Top 5 Common Risks in Construction: Why General Liability Isn’t Always Enough
For contractors in the United States, managing risk is a daily responsibility that extends far beyond simply completing a project on time. While general liability insurance is a vital starting point, protecting your business requires recognizing that the construction industry faces a unique, diverse set of exposures. Relying on a single policy leaves critical gaps that can lead to devastating financial losses, lawsuits, or the closure of your business. Understanding the specific risks inherent in construction projects is crucial for selecting the right combination of coverages. Here are the top five common risks that threaten contractors and why general liability is often only the beginning of your safety net. The Top 5 Risks Contractors Face 1. Workplace Injuries and Accidents Construction sites are hazardous environments. Despite strict safety protocols, accidents happen, resulting in injuries to workers. The Risk: Falls from heights, equipment malfunctions, and structural collapse...