Recent News

I Own a Construction Company- How Can I Protect My Team If an Accident Should Occur?

All-Risks Insurance Brokers Danforth - Construction Protection

It doesn’t matter how careful and detailed you are, accidents can still happen. What can you do to protect yourself after an accident to avoid financial impact?

If you have general liability insurance, you’re in luck. This type of insurance is key to avoiding lawsuits in the event of third-party injury or third-party property damage. Simply put, if you or your team damage someone else’s property or cause an injury on a jobsite, the cost of compensation is covered by insurance. Construction companies should also review the Products-Completed Operations Liability coverage section within their general liability insurance as it will be what protects you and your team even after leaving a jobsite.

What is Products-Completed Operations Liability?

This type of coverage is important for contractors after completing a service or project. It protects companies from customer lawsuits claiming property damage or bodily injury once the contracted operations end. This can include damages from a faulty pipe or injuries due to a cabinet falling, after being installed by your team.

To be eligible for coverage the claim must be:

  • about completed work or products that caused bodily injury or property damage,
  • related to injury or damage that happened after the service or project had been completed,
  • directly related to the operation your business had provided.

If the claim matches all three of these criteria, your business is able to obtain coverage through Products-Completed Operations Liability. If a product gets damaged, damage was inflicted upon your completed project, or damage is caused because of a defective product or service then it is excluded from this policy and may be part of your team’s responsibility to fix or pay for.

Being protected against accidents is the safest way to ensure your business can financially stand in case of an unfortunate event. Protect your company and your company’s assets by reviewing your insurance policy to guarantee protection against these kinds of claims. If you’re not sure about your company’s current insurance policy or you want more information on how to protect your team against potential accidents and hazards, contact the knowledgeable team at  All-Risks Insurance Brokers Danforth for advice and quotes on the perfect insurance for you.


Leave a Reply

Your email address will not be published. Required fields are marked *