Construction organizations need Colorado business insurance that covers them for the same risks as all businesses, alongside various types of specialized insurance for the building industry. Standard property insurance provides coverage for the office building and contents, while liability insurance covers the business for lawsuits, including legal costs and damages. In addition, workers compensation insurance is essential for employers in case of worker injury or death.

Other types of coverage that a construction company may require include:

-    Builders’ risk insurance - to cover the value of buildings as they are being constructed. Coverage is proportional to the extent to which the building is completed.

-    Installers’ floater – for equipment, machinery and building materials while they are being both transported and installed on the building site.

-    Tools and Equipment floater - to provide coverage for equipment owned by the business.

-    Contractor Equipment floater - for cranes and other movable equipment.

-    Owners and Contractors Protective Liability coverage – this coverage should be held by subcontractors who do work on behalf of the business on a contract basis.

Construction businesses carry quite a bit of risk due to the nature of the work involved, so it is important that these organizations have adequate and comprehensive Colorado business insurance to provide protection for all facets of the business.
 

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