairing structures. Jordan Insurance Brokers provides insurance options for Oklahoma construction businesses to help them manage financial losses resulting from covered events.
Why Does Construction Insurance Matter?
Construction projects can experience many possible incidents or issues, often leading to unexpected costs from on-site accidents or claims. The right combination of policies can help offset such burdens by distributing the risk to a carrier.
What Coverage Options Are Available for Contractors and Builders?
Standard construction insurance packages may include the following:
- Builders risk insurance may cover buildings and materials during construction, including losses against fire, theft, vandalism and specific weather events, as outlined in the policy.
- General liability insurance may provide coverage for third-party claims for bodily injury, property damage or personal injury that may occur on or off the job site as a result of your operations.
- Contractors equipment coverage may apply to valuable tools and equipment if they are lost, stolen or damaged.
- Workers’ compensation insurance may provide benefits to employees who are injured or become ill due to their work, as required in most states.
- Commercial auto insurance is also typically required by law and may cover vehicles used for business purposes, including trucks, vans and trailers traveling to and from job sites.
- Professional liability insurance may offer coverage for claims alleging errors, omissions or negligence in your professional services.
What Situations Does This Policy Exclude?
Standard policies may exclude the following:
- Intentional acts: Deliberate damage or misconduct may not be covered.
- Employee dishonesty: This may not be covered unless a separate fidelity bond is in place.
- Certain subcontractor activities: Some policies may limit or exclude coverage for work performed by specific subcontractors.
Secure a Policy Today
Contact Jordan Insurance Brokers to request a free personalized quote.