What is Construction Insurance?

Working in construction comes with a wide range of possible risks, which include many liability- and property-related perils. Construction insurance policies help Massachusetts businesses in this line of work protect themselves from many of the risks that they face.

Construction insurance policies are commercial policies that have been uniquely tailored to meet the needs of professionals and businesses in the construction field. Because this work comes with multiple risks, most policies come with a variety of individual coverages that get packaged together.

Request a Quote!

What Massachusetts Businesses is a Construction Policy Right For?

There are many different businesses in Massachusetts that might benefit from the protections that a construction policy offers. Few businesses in the construction field have no risk exposure, and this is normally the most appropriate type of policy for these businesses to get.

Speaking more specifically, the National American Industry Classification System (NAICS) is a categorization system that’s widely used within the insurance industry. The system has more than 1.5 million different businesses that are categorized by industry, and there are a number of different construction-related business listed. Some of the more notable ones include:

  • General contractors
  • Residential remodelers
  • New construction companies
  • Structural construction companies
  • Street, highway and bridge construction companies
  • Land subdividing companies

Most businesses in these categories will find that a construction policy is well matched to their risk mitigation needs.

Businesses that would like to know whether they fall within any of these or another construction-related category according to the NAICS should speak with an insurance agent who specializes in construction liability insurance and related coverages. A specialized agent can look up the exact category that a business falls under based on the work that the business does.

Get a Free Quote!

Construction Insurance Massachusetts

What Protections Do Construction Policies Provide?

Construction policies typically offer a wide array of construction liability insurance, property insurance and other insurance protections that businesses can select from.

Some of the more commonly available liability protections are:

  • General Liability Coverage, which often protects against claims related to common accidents resulting in injury to others or property loss
  • Owners and Contractors Protective Liability Coverage, which often protects against claims related to damage that others’ property sustains
  • Professional Liability Coverage, which often protects against claims alleging an error in work completed or advice given
  • Commercial Umbrella Liability Coverage, which often provides extra liability protection for large and expensive claims that exceed primary policies’ limits

Talk to a Business Specialist!

Some property protections that are often offered are:

  • Commercial Property Coverage, which might protect owned facilities and equipment
  • Equipment Breakdown Coverage, which might cover essential equipment in the event that it malfunctions and needs repair
  • Inland Marine Coverage, which might cover supplies and equipment while they’re being transported to or from a job site

Most businesses in construction also need some form of commercial auto insurance, but the type of auto coverage that’s needed varies depending on who owns the used vehicles and how they’re driven. A knowledgeable insurance agent can help businesses decide what type of commercial auto insurance is most appropriate for their vehicles.

Construction Insurance Massachusetts

How Can Businesses in Massachusetts Get Construction Insurance?

For help insuring a Massachusetts business in the construction field, contact the independent insurance agents of Haberman Insurance Group. Our agents have helped many businesses in this field find policies that meet their construction liability insurance and other insurance needs, and our team is ready to assist you. Since we have only independent agents, you can trust them to recommend the best available construction insurance policies no matter what insurance company offers them.

Get a Free Quote!