Construction 101 - Insurance & Surety: Explained

When analyzing Construction Risks, there are certain basics that insurance professionals must be able to wrap their heads around. Construction .. Read more insurance is designed to insure buildings or projects against replacement or repair — both while they are under construction and, in some cases, for a specified time afterwards. In addition, insuring the exposures of third parties (bodily injury and property damage) is a key element in properly covering off the insurance side of construction risks. The other component that is heavily involved in many construction projects is the Surety portion, which differs from insurance itself as it protects the financial interests of the consumer (owner of the project). In one place you can gain knowledge from experts in construction both on the insurance and surety side.