If you’re looking for a way to protect your next build, join the others turning to OCIP insurance.
OCIP insurance, or an owner controlled insurance program, has been growing in popularity year after year. Why? There are a number of reasons, and some pertain to the way this coverage benefits the project owner while others relate to the contractors and subcontractors. So you can make the most informed coverage choice for your new build, here are the reasons OCIP insurance has grown in popularity year after year.
It keeps up with the market.
OCIP insurance wraps coverage for project owners, contractors, and subcontractors into one convenient policy. This is beneficial in our modern market, where new builds are being regularly undertaken to make sure our nation’s aging infrastructure stays stable. With a single policy, these important projects are protected. It also serves everyone involved because, in our litigious age, it’s much easier to have one liability policy protecting all parties.
It saves you money.
When you get OCIP insurance, your contract and subcontractors can take their insurance costs out of their bid. The amount you’ll pay to protect them in your OCIP will be a lot less than you would have paid for the other parties’ general liability, workers’ comp, etc. That means you’ll save money with this coverage option.
It gives you peace of mind.
When you control the insurance program, you can rest easy knowing you don’t have to trust the people you’ve hired – who are construction, not insurance, experts – to protect you. OCIP insurance makes it possible to maintain the coverage you know you need.
OCIP insurance is increasing in popularity for a reason. If you’d like to realize all of the benefits this type of wrap-up insurance can offer, contact Nahai Insurance Services. We’re nationwide brokers specializing in this type of insurance policy, so we can help you maximize the ways you can profit from owner controlled insurance programs while ensuring your policy doesn’t cut into your profit margins.