Business Owner's Policy
for Contractors, Builders & Other Construction Professionals

If your contracting and construction business is looking for broad, reliable coverage as part of your business protection plan, a Business Owner's Policy may be the policy for you. A Business Owner's Policy bundles Property Insurance and General Liability Insurance under one plan, and if your contracting and construction business is considered low-risk, you may be eligible for this specialized policy.

Though most contractors & construction professionals typically do not work out of a storefront (which is usually what Property Insurance would protect), a Business Owner's Policy may provide coverage for the most vital components of your business: your equipment and tools. Your contracting and construction BOP may also offer business interruption coverage — a safeguard against natural disasters, unexpected events, or covered property loss. In the case of such events, your BOP would provide income and help cover the expenses you incur while unable to operate.

Learn more about Business Owner's Policies below, and be sure to contact one of our contracting and construction insurance experts to see if your business is eligible for this reliable coverage.

Business Owner's Policy: Construction & Contracting Professionals' Coverage

Business Owner's Policy: Construction & Contracting Professionals' Coverage

Combining General Liability Insurance and Property Insurance, a BOP will cover your contracting and construction business in the event of property damage, interrupted operations, or lawsuits resulting from bodily injury or property damage to others.

The benefit of a Business Owner's Policy is that if your business qualifies for this bundled coverage, you can tailor your policy to add on endorsements for your specific needs and remove other coverages that don't pertain to your business.

A Business Owner's Policy keeps contracting and construction business owners protected should a third party file a lawsuit against your business due to injury or bodily harm. With your BOP in place, your General Liability coverage would ensure your business doesn't pay out of pocket for these expensive court costs (depending on your policy limits). That's good news for contractors and ;construction professionals — even if your business is not found liable, such legal expenses could be enough to bankrupt a small business owner. While defending your company in court, your business could be responsible for paying attorney fees, court costs, fines, and more if you don't have the necessary coverage to safeguard your finances.

As a contractor or construction professional, you may enter a contract that places your clients' property in your care. Your BOP coverage will cover the funds to replace the property if it is damaged while in your custody.

A Business Owner's Policy for your contracting and construction business is one more way to protect the business you've built and ensure your clients' trust in your company.

Contractors & Construction Professionals: Business Owner's Policy Types

Contractors & Construction Professionals: Business Owner's Policy Types

A Business Owner's Policy for contractors and construction professionals protects your company from financial strain due to lawsuits, equipment loss or damage, or interrupted work due to unforeseen events. As you consider your coverage options for your construction and contracting business, consider these key details of a BOP and how this policy keeps your business safe from costly events.

Property Claims

As a contractor or construction professional, your equipment, tools, and supplies are an invaluable asset to your business. When you have a BOP, you can add an endorsement to ensure the safety and replacement of your business property in the event of breakdown, accidental damage, theft, or fire — even when on the worksite. Contact an insureon agent to learn more about how you can customize your BOP if your construction business is eligible.

General Liability Claims

To protect your contracting and construction business from lawsuits alleging property or bodily harm, your BOP includes General Liability coverage. For instance, if a client is hurt at your place of business, General Liability Insurance shields your business from related medical assistance, as well as court costs and legal fees should the client sue. In addition, the General Liability coverage of your Business Owner's Policy may also protect your small business against completed operations liability, contract liability, personal and advertising injury. General Liability Insurance also protects you if your client's property is damaged on your premises. For contracting and construction business that advertise, the added protection from advertising liability and product liability is an added assurance.

Business Interruption Insurance

Certain Business Owner's Policies may also include coverage for business interruption expenses and the lost revenue while your business was out of operation. For example, if a lawsuit involving your business temporarily halts operations, a BOP may compensate you for the lost revenue while you defend your business in court. The amount of coverage depends on your policy limits, and would only kick in for covered claims.

Policies Tailored for Contractors & Construction Professionals

Policies Tailored for Contractors & Construction Professionals

As you shop around for business insurance for contractors and construction professionals, you may want to ask if a Business Owner's Policy is appropriate for your coverage needs. When you complete insureon's hassle-free online application, we'll help you find the policies that provide the coverage your business needs — no extras or hidden fees.

If you still have questions, contact an insureon agent today to find out if your contracting & construction business qualifies for a Business Owner's Policy.

Grab-n-Go Information

The House Insurance Built: Risk Management for Builders & Contractors
Browse eBook
Sample certificates
See a sample Certificate of Liability Insurance, the proof of coverage you need for most contracts.
View Sample
Sample Quotes & Cost Estimates
See what insurance really costs: actual quotes by policy & specialty.
Get Estimates
Ask A Question
Submit your questions about construction insurance and get answers from our experts.
Read Answers