Construction Insurance
Specializing in construction trade, such as building construction, heavy construction and specialty trade construction.
General Liability

Construction General Liability is a type of insurance coverage designed to protect construction businesses and contractors from various liabilities and risks that can arise during the course of construction projects. It provides financial protection in case of third-party claims for bodily injury, property damage, or other related losses that might occur on the construction site or as a result of the construction work.

Key features of Construction General Liability insurance include:

Bodily Injury Coverage: This covers medical expenses, legal fees, and other costs associated with injuries sustained by third parties (such as workers, visitors, or bystanders) due to construction-related accidents or incidents.

Property Damage Coverage: This covers damage to third-party properties caused by the construction work, such as damage to neighboring structures, roads, utilities, or other property.

Personal and Advertising Injury Coverage: This protects against claims related to defamation, libel, slander, false advertising, and other personal or advertising injuries.

Completed Operations Coverage: This provides extended protection against liabilities stemming from finished work that has been delivered to the client but could potentially result in problems or damage at a later time.

Medical Payments Coverage: This provides coverage for minor medical expenses incurred by third parties who sustain injuries on the construction site, regardless of fault.

Legal Defense Costs: The insurance policy also covers legal fees and defense costs, even if the claims are found to be groundless.

Construction projects can be complex and involve various risks, such as accidents, property damage, equipment malfunction, and more. General Liability insurance helps construction businesses mitigate the financial impact of these risks and protect their assets, reputation, and operations.

It’s important for construction businesses and contractors to carefully review their insurance policies to ensure they have the appropriate coverage for their specific projects and risks. Additionally, they might consider additional insurance policies such as Workers’ Compensation, Builder’s Risk insurance, and Professional Liability insurance to provide comprehensive coverage for their operations.

For all General Liability Insurance questions and to get a free review with quotes call directly to our Construction Department at 718.241.8500 ext 111. Admiral team is always here to help you.

Umbrella/Excess Liability

Construction Umbrella / Excess Liability is a type of insurance coverage that provides an additional layer of protection beyond the limits of a primary insurance policy, such as a Construction General Liability (CGL) policy. It is designed to offer higher limits of coverage for liability claims that exceed the limits of the underlying primary policies. In essence, it “sits on top” of your primary insurance coverage like an umbrella, providing extended coverage in case of catastrophic events or large claims.

Here’s how Construction Umbrella Excess Liability insurance works:

Coverage Limits: The coverage limits of primary insurance policies, like a CGL policy, might be sufficient for many claims. However, in the event of a significant claim or multiple claims, the limits might be exhausted quickly. Construction Umbrella insurance offers additional coverage that becomes effective once the limits of the primary policy are reached.

Broadened Coverage: Umbrella policies can often provide coverage for risks not covered by the primary policy, giving a more comprehensive and all-encompassing layer of protection. This can include situations where the primary policy’s coverage might not be adequate.

Protection Against Catastrophic Losses: Construction projects can sometimes face large and unexpected losses due to accidents, injuries, or property damage. Umbrella insurance helps ensure that your business is financially protected even in cases of exceptionally high claims.

Legal Defense Costs: Just like the primary policy, Construction Umbrella Excess Liability insurance usually covers legal defense costs, which can be significant even if the claim doesn’t result in a payout.

Aggregate Limit: Umbrella policies often have an aggregate limit, which means they will cover multiple claims over the policy period as long as the total payouts do not exceed the aggregate limit.

Construction Umbrella Excess Liability insurance is particularly important for construction businesses dealing with high-risk projects, where the potential for larger liability claims is elevated. It helps provide peace of mind and financial protection, allowing businesses to focus on their projects without constantly worrying about potential devastating liabilities.

For all Umbrella/Excess Liability Insurance questions and to get a free review with quotes call directly to our Construction Department at 718.241.8500 ext 111. Admiral team is always here to help you.

Commercial Automobile

Commercial Auto insurance is a type of insurance coverage designed to protect businesses and their vehicles used for business purposes. This insurance provides coverage for vehicles that are owned, leased, or operated by a business or its employees while conducting business-related activities. It is similar to personal auto insurance but is tailored to the unique risks and needs associated with commercial vehicle use.

Key features of Commercial Automobile insurance include:

Liability Coverage: This covers bodily injury and property damage liability that the business might be legally responsible for due to an accident involving one of its covered vehicles. It helps pay for medical expenses, legal fees, and property damage to third parties.

Collision Coverage: This covers damage to the insured vehicle caused by a collision with another vehicle or object, regardless of fault. It helps pay for repairs or replacement of the vehicle.

Comprehensive Coverage: This covers damage to the insured vehicle caused by events other than collisions, such as theft, vandalism, natural disasters, and more.

Uninsured/Underinsured Motorist Coverage: This covers injuries and damages if the insured vehicle is involved in an accident with an at-fault driver who doesn’t have sufficient insurance coverage.

