The latest of dozens or even hundreds of construction contracts is lying on your desk. They all contain any number of project requirements that you hope your insurance covers. But does it?
Contracts are usually drawn up by legal experts who focus on what their client wants from the agreement, especially in the areas of performance and cost. These contracts frequently require services and products that are outside the scope of a contractor’s insurance coverage. This can create problems, because a missed deadline, a cost overrun, or a faulty installation could easily lead to a claim against the contractor.
The best way to review an insurance issue is with our team of professionals. We’re not attorneys, but we’ll be happy to work with you and your legal counsel to review the provisions of your construction contracts and their insurance implications. Once we understand the comprehensive insurance requirements, we can tell you which of those requirements your current program already meets, which you can meet by changing your program (and at what cost), and which — if any — available insurance policies can’t meet. At this point, you’ll be in a better position to bid and sign.