CONSTRUCTION INSURANCE IN FLORIDA
If you are currently involved in a building project within Florida, having construction insurance will be a requirement, allowing you to cover expenses such as injury costs and damage liability during various phases of work. Below are some construction policies that Prestige Insurance Group Inc. in Miami, FL recommends signing up for to reduce interruptions during your project.
General Liability Insurance
This policy will be ideal when injuries occur at the workplace or when you encounter property damage. These could arise from faulty workmanship, resulting in significant injuries and property destruction. Alternatively, you could also be sued for defamation. General liability insurance will help you pay the ensuing hospital and repair costs while also helping pay your legal fees during your court proceedings.
Builders' Risk Insurance
Builders' risk insurance keeps buildings and other structures safe during construction when hazards such as fire, hail, and vandalism occur. It ensures that the foundations, outdoor fixtures, building materials, and fencing are safe. It will be helpful for projects such as commercial properties, residential builds, and home remodels.
Worker's Compensation Insurance
Worker's compensation insurance covers employees' injuries arising at the workplace. It will compensate you for setbacks such as funeral costs, x-ray fees, consultation, and prescription fees. It will also help cover missed wages when the injuries are significant and ongoing medical fees. If your company is also sued for these charges, this cover will help pay your legal fees and the settlement fees awarded during the trial.
Errors and Omission Coverage
As the name implies, errors and omission coverage takes care of mistakes arising from professional consultations. If, for instance, your contractor delivers the wrong materials that cause costly repairs, this cover helps you take care of the resulting expenses. Errors and omission coverage generally covers professionals such as accountants, engineers, and design experts.
Call Prestige Insurance Group Inc. in Miami, FL today if you need to keep your materials safe or prefer to safeguard your employees during your construction projects. Our Florida agents will help customize a construction policy for your builds.
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