In today’s construction news, read about how having construction insurance is crucial for construction enterprises since they confront numerous dangers. Construction insurance covers a variety of claims, including customer injuries, employee lawsuits, incidents involving company vehicles, and others of a similar nature. On the other hand, the Missouri Department of Transportation said that on Tuesday night, construction teams would begin removing the temporary barrier and speed reduction on eastbound US Route 54. Lastly, the Avila Beach Drive at U.S. 101 Operational Improvement Project, situated at the crossroads of Avila Beach Drive, Shell Beach Road, and U.S. 101, will be initiated by the County of San Luis Obispo on Monday, May 20, 2024.
Top Construction Insurance Providers
Original Source: Best Construction Insurance Companies
Construction companies encounter several dangers, thus insurance is crucial. Construction insurance covers client injuries, employee lawsuits, work vehicle accidents, and more. General liability, workers’ compensation, commercial auto, and builder’s risk insurance are common construction insurances.
There are several building insurance providers, however some are superior. We examined some of the finest construction insurance providers based on coverage, cost, claim processing, and more to help you choose.
Our best construction insurance provider is Hartford due to its extensive coverage, specialized construction claim experts, and risk management initiatives.
Construction businesses can get general liability insurance, contractor’s pollution liability insurance, owner’s and contractor’s protective liability insurance, contractor’s equipment coverage, installation coverage, construction surety bonds, and more.
The Hartford also offers expansion and remodeling wrap-up coverage. These programs can support single, multiple, and multi-site, multi-year, and multi-location projects.
Hartford construction insurance products include risk management services like pre-construction planning, safety program development, safety management courses, and loss analysis advice. Track Risk is also available from The Hartford. Explore Opportunities. (TREO) risk management program simplifies claim handling and lowers loss costs.
When filing a claim, The Hartford matches you with a construction insurance loss expert. Hartford has extensive loss claim teams, in-house attorneys and building defect experts, a special investigation unit, etc.
For the cheapest building insurance, choose Next. General contractor liability insurance starts at $75 per month, according to the company’s website. Multiple building insurance coverage can save you 10%. Next makes it easy to acquire an online quotation to see your business’s coverage costs.
Next sells construction insurance to drywall contractors, debris removal companies, general contractors, excavation companies, paving and asphalt companies, HVAC companies, masons, carpenters, home renovation companies, and more.
Next provides general liability, contractors’ professional liability, workers’ compensation, commercial vehicle, and tools and equipment insurance to construction enterprises. Next offers fewer specialist coverages than other insurers we studied.
Next works almost exclusively online and via mobile app. You can acquire a quote, process claims, pay, manage your policy, and add insureds there. Next may not be right for your business if you prefer a dedicated insurance agent.
Nationwide is a good insurance provider for commercial construction firms.
General and specialty contractors working on commercial projects like street and road construction, sewer and water connections, commercial plumbing and HVAC, commercial electric, excavation and land grading, and others are covered by nationwide construction insurance.
Your business must meet Nationwide construction insurance requirements:
Annual construction payroll of $750,000 or more, 20+ fleet vehicles.
Insurance must cover $100,000.
Given these criteria, Nationwide isn’t ideal for smaller construction enterprises.
Nationwide offers a good assortment of insurance policies and endorsements for construction companies, such as equipment coverage, builder’s risk insurance, and surety and fidelity bonds. However, several insurers we studied offer more coverage options.
Highly satisfied customers are another perk of Nationwide. Nationwide led J.D. Power’s 2023 U.S. Small Commercial Insurance Study of 13 carriers. The nation scored 883 out of 1,000. For comparison, the industry average is 847.
For the best risk management tools and resources, Erie is a great construction insurance company. A sophisticated construction risk control service program is offered by the company. A specialist risk control consultant can assess business risks and help you create a complete risk management plan to avoid losses.
Customers who qualify can also receive 10-hour OSHA Outreach Training Programs, Infrared Thermographic Surveys, disaster planning materials, safety training, occupational health services, and more.
Erie provides general liability, commercial vehicle, workers’ compensation, builder’s risk and installation, and tools and equipment insurance to construction companies. Erie offers sewage and drain backup, code and law, earthquake, hired and non-owned auto, data breach, and other optional endorsements for personalized protection.
