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Construction insurance, simplified.
Why do I need a construction insurance policy?
If you work in the world of construction, you’re literally helping to build a newer, better world—one building at a time. Your job is important. Whether you work in commercial or residential, you’re making a difference in your community.
Despite all the good you do, one thing’s for certain: your industry is inherently risky.
Not many jobs have more potential for accidents in their day-to-day operations. Whether it’s a slip and fall on a job site or a piece of machinery damaging a neighbor’s property, all it takes is one liability claim to jeopardize your business.
That’s why you need to protect yourself with construction general liability insurance. Because no matter how careful or professional you are, you need to be prepared for all of life’s surprises.
For instance, any job site is filled with potential hazards. Should the owner get injured touring the site, they could say you’re liable for their injuries. And should you damage a third-party’s property, they could demand you pay for the repairs or replacement.
Fortunately, there are measures you can take to reduce your overall risk exposure. This starts with your general liability insurance, which protects construction workers and contractors from claims of third-party property damage, personal injury, or advertising injury.
Don’t let a liability claim demolish your business. Instead, let Thimble be your hardhat. Keep reading for everything you need to know about Thimble’s Construction Liability Insurance.
How much does construction insurance cost?
The costs for Thimble’s Construction Insurance is determined by four key factors: location, crew size, desired coverage limit, and term duration.
Our Construction Insurance was built to be affordable and flexible for small businesses. On-demand policies go by the hour, day, or month. It’s insurance that works when you do and lets you save when you’re off. Additional Insureds are free, Certificates of Insurance are unlimited and free. And guess what the quote is? Free.
Protect your construction business with insurance coverage.
Get your free Construction Insurance quote from Thimble now.
What is covered under the Construction Insurance policy?
General Liability Insurance via Thimble can help construction contractors cover a variety of risks, including:
You regularly have clients tour the construction site as it’s in progress. Should a client slip and fall while walking through the property, you could be held liable for their medical bills (even if you warned them of the dangers ahead of time).
3rd party property damage
You frequently use heavy machinery. Should you accidentally damage the house next door, the neighbors could claim that you’re responsible for fixing their home.
If, for whatever reason, a third party sues you (whether for injury, property damage, or advertising injury) your general liability insurance could help cover the cost of your defenses, including lawyers, damages, and settlements.
What types of insurance are required for a construction business?
Although it depends on the state, most places in the country (save for Texas) require you to have at least two types of insurance coverage:
- Auto insurance (if you own or lease a work vehicle)
- Workers’ compensation insurance (if you have one or more employees… this varies by state)
In addition, there are a few other forms of insurance you should consider getting, namely general liability insurance. Together, these policies form a safeguard to protect you against the financial consequences of a liability claim.
Commercial auto insurance
Does your construction company own or lease vehicles it uses for work purposes? Depending on how the vehicle is titled, its gross vehicle weight, and its use, it may not be eligible for coverage under your personal auto policy.
A normal commercial auto insurance policy will typically help cover:
- Medical bills of third parties
- Injury to you or your passengers caused by uninsured motorists
- Collision coverage
- Comprehensive coverage
- Damage to property of third parties
Each state has different minimum liability limit requirements. You’ll at least be required to have minimum coverage on bodily injury liability and property damage liability, and in many states, uninsured motorist liability coverage
Workers’ compensation insurance
Do you have more than one employee? Then you’ll be required to protect them with a workers’ compensation policy (unless you’re in Texas). Workers’ comp protects your business and its employees should a workplace illness or injury occur.
While this legal requirement applies to most industries, including construction, workers’ compensation is a no-brainer in the construction industry—one riddled with inherent dangers on a daily basis. It’s the law, but it also makes a ton of business sense.
What does it cover?
It can help pay for the following:
- Medical expenses
- Lost wages
- Rehabilitation and retraining
- Ongoing care costs
- Funeral expenses
Your workers are an important building block in the success of your business. It’s important that you have their back, just like they have yours.
What other types of insurance should I have?
Although it may not be legally mandated, there are several types of insurance coverage that you should strongly consider getting. Together, they can help protect your construction company from all of life’s surprises. Let’s dig into them.
