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Mitigating risks by exploring construction insurance options

On Behalf of | May 29, 2023 | Construction Law

Many construction companies may constantly be in search of ways to protect the longevity of their endeavors, as they may have a great deal at stake in virtually every project they work on. Companies in New York that take part in numerous projects each year or operate on projects across international borders may find that carrying sufficient insurance coverage could be vital to achieving such goals. Exploring the available options for insurance coverage could help stave off a variety of risks, but there may still be a chance that companies might encounter disputes over topics such as insurance coverage. 

Construction insurance options 

Construction companies may be aware of the potential risks involved with performing tasks on project sites. Policies such as builder’s risk insurance could help provide coverage for various types of risks and damages. Exploring options such as general and professional liability coverage may also be essential to protecting company interests during every stage of a construction project. 

Workers’ compensation insurance is another type of policy that may be vital to safeguarding company interests in the event of injuries or illnesses among employees. Having adequate auto insurance policies may also be vital when using company vehicles to transport materials and equipment to project sites. There may also be insurance policies available to help cover materials and goods while these items are in transit.  

Insurance coverage disputes 

While carrying adequate insurance can be vital to safeguard against a variety of risks, what happens if construction companies face conflict over insurance coverage? Insurance coverage disputes can be hotly contested matters and companies that encounter similar concerns might consider retaining the services of an attorney for advice on their options. An attorney in New York can evaluate the circumstances a client is facing and assist in preparing to take the necessary steps to protect the company’s legal rights and interests. 


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