Medical Payments Coverage: This covers medical expenses for injuries sustained by the driver and passengers of the insured vehicle, regardless of who is at fault in an accident.

Hired and Non-Owned Auto Coverage: This extends coverage to vehicles that the business rents or hires, as well as vehicles owned by employees but used for business purposes.

Cargo and Equipment Coverage: For businesses involved in transporting goods or using specialized equipment, this coverage can protect against damage to cargo or equipment being transported.

Rental Reimbursement: This provides coverage for the cost of renting a replacement vehicle if the insured vehicle is being repaired after an accident.

Commercial Automobile insurance is essential for businesses that rely on vehicles to conduct their operations, such as delivery services, contractors, trucking companies, and more. The insurance helps protect the business from financial losses resulting from accidents, injuries, and damages involving their commercial vehicles. The coverage limits and premiums can vary based on factors such as the type of vehicles, the business’s operations, the number of drivers, and the coverage options selected.

It’s important for businesses to accurately disclose their vehicle usage and the nature of their operations to ensure they have appropriate coverage that adequately protects their assets and liabilities.

For all Commercial Auto Insurance questions and to get a free review with quotes call directly to our Construction Department at 718.241.8500 ext 111. Admiral team is always here to help you.

Workers Compensation

Construction Workers’ Compensation is a type of insurance coverage designed to provide financial benefits and medical care to employees who suffer work-related injuries or illnesses while working on construction sites or in construction-related activities. It is a crucial component of worker protection and employer liability management in the construction industry.

Key features of Construction Workers’ Compensation insurance include:

Medical Expenses: This coverage pays for medical treatment, hospitalization, rehabilitation, and other medical expenses that are necessary to treat work-related injuries or illnesses. This ensures that injured workers receive prompt and appropriate medical care.

Income Replacement: Workers’ Compensation insurance provides wage replacement benefits to employees who are unable to work due to a work-related injury or illness. This helps to partially replace the lost wages during the recovery period.

Disability Benefits: If a worker’s injury or illness leads to temporary or permanent disability, the insurance may provide disability benefits based on the severity and duration of the disability.

Death Benefits: In the unfortunate event that a worker dies due to a work-related injury or illness, Workers’ Compensation insurance provides death benefits to the worker’s dependents to help cover funeral expenses and provide ongoing financial support.

Legal Protection: Workers’ Compensation insurance generally includes liability protection for employers against lawsuits filed by injured workers for negligence or damages. In most cases, workers who are covered by Workers’ Compensation insurance cannot sue their employers for injuries sustained on the job.

Compliance with Regulations: In many jurisdictions, employers in the construction industry are legally required to carry Workers’ Compensation insurance to provide protection for their employees and comply with labor laws.

Construction is a high-risk industry with potential for accidents, injuries, and illnesses due to the nature of the work and the various hazards present on construction sites. Workers’ Compensation insurance helps ensure that workers receive the necessary medical care and financial support they need if they are injured while working.

When selecting a Workers’ Compensation insurance policy, it’s essential for construction businesses to accurately report their employee headcount, job roles, and work activities to ensure proper coverage. Failing to carry Workers’ Compensation insurance when required by law can lead to legal penalties for the employer.

For all Workers Compensation Insurance questions and to get a free review with quotes call directly to our Construction Department at 718.241.8500 ext 111. Admiral team is always here to help you.

Disability

Construction Disability Income Insurance or Construction Disability Benefits Insurance is a type of insurance coverage designed to provide financial support to construction workers or professionals who are unable to work due to a disability caused by injury or illness. This insurance helps replace a portion of the worker’s lost income during the period of disability, allowing them to meet their financial obligations while they are unable to work.

Key features of Construction Disability Insurance include:

Income Replacement: This coverage provides a percentage of the disabled worker’s regular income while they are unable to work. The percentage typically ranges from 50% to 70% of the individual’s pre-disability income.

Temporary and Permanent Disability: Construction Disability Insurance can cover both temporary disabilities, where the worker is unable to work for a limited period, as well as permanent disabilities that prevent the worker from returning to their previous occupation.

Short-Term and Long-Term Coverage: Policies may offer either short-term disability coverage, which provides benefits for a limited duration (e.g., 3 to 6 months), or long-term disability coverage, which extends benefits for a more extended period (often until retirement age or until the disability improves).

Definition of Disability: Policies may use different definitions of disability to determine eligibility for benefits. Some policies use an “own occupation” definition, which considers the worker disabled if they are unable to perform their specific job role. Others may use an “any occupation” definition, which considers the worker disabled if they cannot perform any job for which they are qualified based on education, training, and experience.

Elimination Period: This is the waiting period between the onset of disability and the start of benefit payments. Shorter elimination periods generally lead to higher premium costs.

