Are you a contractor or tradesperson that works on commercial renovation or constructions projects? Then commercial renovation insurance is for you. ALIGNED is here to find a customized and flexible insurance policy that suits you and your renovation or construction business. We are experts in all kinds of insurance, including commercial renovation insurance, and we’ll work tirelessly to find the right commercial renovation policy for you.
What is commercial renovation insurance?
Commercial renovations are exciting, but they’re also complex, which means it’s not hard for something to go wrong. Protect yourself and your employees by investing in commercial renovation insurance. This type of construction insurance can safeguard your business against accidental injuries, property damage (including damaged or stolen tools and equipment), theft, vandalism, and lawsuits. The reality is that commercial renovation contractors are exposed to a wide range of risks on a daily basis. And suffering an uninsured loss could bankrupt your business, or ruin your reputation to the point that your client base disappears. At the end of the day, commercial renovation insurance is one of the best ways for any contracting company to protect itself from financial losses.
What does commercial renovation insurance cover?
The coverage included with your commercial renovation insurance policy is ultimately up to you. From the coverage limits to the coverage types, the policyholder decides what to purchase as part of their policy. The recommended types of coverage for commercial renovation insurance are as follows:
- Commercial general liability insurance
- Wrap Up Liability Insurance
- Builders Risk or Course of Construction Insurance
- Commercial property insurance
- Tools and equipment insurance
- Commercial auto insurance
How much does commercial renovation insurance cost?
Several factors determine the cost of commercial renovation insurance. Insurance providers will consider the following: your location, years of experience, the number of employees or subcontractors you employ, your annual revenue, and the tools and equipment you own. Beyond these factors, purchasing additional coverage, a lower deductible, and raising your coverage limits can all raise the price of your policy.