Construction Insurance – Des Moines IA

CONSTRUCT A PROTECTION PLAN FOR YOUR BUSINESS

As a contractor, you need liability insurance. Contractors insurance plans often provide some measure of general liability coverage. This means that our plans help reduce the risk that your business will face costly lawsuits that could close its doors.

WHAT DOES CONTRACTORS INSURANCE PROVIDE?

Contractors insurance policies range significantly in terms of what they offer. Most will have a business owner’s policy (BPO) that will provide:

General liability insurance
Workers’ compensation insurance
Commercial vehicle insurance
Busines vehicle insurance 
Other insurance products you need 

WHY DO CONTRACTORS IN DES MOINES IOWA NEED LIABILITY INSURANCE?

Good liability risk management can reduce the chances that your business will be sued, but it can never eliminate the risk entirely. You or a member of your organization can make a mistake that injures someone or damages property. Your mistake could harm the reputation or interfere with the privacy of a customer, client, competitor or member of the general public. When such injuries occur, you may be legally liable to pay damages to someone who suffers a loss due to your actions or inaction.

Depending on the degree of harm and the number of people injured and/or value of property damaged, a lawsuit could bankrupt your business. Even if your organization is ultimately cleared of any wrongdoing, a determined plaintiff can keep you tied up in legal proceedings for a long time, entailing a significant cost to defend yourself. Commercial Liability Insurance pays the cost of your defense and protects your assets.


HOW MUCH DOES CONSTRUCTION INSURANCE COST?

Here’s how it works: if a GL lawsuit costs $1.5 million, but your policy only covers $1 million, Umbrella Insurance can cover the $500,000 remainder. Umbrella Insurance typically costs general contractors $1,010 to $2,020 in annual premiums.

Denmore Insurance Strategies provides construction insurance for businesses in Bondurant, Ankeny, Altoona, Des Moines, West Des Moines, Johnston, and Urbandale. As a contractor – your business needs core insurance coverages to go along with industry-specific coverage.