Commercial property insurance
Do you have a main office? How about a place where all of your tools and equipment are stored? Commercial property insurance was purposefully designed to safeguard your business’ building, office equipment, and inventory from a variety of hazards, including:
- Smoke damage
It doesn’t cover all acts of God, such as an earthquake. For that, you may need to add on specific perils coverage to your policy.
Builder’s risk insurance
Are you in the midst of a construction job? If so, you may be considered liable should anything bad happen to the property prior to the job’s end. For instance, a fire or a weather event could wreck all your hard work.
Builder’s risk insurance protects construction businesses in three primary ways:
- It covers loss to a structure in progress
- It covers loss to the construction materials
- It fulfills client insurance requirements for the structure
A builder’s risk policy will usually cover everyday weather events like wind, rain, or snowstorms, but it will not cover major natural disasters like floods or earthquakes.
How quickly can I get a Certificate of Insurance?
In an instant. It takes less than 60 seconds to have your Certificate of Insurance (COI) in your inbox. That’s right, you can get a free quote, purchase a policy, and receive a COI in under a minute.
Even if you have been given a last minute opportunity to place a bid on a job, you can have proof of insurance ready the moment you require it. And thanks to the flexibility of our on-demand insurance, you’re only paying when you actually need the coverage.
To get your policy right now, download the Thimble mobile app. From there, you can alter your policy, add Additional Insureds (for free) and request as many COIs as you want (also for free!)
The company I work for already carries business insurance. Do I need my own construction insurance policy?
Suppose you work on a construction job where the owner of the job has already sponsored insurance. You might think you’re protected right?
Truth is, you don’t know what the owner’s or employer’s construction liability insurance entails. Should an accident happen on the jobsite, you may be covered, you may not be. You can’t risk it—not with a job that has as many inherent perils as yours.
Also, if you work for another company, they may require you to carry your own insurance before even hiring you in the first place. Regardless, you’ll feel safer when you have a policy that’s tailored for you.
What are the Construction Insurance policy limits?
Thimble’s Construction Insurance comes with policy limit options of $1 million or $2 million. Prior to deciding, think about your risks. If your job is inherently hazardous, a higher policy limit is likely worth the price.
Are workplace injuries of my staff covered?
No, bodily injury to employees is not covered under a general liability insurance policy. If you hire workers on a job, you should consider getting a workers’ compensation policy (it might be legally required. This would help cover the costs if they got sick or injured on the job.
Does Construction Insurance cover damage to my equipment?
Yes, Thimble’s Business Equipment Protection Insurance is designed specifically for this purpose. If you’re looking to protect your equipment, this policy comes automatically bundled with our Thimble Monthly Construction Insurance.
How do I get Construction Insurance with Thimble?
Simply download the Thimble mobile app or click “get a quote.” Input a few details about your construction business, and receive your free quote. Hit purchase, and you’ll have a policy and any necessary COIs sent to your inbox instantly.
In less than 60 seconds, you can go from having no coverage to being protected.
Get your Construction Insurance quote now!
Consultants & Freelancers insurance protects your business from lawsuits, if you or your property accidentally hurts a third party or damages their property.
- AV Installation
- Business Consultants
- Car AV Installation
- Classroom Instruction
- Computer Programming
- Computer Repair
- Creative Directors
- Graphic Designers
- House Sitting
- Interior Decorating
- IT Consultants
- Marketing Consultants
- Personal Shoppers
- Photography & Videography
- Sound Recordists
- Web Developers
- Sign Installation
- Adult Film Operations
- Alarm System Monitoring
- Any acts or services performed by an unlicensed or uncertified insured if such licensing or certification is required by law
- Babysitters and Nannies
- Elderly Care
- Financial Consultants
- Financial Planners
- Home Health Care
- Importing, manufacturing, growing, distributing, storing, selling, using, or ingesting marijuana or any product of the plant Cannabis Sativa L. (whether or not it is the main ingredient or used in combination with other ingredients)
- Investment Advisors
- Mortgage Bankers or Investment Bankers
- Registered Representatives or Brokers/Dealers of Securities or Commodities
- Rideshare Drivers
- Roadside Assistance
- Security Guards
- Traffic Control
- Training or Instruction Demonstrated on Real Patients
What's Not Covered by Your Policy
- Activities Involving Firearms
- Performing Work over Three Stories in Height (30 feet)
- Work on 10 or More New Homes or New Residential Units in Any One Project or Development
- See full policy for details