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Construction Insurance

Construction Insurance Information

Insurance that covers damage to or destruction of a building while construction is in progress.

BRIDGE INSURANCE FOR BRIDGES UNDER CONSTRUCTION IS - An insurance policy that provides coverage for fire, accidents or other damage against a bridge while it is being constructed. A contractor may purchase bridge insurance to avoid paying for damages that may result from mischief or natural disaster on a bridge it is building.

A construction bond minimizes the financial risk faced by project owners and developers in the construction industry. The bond is similar to an insurance policy, but actually goes a step further to provide a legal guarantee. Bonds guarantee that the contractor holding the bond will perform a specified obligation or face financial penalties.
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