Premiums and Coverage Limits: The cost of premiums and the amount of coverage vary based on factors such as the worker’s age, health, occupation, income level, and the specific terms of the policy.

Construction workers face higher risks of injury due to the physically demanding nature of their work and the hazardous environments in which they operate. Construction Disability Insurance helps protect these workers from the financial strain that can arise when they are unable to earn their regular income due to a disabling injury or illness.

It’s important to carefully review policy terms and conditions before purchasing Construction Disability Insurance to ensure that the coverage aligns with your specific needs and circumstances. Additionally, some employers may offer group disability insurance as part of their employee benefits package, which can provide coverage for a group of workers at a potentially lower cost than individual policies.

For all Disability Insurance questions and to get a free review with quotes call directly to our Construction Department at 718.241.8500 ext 111. Admiral team is always here to help you.

Surety bonds

A Construction Surety Bond is a type of insurance-like instrument that guarantees the performance of a construction project or the fulfillment of contractual obligations. It involves three parties: the principal (contractor or business), the obligee (project owner or government agency), and the surety (insurance company or bonding company).

Here’s how Construction Surety Bond insurance works:

Principal: The principal is the contractor or business that is required to carry the surety bond as a condition of being awarded a construction project or contract. The principal purchases the bond and agrees to comply with the terms of the contract and complete the project according to specifications.

Obligee: The obligee is the party that requires the principal to obtain the surety bond. This is usually the project owner or a government agency overseeing the project. The obligee benefits from the bond as it provides a guarantee that the project will be completed as agreed.

Surety: The surety is the insurance company or bonding company that issues the bond to the principal. The surety provides a financial guarantee to the obligee that if the principal fails to fulfill its contractual obligations, the surety will step in to compensate the obligee up to the bond’s specified amount.

There are several types of Construction Surety Bonds:

Bid Bond: This is submitted with a contractor’s bid to provide assurance that if the contractor is awarded the project, they will enter into a contract and provide the required performance and payment bonds.

Performance Bond: This guarantees that the contractor will complete the project according to the contract specifications. If the contractor fails to do so, the surety steps in to cover the costs of completing the project.

Payment Bond: This ensures that the contractor will pay all subcontractors, laborers, and suppliers involved in the project. It provides a safety net for those providing labor and materials.

Maintenance Bond: After the project is completed, this bond guarantees that the contractor will address any defects or issues that arise during a specified maintenance period.

Construction Surety Bonds play a significant role in the construction industry by providing financial protection to project owners and government agencies. They ensure that projects are completed as agreed and that subcontractors and suppliers are compensated for their work.

It’s important to note that while Construction Surety Bonds provide a form of financial protection, they are not insurance in the traditional sense. Instead of covering losses sustained by the insured party (the principal), they guarantee the fulfillment of contractual obligations to the obligee. The surety may seek reimbursement from the principal if it has to fulfill any obligations under the bond.

For all Bonds Insurance questions and to get a free review with quotes call directly to our Construction Department at 718.241.8500 ext 111. Admiral team is always here to help you. 

Inland Marine

Construction Inland Marine insurance is a specialized type of insurance coverage designed to protect property, equipment, and materials that are in transit or located away from the construction site. Despite its name, Inland Marine insurance doesn’t actually cover marine-related risks but instead focuses on covering property and assets that are frequently moved or transported across various locations, including construction sites.

Key features of Construction Inland Marine insurance include:

Coverage for Mobile Property: This insurance covers property and equipment that is not permanently located at a single site. It includes items such as tools, machinery, construction equipment, and materials that are regularly moved from one job site to another.

Transit Coverage: Inland Marine insurance provides coverage for property while it is being transported from one location to another. This can include coverage for damage or loss due to accidents, theft, vandalism, or other unexpected events during transit.

Coverage at Multiple Locations: It provides coverage for property at various locations, including temporary storage areas, job sites, and off-site locations.

Builder’s Risk Coverage: Some Inland Marine policies offer coverage for construction projects while they are in progress. This can include coverage for materials, supplies, and equipment used during construction.

Rigging and Installation Coverage: This covers property while it is being rigged, lifted, or installed. It’s particularly relevant for heavy machinery or equipment being moved or installed at construction sites.

Contractor’s Equipment Coverage: This covers equipment and tools owned or rented by contractors that are used in their construction projects.

Construction projects involve the movement of valuable equipment, machinery, and materials, often between different sites and locations. Inland Marine insurance helps construction businesses mitigate the risks associated with these movements and provide financial protection against potential losses or damages. The coverage is flexible and can be tailored to the specific needs of a construction company.

It’s important for construction businesses to assess their unique operations and equipment needs to determine whether Inland Marine insurance is necessary and to select coverage that adequately addresses their risks. In many cases, Inland Marine insurance can be added as an endorsement to an existing commercial insurance policy to ensure comprehensive coverage for property in transit or at various locations.

