Real-Time Risk Management™ Solutions
- Equipment Insurance
- Commercial Auto
- Workers Comp
- General Liability
- Builder's Risk
- Surety Bond
Leif answers your frequently asked coverage questions
Why do I need Cyber Liability Insurance?
Any business that relies on technology is exposed to cyber risks like DDoS attacks and extortion. As the construction industry becomes more digitized, it’s important to evaluate and mitigate these risks. Today, contractors collaborate digitally with many stakeholders on a project - and the contractor often holds ultimate responsibility for the technology used. Even in the case of a third-party data breach, your company could be liable.
Why do I need Errors & Omissions Insurance?
Errors & omissions insurance is a valuable policy for contractors. Contractors E&O insurance covers damage to your work or product resulting from your own negligence or errors. In general, it covers damages that are excluded from your commercial general liability policy. For example, if you completed a $40,000 electrical job that later caused a building fire, your CGL policy would cover damage to the building, but exclude the $40,000 electrical work. Your contractors E&O policy would cover the $40,000 cost to redo the work and legal defense if needed.
Why do I need Management Liability Insurance?
You might need management liability insurance if you run construction projects for a project owner. This type of insurance covers damages and legal costs resulting from management decisions that led to project delays and cost overruns. It’s often packaged with your E&O policy.
Why do I need Pollution Insurance?
Construction operations face a variety of pollution exposures during activities like demolition, excavation, burning, and working with hazardous materials. A misstep during these activities can impact public safety and lead to claims, lawsuits, and reputational damage for your company. Pollution insurance protects you from these outcomes.
Why do I need Property Insurance?
Property insurance covers your business’s assets, like your building and its contents. If you have a physical office or location where you store tools and equipment, you need a commercial property insurance policy.
Why do I need Umbrella Insurance?
Many contractors find that they need an umbrella insurance policy to protect and grow their business. Umbrella insurance provides additional coverage in the event of a claim that exceeds the limits of another policy. Some larger projects require contractors to have this type of policy to bid.