Construction Insurance

Builders risk insurance is essential insurance coverage for all parties involved in a construction project. Also referred to as a “course of construction insurance,” builders risk insurance protects current construction projects from violent weather, fire and explosions, vandalism, and theft among other perils. A properly structured builders risk policy should cover all parties with an ownership interest in a building under construction purchase builders risk insurance to protect against the risk of loss. Whether it is a ground-up construction project or a renovation/rehabilitation project, Clark has solutions for your project. We’re here to help.

Commercial General Liability policies protect your business against a variety of threats, including bodily injury, property damage, personal injury, products liability, completed operations liability, advertising injury arising out of your business’ operations.. All Commercial General Liability policies are not created equal, so consulting with your insurance agent with deep experience with construction risk is critical to make sure your Commercial General Liability policy is sufficient. Umbrella liability insurance and Employment Practices Liability insurance (EPLI) may be necessary for businesses that require even more protection. We’re here to help.

Contractors Professional Liability is a specialized coverage developed to address contractors’ liability for design errors or omissions as well as many other types of professional services, including construction management services. Contractors Professional liability insurance helps safeguard you and your construction or general contracting company in the event of a lawsuit or a claim alleging an error or omission arising out of your professional services, helping you pay for defense expenses, settlements, and related costs. Contractors Professional Liability coverage is often packaged with Contractors Pollution Liability coverage to streamline costs and avoid gaps in coverage. We’re here to help.

Contractors Pollution Liability insurance protects construction companies and general contractors from the risk of environmental contamination while working on a job site. Environmental pollution liabilities include potential claims for property damage, the cost of clean-up, and even personal injury, and pollution liability insurance helps to mitigate those risks. We’re here to help.

Surety bonds, guarantee a contractual obligation between two or more parties and are often required by project owners, developers, or lenders as part of a contract for construction and general contracting services. License & Permit Surety bonds are also required by many municipalities and government agencies to obtain various licenses and permits. Clark’s Surety Team works with a variety of top-rated surety companies that offer fair and flexible underwriting terms to meet the needs of your construction company. We’re here to help.

Inland marine policies provide coverage for the transportation of goods, services, and equipment over land (versus by water – hence the “marine reference”) from one location to another or while in storage by a third party. Inland marine insurance coverage is indispensable for general contractors and construction companies to protect equipment and items in transit to construction sites. As such, inland marine is a specialized commercial property coverage that is critical for construction companies. We’re here to help.

Commercial auto insurance provides liability protection and property damage coverage for owned, leased, or hired vehicles used by your business. Typical commercial auto insurance policies provide collision coverage, comprehensive coverage (damage to vehicles from non-collision events), rental reimbursement, liability coverage for personal injuries or damage to other people’s property, uninsured or underinsured motorist coverage, personal injury protection, and medical payments coverage. Contractors and construction companies typically deploy owned and leased vehicles in their operation, so commercial auto insurance is an essential risk management tool. We’re here to help.

Workers Compensation Insurance, is essential for your construction or general contracting business and can be a major cost driver for construction companies. Workers Compensation Insurance is required by statute for most businesses in Maine, NH, and MA – areas served by Clark Insurance. Workers compensation insurance provides protection for your employees and your business for on-the-job injuries or work-related illnesses. Coverage includes medical expenses, lost income or wages, rehabilitation costs, death benefits, and disability. Absent this important coverage, construction companies and contractors are vulnerable to uncovered losses for medical costs and lost wages, not to mention fines and penalties for noncompliance. Importantly, the Clark Insurance Safety & Risk Consulting Team works with clients to help them reduce their risks of workers comp claims and to lower their experience modification rating (EMR) over time. We’re here to help.

Cyber Insurance helps protect from the risk of loss (financial and reputational) due to cyberattacks, phishing scams, malware, viruses, and other disruptions to your IT infrastructure – physical, mobile, or in the cloud. Cyber risks have escalated in recent years, so general contractors and construction companies are well-advised to make sure to purchase cyber insurance to cover privacy notification costs – including voluntary notification expenses; data breach response expenses – including legal, public relations, and credit monitoring expenses; forensic costs; business interruption – including cloud computing providers; theft of funds – including computer fraud, social engineering, phishing scams, and telephone toll fraud; cyber-extortion – including ransomware attacks; technology errors & omissions liability; multimedia liability; as well as network security and privacy liability. We’re here to help.