If you have a large construction project, wrap-up insurance is well worth considering.
Large construction projects come with a large range of risks. Because the financing required to undertake such a project is significant, everyone involved will likely want to ensure that those potential obstacles to finishing the project on budget and on time have been mitigated. Wrap-up insurance is the best solution for controlling risks on a large construction project from start to finish.
This type of policy is a good idea for large projects for a number of reasons. First, it protects all the involved parties: the project owners, contractors, and subcontractors. You’ll likely need to bring a lot of people to your job site to handle the build, and under a wrap policy they’re all insured.
Additionally, wrap up coverage extends in a number of areas. These policies include coverage for general and excess liability, builders risk, and workers’ comp. They can also cover environmental and professional liability or any other areas of exposure unique to your specific project.
With the right wrap policy, everyone involved in the build has coverage for a number or risks at a lower cost. Risk sharing techniques can help you secure this type of coverage at a lower rate than you would traditional commercial coverage.
A wrap-up insurance policy can protect your large project in one fell swoop. If you want to spend less time and money insuring your upcoming build, consider this coverage.
Just because your project is big doesn’t mean getting the right wrap-up insurance should be a big hassle. Go straight to the experts; contact Nahai Insurance Services. We specialize in wrap coverage for large-scale construction projects and can provide you with the best policy. We’ll look at your unique build and its specific exposures to customize the right coverage to protect all project owners, contractors, and subcontractors involved. Call us today!