What is Construction Insurance?In order to help reduce financial losses and liability risks throughout the construction process, construction insurance is a specialized type of coverage that protects contractors, builders, and property owners from a variety of risks associated with construction projects. These risks typically include general liability insurance for third-party claims, builders risk insurance for damage to buildings and materials during construction, workers' compensation for on-the-job injuries, professional liability insurance for design or planning errors, and equipment insurance for loss or damage to construction tools.
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