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Inside Construction's 2024 Risk & Insurance Landscape

Construction Business Owner

Inside Construction's 2024 Risk & Insurance Landscape ccapoccia Mon, 04/01/2024 - 17:00 Uncertainty has defined the construction landscape for several years now. That change can alter your business’s risk — and the insurance necessary to protect it. That change can alter your business’s risk — and the insurance necessary to protect it.

Insurance 358
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9 Types of Insurance You Need to Protect Your Contractor Business

Construction Marketing

Between the potential for accidents and injuries on the job site and the risk of lawsuits, it’s important to have insurance to protect yourself from financial losses, but what kind of insurance do you need? Here’s an overview of the most important types of insurance for contractors. General Liability Insurance.

Insurance 156
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Rising Construction Costs Lead to Higher Risks

Construction Business Owner

These costs have surged due to a combination of factors, including supply chain disruptions, labor shortages, increased material prices, and evolving regional risk exposures. However, in the face of rising costs and shifting risk landscapes, these insurance options are becoming increasingly complex to navigate.

Risk 353
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7 Contractor Tips for Dealing With Insurance Adjusters & Owners

Levelset

As a contractor, you rely on the property owner to pay you for your work and materials. In turn, the owner is relying on the insurance company to pay their claim. After all, the faster the insurance company pays the owner, the quicker you can get paid ! You may feel the urge to step in and help with the adjuster.

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Does GC Insurance Cover Subcontractors?

Levelset

Luckily, that’s what insurance is for, right? Does a general contractor’s insurance cover their subcontractors’ accidents or mistakes? While there isn’t a cut-and-dry answer to these questions, we’ll take a deeper look into insurance coverage and what happens in these situations. Who is covered by an insurance policy?

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Restoration: How to Manage Cash Flow While Waiting for an Insurance Check

Levelset

Even though the insurance company isn’t your customer, the property owner may be depending on that insurance check to pay for your work. Meanwhile, you’re incurring expenses that drain your bank account, like purchasing materials and paying employees. Restoration contractors can spend a lot of time waiting for payment.

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How to Insure the Uninsurable

Construction Business Owner

Your leadership team spends hundreds of hours agonizing over any one project's schedule—what workers should be hired for which phase of the project; what materials should be shipped to the site when; when and how often project owners should be brought in for a status update; and more.

Insurance 219