J.D Power rates Erie above average for customer satisfaction at 853 out of 1,000. Erie only sells construction insurance in 12 states and D.C.
If your business focuses on residential developments, Insureon is preferable. We cover all sizes of construction enterprises, including independent contractors. Insureon covers home building, renovation, roofing, excavation, debris removal, and other residential home services.
Insureon markets small company insurance. Insureon will match you with construction insurance policies from Hiscox, Nationwide, Chubb, Liberty Mutual, and other respected insurers when you acquire a price online. That simplifies policy and rate comparison without provider quotes.
Insureon’s partner underwriters offer many construction insurance alternatives. You can get commercial auto insurance, workers’ compensation, tools and equipment coverage, builder’s risk insurance, contractors pollution liability insurance, mobile equipment coverage, and construction surety bonds for residential construction firms.
Insureon does not offer risk management programs, unlike other insurers. Your insurer may provide construction claim handlers and other loss experts.
Construction insurance—how does it work?
Construction insurance protects companies from litigation, workplace accidents, and stolen tools and equipment.
Construction companies might benefit from many insurance products. General liability, professional liability, workers’ compensation, commercial vehicle, and contractor surety bonds are widespread.
Claim reimbursement from your insurance company if your firm is sued or suffers a covered loss. The coverage may cover financial obligations and legal defense in a lawsuit.
New Jefferson City Eastbound U.S. Route 54 Lane Construction Continues
Original Source: Construction continues for new eastbound U.S. Route 54 lane in Jefferson City
The Missouri Department of Transportation stated Tuesday night that construction teams will remove the temporary barrier and speed reduction on eastbound U.S. Route 54. The removal will necessitate a single-lane closure Tuesday and Wednesday from 7 p.m. to 6 a.m.
A new third lane on eastbound Route 54 will be finished this week but not used until summer.
Workers should finish the asphalt overlay in late summer. Traffic control devices will prevent drivers from utilizing the unfinished lane until then.
West Main Street to U.S. Route 63 will be restripped after the asphalt overlay. This has two eastbound Route 54 lanes, one northbound Route 63 lane, and a Route W auxiliary lane.
This is part of a continual endeavor to upgrade east and westbound Route 54 from the Missouri River Bridges to north of Kingdom City. MoDOT expects completion in 2025.
US 101 Avila Beach Drive Operational Improvement Project
Original Source: Construction of the Avila Beach Drive at US 101 Operational Improvement Project
The County of San Luis Obispo will commence the Avila Beach Drive at U.S. 101 Operational Improvement Project at the intersection of Avila Beach Drive, Shell Beach Road, and U.S. 101 on Monday, May 20, 2024.
A single-lane roundabout at the U.S. 101 southbound off-ramp, a Park & Ride with Regional Transit Authority (RTA) and Avila Trolley transit stops at the southwest corner of Avila Beach Drive and Shell Beach Road, and traffic calming and site visibility at the northbound off-ramp are the project’s main improvements. The roundabout will improve vehicle efficiency and reduce intersection traffic delays.
The project will also improve sidewalks, crosswalks, and bike lanes for pedestrians and cyclists. These upgrades include a shared-use path below the U.S. 101 flyover to circumvent the roundabout for pedestrians and bikes.
As construction continues and traffic delays are expected, press releases will be sent. Alternative routes and forms of transportation will be recommended for motorists.
CalPortland won the $13.8 million construction contract. State and federal grants handled by Caltrans and County-local monies fund the project. Project completion is expected in 20 months.
Summary of today’s construction news
To put it simply, when it comes to building insurance, The Hartford is your best bet. It provides a wide variety of construction insurance plans, many of which come with endorsements that contractors and firms in the industry can find useful. But remember that everyone has unique needs, so finding the right construction insurance company might be tricky. While the Hartford may be ideal for some companies, it may not be the best fit for others. To discover the best fit for your company’s needs and budget, it’s wise to compare many providers using different aspects.
On the other hand, east and westbound Route 54 from the Missouri River Bridges north of Kingdom City is undergoing ongoing pavement improvement, which includes road work. In 2025, the project is expected to be finished, according to MoDOT.
Lastly, the construction contract for $13.8 million has been given to CalPortland. County and local revenues, as well as federal and state grant money, are financing the project. The projected duration of the project is twenty months.
