Bergen County boasts some of the most beautiful terrains in the state of New Jersey, including the hills of the Piedmont Province that rise into the Watchung Mountains, and the Palisades, whose sandstone bluffs inspire awe in residents and tourists alike. Not surprisingly, as the most populous county in New Jersey, Bergen County is a hotbed of construction. New homes, businesses, executive offices, professional practices, schools, government buildings and healthcare facilities continue to be built to accommodate the population. If you own one of the construction companies working in Bergen County, you require the protection of Construction Liability Insurance that Blue Lion Insurance Advisors, LLC can provide. Contact us for more information about how we can help you prepare for the future and keep your construction company thriving.
Our Experienced Insurance Advisors Will Keep Your Construction Company Safe
At Blue Lion Insurance Advisors, LLC, we are well aware that construction companies are at high risk of costly lawsuits because of the work they do. We are therefore committed to providing these companies not only with the insurance required for licensing, but with the comprehensive Construction Liability Insurance that will protect them against the personal injury lawsuits that plague the industry.
As an owner of a construction company, it’s important to be proactive about protecting the financial stability of your business by contacting Blue Lion Insurance Advisors, LLC. at (732) 649-1600 or on our website. We will happily consult with you at no charge to make certain that you have the proper Construction Liability Insurance to keep your company safe.
Because we are a firm of insurance advisors, we do not represent any particular insurance company. This enables us to be objective about your particular needs, and always to have your best interests, rather than an insurance company’s bottom line, as our top priority. We will offer you the broadest range of cost-effective policies available to make sure that you don’t settle for coverage that is either too limited in scope or too expensive.
Bergen County Construction Liability Insurance as Required by Law
Construction Liability Insurance policies are required in order to obtain a construction or contractor’s license or permit in Bergen County. Construction Liability Insurance will also protect your company from personal injury and property damage claims unrelated to your workers since the latter will be, first and foremost, covered by workers compensation.
Whether you are a residential general contractor, a developer, or a specialty contractor who focuses on, for example, electrical or plumbing work, your Construction Liability Insurance will cover more than medical costs and property repair or replacement in the event of a lawsuit. It will also cover attorneys’ fees and court costs.
How do the two types of Construction Liability Insurance differ?
The two types of Construction Liability Insurance — bodily injury and property damage — are both necessary for your construction company since construction involves a significant amount of risk to anyone on your premises — such as professional consultants (e.g. architects or engineers), visitors, and passersby.
In the construction industry, you never know when a worker may accidentally damage property or cause injuries by mishandling powerful equipment or heavy vehicles. At such times, Construction Liability Insurance is invaluable since it will pay for:
- Repair or replacement of damaged or destroyed property
- Loss of use during repair or replacement
- Medical care, rehabilitation, funeral costs, non-economic compensatory damages (e.g. for permanent disability or pain and suffering)
- Property damages caused by your company’s excavation or installation of equipment
- Reputational injury to third parties who incurred financial or personal loss due to your worker’s actions
If You Don’t Think You Need Strong Construction Liability Insurance in Bergen County, Think Again
Insurance of all kinds is intended to protect you not from what you think will happen, but from trouble that you do not expect. Unfortunately, claims and lawsuits against construction companies like yours can arise at any time. The sooner you contact Blue Lion Insurance Advisors, LLC, the sooner you can rest easy, knowing your company is protected.
Other Insurance Policies Every Bergen County Construction Company Needs
Our insurance advisors have in-depth knowledge of other insurance policies your construction company needs and may not have. In a free consultation with you, we will go over all the insurance policies you are currently holding to determine whether you are missing anything essential. If so, we can assist you in purchasing other necessary insurance policies for your construction company, including:
Builders Risk Insurance to cover materials, equipment, and property related to construction.
Workers’ Compensation to cover jobsite injuries or fatalities of employees for:
- Medical costs
- Lost income
- Long-term nursing care
- Legal fees for an employee’s lawsuit claim
- Funeral costs and death benefits
Commercial Auto Insurance to cover all commercial vehicles used during the construction process.
It is important to remember that, as noted earlier, Workers’ Compensation Insurance covers employee injuries, but does not cover the injuries of other parties. This is why you require Construction Liability Insurance in addition.
Are there caps on Construction Liability Insurance?
Like all insurance policies, Construction Liability Insurance does not provide unlimited resources. Policies may have one of two types of caps: per occurrence and aggregate.
Per occurrence limits the amount payable for a single claim. Aggregate limits the total amount paid for claims during a certain time period. Contact Blue Lion Insurance Advisors, LLC, to discuss the caps on particular Construction Liability Insurance policies and how they are likely to affect your company.
The Cost of Construction Liability Insurance Varies
Blue Lion Insurance Advisors, LLC knows that price is always a factor when you make a purchase, and that insurance is no exception. We kept current with Construction Liability Insurance policies as they come on the market and know the details of each. This gives us the ability to assist you in making the choice that best fits your needs and your budget.
- You should be aware that the following factors are likely to affect your premiums:
- Your credit history
- Your length of time in the business
- Size, location, and type of project
- Coverage caps and deductibles of the policy
- Your history of insurance claims
Contact Our Bergen County Construction Liability Insurance Experts for a Free Consultation
Our professional insurance advisors are well-trained and experienced. More than that, we are most successful when we provide you with excellent service. Our goal is always the same — to make your company’s insurance policy Blue Lion Strong™. Contact us today to learn more.