RRMAugust 18, 2023 / RRMAdam Beyer

Streamline Your Construction Projects with Construction Wrap-Up Insurance

construction wrap-up insuranceWhen you work in construction you may often find yourself managing multiple projects simultaneously. Each project is unique which means it also comes with unique risks and liabilities that need to be addressed so that things can run smoothly and be completed to the customer’s satisfaction. In the construction world, comprehensive, tailored insurance is absolutely essential for peace of mind that you are protected from risk. Construction Wrap-Up Insurance is insurance coverage that was designed to simplify your coverage requirements across multiple projects and sites.

What is Construction Wrap-Up Insurance?

Construction Wrap-Up Insurance, also known as Controlled Insurance Program (CIP) or Owner-Controlled Insurance Program (OCIP), is a specialized insurance policy that covers all parties involved in a construction project. It differs from traditional insurance policies that are obtained separately for each project component by consolidating all of the coverage you need under a single umbrella policy. This coverage streamlines the insurance process, minimizes coverage gaps, and improves risk management for peace of mind.

The Benefits of Construction Wrap-Up Insurance:

  • Simplicity in Complexity: Managing multiple construction projects is no simple task-it requires you to manage multiple insurance policies with different coverage limits. Construction Wrap-Up Insurance combines all of these policies into one which makes your life easier and ensures consistent coverage across the board.
  • Tailored to Your Needs: Every construction project is different, and so are the risks associated with them. Construction Wrap-Up Insurance can be customized to meet the specific needs of your projects, whether they involve a rolling program with projects worth $125 million or multiple sites with a combined value of $150 million. This flexibility ensures that you get the coverage that is right for your projects.
  • Better Risk Management: By consolidating your coverage, it will be easier to understand the overall risk of your projects. With a comprehensive view of your risk, you are better able to identify potential vulnerabilities, implement risk mitigation strategies, and ultimately reduce the likelihood of costly surprises in the future.
  • Cost Savings: By bundling coverage into a single policy, insurance providers can offer cost savings that may not be possible with individual policies for each project. This can lead to cost savings for both the project owner and the contractors involved.

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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