There are plenty of risks associated with the construction industry. From the dangerous machinery used to build structures to the errors caused by workers, you want to be sure that your insurance covers all of your bases. For some business owners, a Course of Construction insurance policy can be advantageous. Review these basic points and get a better idea of how this policy can protect your company and your assets from the unknown.
How COC Insurance Works
Also known as builders risk insurance, COC insurance is a standard policy taken out by most professionals within the construction industry. This plan covers a number of scenarios that a general liability policy will not. For example, an earthquake is a natural disaster that can cause massive damage to a construction site. With a COC policy, you will be protected against any costs that are incurred from damage beyond your control. A number of fees and expenses in the construction field are also covered by this policy, including those associated with constant presence from the fire department. Additional protections include:
- Coverage against government action
- Covered losses in situations of vandalism
- Protection against most common unfortunate events
Protection Against Common Risks
While there are plenty of risks in the construction industry, a comprehensive insurance plan can keep you and your assets protected at all times. Look over the details and get a better idea of how a COC policy can help cover all your bases.