Construction Insurance in Katy, TX
The construction industry consistently ranks as one of the most dangerous U.S. workplaces. This necessitates robust risk management and loss control efforts, as even the most experienced and diligent firms may eventually need to deal with the aftermath of accidents. Fortunately, by working with a qualified insurance professional, such as those at Katy Insurance Agency, your business can operate with financial security and peace of mind, knowing it has secured ideal coverage.
What Is Construction Insurance? 
The term “construction insurance” does not always refer to a single type of policy available from all carriers. Rather, this term can generally be seen as a specialized form of business insurance, often consisting of several separate policies woven together to form a versatile financial safety net. By securing appropriate coverage, your company can file claims for financial assistance following covered incidents, potentially limiting out-of-pocket costs that could otherwise have dire ramifications.
What Does This Type of Insurance Cover?
The exact capabilities of construction insurance may vary significantly depending on your company’s needs, as well as your risk tolerance, client preferences and budgetary capabilities. In many cases, the following types of insurance are key components of a construction insurance portfolio:
- Professional liability insurance, also known as errors and omissions insurance, is key to managing fiscal fallout should a client accuse you of providing services that were incorrect, late or otherwise insufficient.
- General liability insurance can assist with third-party losses arising from bodily harm, property damage or personal and advertising injuries for which your firm is at fault.
- Commercial property insurance is key to ensuring your business can repair, rebuild and replace tangible assets, including buildings, equipment and tools.
- Workers’ compensation insurance should be a top priority, as it’s typically required by law and can make all the difference following on-the-job injuries and illnesses.
- Business interruption insurance can help relieve financial losses should your company’s operations be delayed or disrupted by a covered incident.
- Commercial auto insurance is often legally required and can offset losses involving your business’s motor vehicles.
- Inland marine insurance can provide critical coverage for materials, equipment and other assets transported from your business’s premises, such as to a client’s location or a jobsite.
- Commercial umbrella insurance can offer secondary coverage should the liability limits of other policies be exhausted.
Where to Get the Right Insurance
Working with a knowledgeable and experienced insurance company is key. At Katy Insurance Agency, our dedicated and independent professionals are prepared to peruse the offerings of top carriers and help you compile an ideal coverage portfolio. Contact us today to learn more.