This coverage is often used for residential construction exposures valued in the realm of $5 million and protects owners, contractors, and subcontractors.
Construction Wrap-Up or Controlled Insurance Programs are defined by The International Risk Management Institute as “A wrap up or a controlled/consolidated insurance program is a centrally procured and managed insurance and risk control program implemented for a construction project or a series of projects.” These programs can be divided into two categories: Single Programs and Rolling Programs.
1. Construction values of $100 million
1. Multiple projects on a single site $125 million over 2-3 years.
2. Multiple projects on different sites $150 million
3. Minimum size $20 million
Construction Wrap Up Insurance protects owners, contractors, and subcontractors against third-party exposures valued in the realm of $5 million or more. Construction insurance is complex and our highly experienced and knowledgeable team can assist you in ensuring you have adequate coverage, eliminating duplication or gaps in coverage. Every construction job is unique and Construction Wrap-Up insurance is job-specific coverage that lasts for the duration of the project and provides identical, sweeping protections for all contractors and subcontractors involved in the project. With Construction Wrap-Up insurance, you will enjoy broader and better protection while streamlining loss control and claims management. A good construction wrap-up program should offer three important advantages:
Our knowledgeable staff has decades of experience in the construction industry and knows how to help you tailor a program that fits your needs and provide the coverage you want. Get in touch to learn more about the benefits of Construction Wrap-Up Insurance.
Standard construction wrap-up program coverage generally consists of workers’ compensation, general liability, and excess liability. Because every project is unique, it is a good idea to consider other coverages you may need for better risk management, including:
General Liability Coverage typically only covers general liability and excess liability but often excludes other important insurances, such as:
Our experienced team can assist you in determining what coverage you need to best protect your project, yourself, and your subcontractors. Contact us to get more information about tailored Construction Wrap-Up insurance.
While construction wrap-up insurance protects owners, contractors, and subcontractors, there are some people that are not covered, including:
It is important to know who and what are covered in your insurance policy so that you can understand your risk exposures. We can help you identify potential exposures and tailor insurance coverage to provide important protections that minimize your risk.
24/7 digital proofs of insurance through our online portal. `
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We believe while 21st digital solutions make workplaces efficient and quick paced; but some projects require a human interaction that cannot be replaced by a digital portal. We pride ourselves on our staunch dedicated staff who are always looking to help your business and create solutions that solve your needs, because we understand that your needs are unique. At RRM we believe your more than just another number in our book, you’re a business partner, one we know we can keep for life.
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Get Free QuoteWhen 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!
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.
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.
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!