Staten Island, NY 718-370-3131 Hauppauge, NY 631-352-5700

718-370-3131

631-352-5700

Why You Need Construction Insurance

Any business needs insurance, but many industries benefit from insurance products that are specifically geared towards their needs. The list of companies that would benefit from construction insurance includes:

  • General contractors
  • Security system installation companies
  • Carpenters
  • Handyman businesses
  • Plumbers
  • Masonry contractors
  • Developers
  • Renovation companies

The contracting industry is a very competitive world and your company needs the right kind of insurance to protect against those unforeseen obstacles. When you have the right type of construction insurance in place, your company can do business without the fear of significant financial loss due to a natural disaster or accident.

General Liability Protection

One of the most significant parts of any construction insurance program is good general liability coverage. General liability insurance protects your contracting business from:

  • Damages due to accidents on the job
  • Financial losses due to lawsuits
  • Costs incurred due to theft or vandalism

When it comes to getting general liability insurance, you should get the highest level of coverage you can afford. There is an old insurance saying that a company can never have too much liability coverage, and there are plenty of companies out there that are glad they listened to that old advice.

Business Insurance

Business insurance is added to liability insurance to offer more comprehensive coverage in case of financial losses due to business issues. One of the most significant functions of business insurance is to cover income losses in the event of a financial disaster or other unforeseen circumstances. This can be helpful coverage to have if you find yourself facing significant losses on a job and have nowhere to turn to make up that lost income.

Worker’s Compensation Insurance

Carrying worker’s compensation insurance is not only smart, but it is the law in most states. A good insurance company can work with you to develop a program that not only cover’s your workers, but also covers you and your management staff as well. This type of insurance covers financial losses due to injuries sustained on the job, and it also relieves a significant amount of burden by paying medical bills as well.

Specialized Vehicle Insurance

If your company owns its own cement truck, then you need specialized insurance to cover that truck. Other types of vehicles that require specialized insurance include:

  • Bucket trucks
  • Dump trucks
  • Large pickup trucks
  • Pump trucks
  • Flatbed trailers
  • Flatbed trucks

Too many construction companies encounter issues with their specialized vehicles and find out that they do not have the necessary insurance to cover their losses. With a comprehensive construction insurance plan, you will have the insurance you need to get your business back on the road.

Construction companies have insurance needs that standard business policies do not always cover. During the course of a job, a construction company opens itself up to potential financial losses in a variety of ways and one bad incident could mean the financial collapse of the company.

It is dangerous for a construction company to assume that it has the insurance it needs to do business without fear of financial problems. It is important for each construction company to spend time talking to a construction insurance expert and get the right insurance in place before the next job starts.


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Staten Island Location

201 Edward Curry Ave,
Staten Island, New York 10314
Tel:  718-370-3131
Fax: 718-370-3110

Email: info@tceins.com


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Long Island Location

490 Wheeler Road, Ste 251,
Hauppauge, New York 11788
Tel: 631-336-2572
Fax: 631-761-6486
Email: info@tceins.com