Other Business Insurance for Construction Companies
If you provide any kind of advice or have responsibility for site design, then you should also consider taking out Professional Indemnity insurance, which protects you against claims against professional negligence or poor advice.
You should also consider a Structural Warranty, which provides the owners of buildings with ten years of protection against “latent defects” to buildings — these are construction defects that are not discovered until after the project is completed. Structural warranties tend to be purchased by construction companies, but they provide cover for owners of the new buildings.
Personal accident insurance is also important for anyone working in construction, covering as it does both medical costs and lost earnings resulting from serious injury.
Other Building Site Insurance policies available to construction companies include plant and machinery insurance, tool insurance, and business equipment insurance.