construction site

Edison, New Jersey is not only home to the botanical and recreational bounty of Rutgers Gardens and Roosevelt Park, but to the Thomas Edison Center at Menlo Park. The latter is both a museum and a tribute to one of the greatest inventors of all time — the site of the first public demonstration of the incandescent light bulb. In addition, Edison is also a center of commerce and construction in which Blue Lion Insurance Advisors, LLC plays a vital role for liability insurance.

In Edison and throughout the state of New Jersey, Blue Lion Insurance Advisors, LLC is dedicated to meeting clients’ insurance needs, both personal and commercial. For construction companies, we make certain that our clients have the Construction Liability insurance required for licensing, as well as any additional coverage necessary to protect them from expensive lawsuits as they engage in their essential work. 

If you own a construction company, you owe it yourself to contact Blue Lion Insurance Advisors, LLC. at (732) 649-1600 or online.  We will consult with you at no charge to ensure that you have the proper policies to keep your company safe and thriving.

As insurance advisors, rather than representatives of a particular insurance company, we are able to provide a broad variety of insurance options. We are well aware of the risks construction firms face and will guide you to obtain the most comprehensive and cost-effective policies to protect you from these risks. The right Construction Liability insurance will give you the shield you need if a legal judgment goes against your company. 

Required Construction Liability Insurance Coverage for Edison Construction Companies

In most cases, Construction Liability policies are required in order to obtain a construction or contractor’s license or permit. Construction Liability Insurance will protect your company from injury and damage claims of property that is not your own and people who are not in your employ. If you are a residential general contractor, developer, or specialty contractor (e.g. electrical, plumbing), it will cover not only medical costs and property repair or replacement but also legal costs. 

Two Types of Construction Liability Insurance

There are two types of liability coverage: bodily injury and property damage. Both are crucial since the nature of construction work always involves an element of risk. Workers may accidentally damage property or cause injuries by mishandling materials, heavy vehicles, or powerful equipment. 

Construction Liability Insurance can be used to pay claims for:

  • Repairing or replacing damaged or destroyed property
  • Loss of use while damaged property is being repaired or replaced
  • Injuries, i.e. medical care, funeral costs, court-awarded non-economic compensation
  • Product damages caused by your company’s installation of equipment 
  • Personal and advertising injury to third parties who incurred a financial or personal loss

Unfortunately, unexpected 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 Necessary Coverage 

Our knowledgeable advisors can also assist you in purchasing other necessary insurance policies for your construction company, including :

Builders Risk Insurance to cover contractor’s materials, equipment, and property related to construction.

Workers’ Compensation to cover jobsite injuries or fatalities of employees for:

  • Medical expenses
  • Lost wages
  • Ongoing recovery costs 
  • Legal fees of a lawsuit claim
  • Funeral costs and death benefits

It should be noted that while Workers’ Compensation insurance covers employee injuries, it does not cover other injured parties. This is why you require Construction Liability insurance as well.

Commercial Auto Insurance to cover all commercial vehicles used during the construction process.

Limits on Construction Liability Insurance

Like all insurance policies, Construction Liability insurance has caps on payable amounts. There are two types of caps: per occurrence and aggregate. The former is a limit on the amount payable for a single incident; the latter is the total amount the insurance company will pay for claims made during a particular time period. When you contact Blue Lion Insurance Advisors, LLC, we will discuss the caps on any policies you are interested in. 

Variables that Affect the Cost of Insurance

Our insurance advisors are keenly aware that cost is always a factor in purchases, including the purchase of insurance products. We have the information and insight to help you make the wisest decision for your company when purchasing Construction Liability Insurance. Several factors may affect the cost of your Construction Insurance policy, including:

  • Credit history of the business/ policyholder/ parties to be insured
  • Experience of business/ policyholder
  • Size of the project or business
  • Location of the project or business/ contractor
  • Coverage limits and deductibles
  • Risk level of the type of construction being done

Generally, the cost of Construction Liability insurance is high because construction is a high-risk enterprise. Nonetheless, the less risky your business statistically, the lower your costs will be. And, of course, the fewer claims you have made in the past, the less the insurer will charge to protect you in the present. With Blue Lion Insurance Advisors, LLC looking out for your best interests, you can feel confident that you will get the best rates possible.

Contact Our Experienced Edison Construction Liability Insurance Experts Today

The last thing you need going forward in the construction industry is a lawsuit that threatens your profit margin. Make certain you have our professionals working for your team. Remember, our loyalty is to you, not to any insurance company. Call us now to make your construction company’s insurance Blue Lion Strong™.