Construction insurance provides coverage for risks, mitigates financial and legal liabilities, and ensures smooth project operation by promoting the best practices and safety measures.
For damage to the building site, construction equipment, and materials, construction insurance can help pay for it. It additionally covers injuries to workers and any harm or loss to a third party.
The cost of all construction insurance rates is based on the degree of risk there is, the amount of coverage, the underwriting factors, and how customized the policy is.