RRMJuly 28, 2023 / RRMAdam Beyer

Building Success: Every Construction Company Needs a Rock-Solid Construction Risk Management Plan

construction risk managementAs a construction company, your business operates in an environment where risks are present in every project. In the construction industry risk and potential liability is constantly present from the time you break ground to the final touches on a project. Because of this, it is essential to have a robust construction risk management plan that includes comprehensive insurance coverage. 

Construction Risk Management Plan: Why It Is Essential 

Protecting Your Business and Assets: 

Construction projects are expensive and things like theft, vandalism, and natural disasters can lead to financial losses. Comprehensive insurance protects you and your assets, giving you the peace of mind every business owner wants.

Mitigating Liability Risks: 

Construction sites are inherently dangerous which is why General Liability Insurance is essential for construction companies. This coverage protects you in the event of third-party injury and property damage. Also, Professional Insurance coverage protects you against liability in the event of negligence and errors.

Securing Your Workforce: 

Workers’ Compensation Insurance protects your employees from work-related injuries and illnesses by providing financial support. It also prevents litigation against your business.

Safeguarding Vehicles and Equipment:

Construction companies need Commercial Vehicle Insurance for accidents and damages. For optimal protection, they also need Mechanics Error and Omission Insurance for liability from errors.

Cybersecurity in the Digital Age: 

In today’s modern era cyberattacks are common and, unfortunately, even construction companies are targets. Cyber Insurance protects your business from financial losses and liabilities so that you can keep your clients’ trust.

Comprehensive insurance coverage is an essential component of any construction risk management plan. At RRM Insurance, we understand that construction businesses require unique protections and can tailor commercial insurance plans to your specific needs. Contact RRM Insurance today to learn more about implementing a tailored, comprehensive risk management plan for your construction company.

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When we started our business we had no idea the covereage we needed. The team at RRM helped us find the right coverage and continue to provide excellent support. We love working with them and recommend them to everyone!

Scott Cain Rhino Scooters

When all was said and done it was clear that Jerry and RRM was the right choice for us. I’m grateful to have an agent that is in my corner and is always there to answer questions and solve problems.  I have and will refer friends and family to Jerry and RRM Insurance Services, they get my highest recommendation.

-Anthony N.

I am a small commercial contractor and they have helped us walk through the bonding processes. They have been very respectful, welling to answer all of our questions, and provided great advice. The best part is that we have been able to do several public projects that require a bid bond and then a performance bond. They are really responsive and provide great service. I have no concerns giving them 5 stars and recommending them.

Rusty Riggs

It’s always a pleasure contacting Jerry Morris with RRM Insurance Services. For any insurance need we have, Jerry has always taken care of it swiftly and effectively. He has always provided sound advice and ensures to get us the best value and savings possible!

Vivian Solorio, CFO