Top Risks Facing North Carolina Contractors and How to Insure Against Them

Running a construction business comes with a range of responsibilities, including choosing the right insurance coverage. Davis Insurance Group offers contractor insurance solutions for businesses throughout North Carolina.

Identifying Key Industry Risks

Contractors may face a range of risks on the job, including:

• Third-party injuries: Visitors or passersby can be injured on-site, leading to legal and medical claims.
• Property damage: Nearby structures or a client’s property may be accidentally damaged during construction.
• Equipment theft and damage: Valuable tools and machinery can be stolen or damaged by severe weather.
• Workplace injuries: Employees may face a higher risk of accidents due to the physical demands of the job.

Coverage Options to Consider

Depending on the size and scope of your business, you may consider the following coverage types to help manage related risks:

• General liability insurance may help cover third-party claims involving bodily injury, property damage or personal injury related to your business operations.
• Commercial property insurance can help cover tools, equipment, and materials against covered losses such as theft, fire and certain types of property damage.
• Workers’ compensation insurance may provide benefits if an employee is injured or becomes ill as a result of their work.
• Commercial auto insurance can cover vehicles used for business purposes, including trucks, vans and other company-owned vehicles.
• Professional liability insurance (errors and omissions) may apply if a client alleges that your work was incomplete, inaccurate or failed to meet expectations.
• Inland marine insurance can help cover equipment, machinery and materials while in transit or at a temporary job site.
• Builders risk insurance may cover buildings, materials and supplies during construction or renovation projects.

Our Team Can Help

Contact Davis Insurance Group today for a free custom quote.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.