For all Inland Marine Insurance questions and to get a free review with quotes call directly to our Construction Department at 718.241.8500 ext 111. Admiral team is always here to help you.

Builders Risk

Construction Builder’s Risk insurance is designed to protect buildings and structures that are under construction, renovation, or repair. This insurance provides coverage for property damage and financial losses that may occur during the course of a construction project. It’s typically purchased by the project owner, contractor, or developer involved in the construction process.

Key features of Construction Builder’s Risk insurance include:

Property Damage Coverage: This insurance covers the value of the building or structure under construction, as well as materials, equipment, and machinery on the construction site. It protects against a wide range of perils, such as fire, theft, vandalism, wind damage, and more.

All Risk Coverage: Builder’s Risk insurance provides coverage for a broad spectrum of risks and perils, except for those specifically excluded in the policy. The coverage is designed to protect against accidental and unexpected events that can cause property damage or loss.

Temporary Structures: Many policies cover temporary structures on the construction site, such as scaffolding, temporary storage facilities, and trailers.

Third-Party Liability: Some Builder’s Risk policies include coverage for liability claims arising from property damage or injuries to third parties caused by construction activities.

Project-Specific Coverage: The coverage is tailored to the specific construction project, including its location, value, and duration. Coverage typically starts when construction begins and ends when the project is completed or the property is handed over to the owner

Soft Costs: Certain policies might provide coverage for “soft costs,” which are additional expenses incurred due to construction delays or losses, such as extended interest on loans, extended rental costs, and other related expenses.

Extensions and Endorsements: Depending on the policy, additional coverage options or endorsements can be added to address specific project needs or circumstances.

Builder’s Risk insurance is crucial because construction projects are exposed to a variety of risks and perils that could lead to substantial financial losses. During construction, the property might not be covered by traditional property insurance since it’s not yet classified as an occupied structure. Builder’s Risk insurance bridges this gap, offering specialized protection for the property during the construction phase.

Both project owners and contractors have an interest in obtaining Builder’s Risk insurance. Project owners want to protect their investment from potential damage or loss, while contractors can reduce their liability for damage to the property and materials they’re using.

When purchasing Builder’s Risk insurance, it’s essential to accurately assess the project’s value, the risks involved, and any specific coverage requirements. Consulting with an insurance professional with expertise in the construction industry can help ensure that the policy provides appropriate coverage for the project’s unique circumstances.

For all Builders Risk Insurance questions and to get a free review with quotes call directly to our Construction Department at 718.241.8500 ext 111. Admiral team is always here to help you.

Pollution Liability

Construction Pollution Liability insurance, also known as Environmental Liability a specialized type of insurance coverage designed to protect construction businesses from liabilities and financial losses arising from pollution-related incidents during construction projects. This insurance is particularly important for construction projects that involve potentially hazardous materials, activities, or sites that could result in environmental damage or contamination.

Key features of Construction Pollution Liability insurance include:

Coverage for Pollution-related Risks: This insurance covers the costs associated with pollution incidents that occur during construction activities, such as the release of hazardous materials, chemicals, or pollutants into the environment.

Third-Party Liability: Construction Pollution Liability insurance provides coverage for third-party claims, including bodily injury, property damage, and environmental cleanup costs resulting from pollution-related incidents caused by the construction activities.

Clean-up and Remediation Costs: The insurance can cover the expenses associated with cleaning up pollution and environmental contamination caused by the construction project, including costs for soil remediation, groundwater cleanup, and other necessary measures to mitigate environmental damage.

Legal Defense Costs: The insurance policy typically covers legal fees and defense costs associated with pollution-related lawsuits or claims.

Gradual and Sudden Pollution Events: Policies may cover both sudden pollution events (e.g., a chemical spill) and gradual pollution events (e.g., soil contamination over time).

Project-specific Coverage: Construction Pollution Liability insurance can be tailored to the specific needs and risks of each construction project, accounting for the type of work being done, the materials used, and the potential environmental impact.

Construction projects often involve the use of materials and activities that can potentially lead to pollution incidents, such as soil excavation, waste disposal, chemical handling, and more. Accidental pollution events can result in significant financial liabilities for the construction business, not only in terms of cleanup costs but also in legal claims and potential regulatory penalties.

Having Construction Pollution Liability insurance helps construction businesses manage these risks and protect their assets, reputation, and operations. It’s important to carefully assess the environmental risks associated with each project and determine whether Pollution Liability insurance is necessary. Coverage limits, premiums, and policy terms can vary based on factors such as the project’s scope, location, and the specific risks involved.

For all Pollution Liability Insurance questions and to get a free review with quotes call directly to our Construction Department at 718.241.8500 ext 111. Admiral team is always here to help you.