Commercial Insurance Lines: Builders Risk Insurance

Contractors Liability and Construction Practice Insurance: A Reality of Doing Business

Contracting and construction insurance is a special area of expertise at O’Kane and Tegay.

We work with all types of general contractors and subcontractors. We’re experts at finding flexible pricing and discounts for our clients, offering special contractor insurance products drawn from a wide range of markets.

We offer products to suit a range of contractor and renovation businesses, including developers, framers, painters, plumbers, roofers, electricians, drywallers, mechanics, landscapers, and many others.

Coverage specialties include:

  • Package/liability
  • Products/completed operations
  • Inland marine
  • Design errors & omissions
  • Pollution
  • Property/cargo
  • Workers’ compensation
  • Fiduciary liability
  • Auto liability
  • Credit issues
  • Crime
  • Terrorism
  • Employment practices liability
  • Directors and officers liability

Business Owner’s Insurance: A Basic Necessity

If you’re an independent contractor, you know how important it is to have business liability insurance.

Not only because it’s a requirement for protecting the property owner or a general contractor on a job. It also makes business sense. Some clients will require you to carry a certain amount of general liability insurance before signing a contract with you.

Just as important: the right insurance coverage works to protect you in the event that an accident is caused by you or one of your workers. The resulting lawsuit could fold up your business for good.

It also works to protect you against the many risks that any small business faces.

With the right small business liability protection, you’ll rest easier nights, knowing that your long-term investment is safeguarded against disastrous lawsuits and other losses.

There are three main types of coverage in a small business owner’s (BOP) policy:

1. General Business Liability Insurance

This general liability coverage protects you in the event that you or your employee causes someone else to suffer personal injury, bodily injury, or property damage on a job site, up to your chosen limits.

This covers you if, for example, one of your employees accidentally damages the wiring in a building and creates a power outage.

General liability is often combined with property insurance in a business owner’s policy (BOP).

2. Buildings and Business Personal Property Coverage

This coverage will cover the cost replacing buildings and most of your personal property as business owner, up to the limits you’ve chosen.

Business property coverage is optional for most contractors.

3. Loss of Income and Extra Expense

With this coverage, you’re covered for loss of business income if your insured property is damaged.

We’ll insure your net income and cover the cost of ongoing normal operations, including payroll, for up to 12 months.

Other areas covered include:

  • Valuable papers and records coverage
  • Personal property of others coverage

Contractor Business Owner’s Insurance

Contractor BOPs include the basic coverages of blanket additional insured coverage, and contractor’s liability.

General Liability Insurance, Without a BOP

We can find out if you qualify for general liability insurance, without having to pay for the extra protections provided by a BOP. If you qualify, we can also add blanket additional insured coverage.

This type of coverage is required by some contracts. It extends your liability coverage to protect the interests of the property owner during a construction job.

Other products include:

  • Surety bond insurance – performance, supply, payment and license
  • Commercial truck and auto coverage
  • Tool and equipment coverage
  • Builders’ risk coverage
  • Workers’ compensation
  • Umbrella coverage

Wrap-ups: OCIP and CCIP Insurance for Contractors

You have enough on your mind, competing in a tough industry, without having to worry about how to get the right kind and right amounts of wrap-up insurance—and the best deal possible.

Let us help. We’ll look at your business information and help you determine what you need for your wrap-up program, whether owner-controlled (OCIP) or contractor-controlled (CCIP).

We’re experienced at providing our contractor clients with the coverage they need to meet their business’s needs, as well as industry requirements.

We have access to the most competitively priced insurance markets. We’ll create the most inclusive and competitive insurance program possible for you, that suits your business needs and budget.

We also have the financial knowledge and marketplace savvy to land the surety bonds you need to fully compete in your trade.

We know how each part of your insurance information will affect your coverage. We’ll seek out the products that best fit your situation, covering any potential gaps in your coverage.

Learn more about your Contractors Liability and Construction Practice Insurance options.

Call now to speak with one of the friendly agents in our San Francisco office, at 415-242-8777.

We’ll review your current coverage for free, discuss your current risks and search for the best insurance products to fit your business.


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