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Construction

Construction projects come with a unique set of challenges and risks, particularly for firms that employ the design-build project delivery method. KRGinsure offers specialized insurance solutions designed to cover the wide range of exposures faced by construction companies, ensuring the protection of your business and its assets.

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Coverage Options for Construction Firms

Unique Design-build Exposures

Design-build is a project-delivery method that provides an owner with one point of contact for both the design and construction elements of a project. This process has gained popularity in recent years largely due to its simplicity, affordability, and speed. However, it introduces unique risks that firms need to address.

What Are the Unique Risks?

  • Professional Liability: Unlike the traditional design-bid-build method, design-builders are accountable for the accuracy of plans, the execution of construction, and the safety of the job site. This increases the risk of workplace accidents, specification errors, material failures, construction errors, and delays.
  • General Liability Limitations: General liability policies often exclude professional liability exposures. Claims related to preparing blueprints, reports, surveys, field orders, change orders, and other professional services are typically not covered.
  • Increased Liability: Taking on both design and construction roles means inheriting more professional liability, which can lead to severe financial losses if not properly managed.

Professional Liability Insurance

For design-builders, securing professional liability insurance is the most effective way to protect against exposures. These policies provide coverage for claims stemming from actual or alleged acts when performing professional services. Working in conjunction with other policies, professional liability insurance is a critical component of a design-builder’s risk management program.

Coverage Benefits:

  • Claims Coverage: Protection for claims related to preparing blueprints, reports, surveys, specifications, and other professional services.
  • Risk Management: Tailored policies designed to meet the unique needs of design-build firms.
  • Financial Protection: Safeguards against severe financial losses from professional liability claims.

Why Insure Your Construction Business?

Insuring your construction business is essential to protect against the unique risks associated with the design-build process. Specialized insurance coverage helps mitigate these risks, providing financial protection and peace of mind. Without adequate coverage, firms could face significant financial losses from professional liability claims.

Who Is This For?

KRGinsure’s construction insurance solutions are ideal for:

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Design-build Firms

Protecting against the increased professional liability associated with handling both design and construction.

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General Contractors

Ensuring coverage for workplace accidents, construction errors, and project delays.

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Subcontractors

Safeguarding against professional and general liability exposures.

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Get Started Today

Navigating the complexities of the design-build process requires specialized coverage. Protect your construction firm with comprehensive insurance solutions from KRGinsure. Contact us today to get a personalized quote and see how we can tailor an insurance policy that meets your needs and budget.
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