Even the most well-planned construction project has some uncertainties. Workers may sustain injuries. Equipment may be damaged. Materials may be stolen. Progress may be stalled. Design errors may be found. All of which come with hefty costs. And while insurance is yet another expense, it will protect you from a devastating financial loss if an uncertainty materializes.
Higginbotham has placed insurance for large and small construction companies and helped control their cost of coverage by providing effective safety and risk management. We know what environmental, occupational and financial uncertainties threaten construction projects through years of serving:
- Commercial general contractors
- Commercial subcontractors
- Industrial contractors
- Utility contractors
- Trade contractors
- Street and road contractors
- Public works contractors
- Materials dealers
Common Construction Coverages
- Surety Bonds
- General Liability
- Workers’ Compensation
- Commercial Auto
- Contractors Pollution
- Professional Liability
- Umbrella Liability
- Owners and Contractors Protective
- Builder’s Risk
- Owner Controlled Insurance Policy (OCIP)/Wrap-up
Safety programs can help control and even lower your insurance costs. Our risk consultants offer jobsite safety training to help reduce the frequency and severity of accidents, thereby reducing claims and improving your loss ratio to minimize hikes in your insurance premiums. We also train in OSHA so when accidents do happen, you have proper recordkeeping procedures that keep you compliant to avoid fines.
Your Experience Modification Rating (EMR) is used to calculate your workers’ compensation premium by comparing your actual losses to your expected losses based on factors like industry and company size. So, controlling your EMR is key to controlling your insurance cost. We will put you in a position of control by reviewing your EMR to ensure accuracy and help improve safety programs to reduce your number of losses.
Many construction agreements contain language that can expose you to additional risk that may or may not be insurable. Higginbotham will examine the liability you assume in contracts and advise on the options you have to avoid, lessen and transfer liability with changes to contractual language or your insurance policies. Our in-house group CertCon Services can also validate your subcontractors’ certificates to help ensure they meet the insurance stipulations in your contracts so you don’t have undue liability.