Construction Insurance in Des Moines IA & West Des Moines IA

Commercial accidents are common, and they can be costly without the right insurance coverage in place. When you work in construction, you are expected to complete fail-safe, secure and comfortable projects, whether you build skyscrapers or starter homes.

Your clients rely on you to properly do your job with an expert eye for detail and not leave them at risk of facing significant problems with the finished product. You must take responsibility for your operations and liabilities; this means investing in quality insurance benefits.

Here at Bishop White Insurance & Financial Services, Inc., we believe in taking a comprehensive approach to every construction business’s insurance needs. If you’re located in Des Moines and the surrounding area, then we’re the place to turn for optimized coverage.

Basic Construction Coverage

Your company should have extensive, customized benefits to address both your property loss risks and operational liabilities appropriately. An adequately tailored construction insurance portfolio will offer numerous coverage options for both your general and industry-specific risks.

Your insurance agent will help you build a package of comprehensive but personalized benefits that will always be there to help you face some of the biggest challenges that you could face in your line of work.

Your standard construction insurance should include essential benefits like:

Property Insurance: If something damages physical property—such as your building or possessions—then this coverage can help you repair or replace them.
General Liability Insurance: This covers the business if it causes property damage or bodily injuries to another party, like a client or vendor.
Business Interruption Insurance: This helps you pay the bills if you must temporarily close after a damaging accident.
Commercial Auto Insurance: When the company owns vehicles, this coverage will provide the requisite physical damage, liability and other benefits to help the company afford the costs of wrecks or other vehicle hazards.
Workers’ Compensation Insurance: If an employee gets hurt on the job, they are often eligible for workers’ compensation coverage. It will provide them supplementary income during their recovery.
Errors and Omissions Insurance: Professional advice or mistakes could cause clients a financial loss. This coverage can compensate them on behalf of the business.
Surety Bonds: If you are contractually obligated to specific clients, bonds will guarantee that you will repay them if you cannot meet your obligations.
Builders Risk Coverage: This benefit will cover properties under construction, along with the requisite materials and equipment that will be used in the course of construction. If you need any benefit as part of your construction insurance portfolio, it’s this one.

How Much Does Construction Insurance Cost?

The type of construction your business specializes in will significantly impact the types of risks you will face in your operations. A general contractor will not encounter the same hazards that an electrician or a roofer would, for instance. However, none of these contractors need lesser benefits than the others; they just have to get the right policy combinations for their needs.

As your operational risk factors will vary, so too will your policy premiums. Just a few of the factors that are considered when determining your construction insurance policy price include:

Your coverage needs
Number of employees
Types of work vehicles
Your claims history
Coverage requirements set by your local authorities

Different insurance carriers will rate these factors in numerous ways. It is important to compare prices across plans and to speak with an insurance agent about the intricacies of your business in more detail.

Find the Policy That Fits Your Company

When matching clients with insurance, we review their current policies and offer our recommendations based on experience, dedication and expertise. To start building a construction insurance foundation that’s perfect for you, request a quote or contact us to learn more.