Wrap-Up Insurance

BENEFITS OF WRAP INSURANCE

Some of the most successful and prestigious project owners and contractors turn to Nahai Insurance coverage to create a customized plan, and implement and administer their policies.

The benefits to you include:

• Cost savings
• Improved coverage
• Higher limits

You can rest assured, as, unlike typical contractor’s liability insurance, the project owner or lead contractor maintains greater control over their options, because when you have a wrap insurance policy, your project will employ just one or two insurance carriers. So, if you have a claim, the process becomes more straightforward and streamlined. Who wouldn’t want fewer insurance adjusters and lawyers involved? And when you have fewer insurance carriers, you also reduce the possibility of cross litigation. In addition, since everyone on the project is covered by the same insurance policy, there is no need to determine who, or what, is at fault for an accident. Plus, with a wrap insurance policy, ensuring that contractors have adequate coverage is not necessary, as all enrolled contractors share the same limits and breadth of coverage, which is higher than they would secure on their own since a wrap-up is a project-specific policy.

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Whatever your project, we highly recommend wrap-up insurance for any project owner, developer, contractor or investor whose project is valued at $5 -10 million or more. However, since all construction projects come with their own specific needs, it’s best to talk to one of our wrap-up specialists.

Read more about our Contractor Controlled Insurance Program (CCIP) and our Owner Controlled Insurance Program (OCIP).