Finding appropriate insurance in the construction industry can often prove to be challenging. There are many risks inherent in this line of work and business owners must consider a variety of factors in order to stay fully protected. With liability coverage, for example, there are a few angles that tend to get overlooked. Consider these points to ensure you are going above and beyond with your policy.
Avoid Costly Errors
One important point to focus on when taking out professional liability insurance for construction managers is errors and omissions coverage. Though an accident on a construction site can be costly, making an error with a contract or internal memo can produce even more problems for your business. E&O insurance allows you the comfort of knowing you are protected in the event of an omission or other commonplace mistake. Additional points to consider when it comes to your coverage can include:
- Policy limits and premiums
- Protections based around each project
- BI/PD coverage options
Find the Best Fit
While there are many threats facing businesses in the construction industry, there are also a number of practical ways to stay protected. Give yourself time to learn more about errors and omissions coverage and see how a few simple changes to your liability policy can help your company survive whatever surprises await you down the line.