When selecting a construction insurance company for your business, it’s essential to consider factors like financial strength, customer service, coverages offered, and cost. You’ll also want to ensure that your insurer can provide reliable coverage that meets the unique needs of your construction business.
With so many options available, it can be challenging to choose the right insurance provider. That’s why we’ve compiled a comparison chart of some of the most reputable construction insurance companies, including Progressive, Liberty Mutual, The Hartford, and C&S Insurance.
||Financial Strength Rating
||Customer Service Rating
||Key Coverage Offerings
||A+ (AM Best)
||4.5/5 (J.D. Power)
||$500 – $5,000 per year
||General Liability, Builder’s Risk, Contractor’s Equipment, Workers’ Compensation
||A (AM Best)
||3/5 (J.D. Power)
||$1,000 – $10,000 per year
||General Liability, Builder’s Risk, Contractor’s Equipment, Workers’ Compensation, Pollution Liability, Professional Liability
||A+ (AM Best)
||4/5 (J.D. Power)
||$1,000 – $15,000 per year
||General Liability, Builder’s Risk, Contractor’s Equipment, Workers’ Compensation, Surety Bonds, Umbrella Liability
||5/5 (Google Reviews)
||General Liability, Builder’s Risk, Contractor’s Equipment, Workers’ Compensation, Pollution Liability, Professional Liability, Owner-Controlled Insurance Programs
Note: Financial strength rating is from AM Best, and customer service rating is from J.D. Power. C&S Insurance is a private company and therefore doesn’t have a financial strength rating. The cost ranges are estimates only and may vary depending on the project and business needs. It is important to obtain a customized quote from each insurance company.
Each of these companies offers similar coverage options. However, Liberty Mutual offers additional coverage options, such as pollution liability and professional liability. The Hartford offers surety bonds and umbrella liability coverage options. C&S Insurance offers customizable coverage options including owner-controlled insurance programs.
When it comes to customer service, C&S Insurance has the highest rating according to Google Reviews. However, the other companies included in this comparison have varying levels of customer service ratings from J.D. Power.
Overall, it is important to carefully consider the specific coverage needs and budget of your construction business when selecting an insurance provider.