An owner controlled insurance program is a centralized insurance program usually procured for either specific construction projects or multiple construction contracts. The reason why general contractors and builders need to get this OCIP is because it will be able to cover all the project interests of the contractors and sub-contractors that will participate in the project. The general contractor will be able to maintain risk control and take up the management and administration of the insurance policy. The owner controlled insurance program is different from a contractor-arranged insurance program because under the latter, each individual contractor has to get his own insurance policy on different terms and conditions, limits and insurance coverage.

Blanket insurance is a type of insurance that will protect one from accidents, liabilities occurred during a contract and many other things in regards to general contractoring. There are some cases where something may go wrong during the course of a contract and warrant a lawsuit, bringing a contractor down in his business. However, if he has contractors liability insurance, the reverse would be the case. That is why it is very advisable for contractors to adopt this system because mere thinking of how to get a good lawyer to defend you in such cases would be time wasting and expensive and in the long run it might put you off your business.

The general contractor’s insurance doesn’t have to be complicated. Let’s start by first identifying what the insurance company considers a general contractor and the two categories that most general contractors fall into. Wikipedia defines a general contractor as follows: The … Read more

Did you know that you need Umbrella Liability Insurance to supplement your current contractors insurance? Your work as a contractor is very risky. You’re climbing ladders, carrying heavy tools, cutting, molding and hammering things together to create the perfect project … Read more

Why should you get roofers insurance before starting with your roofing project? When you are on a project of fixing or remodelling your roof, and hired a roofer, then it is important to get protected by roofers insurance in case … Read more

Hiring a good contractor is a serious business that if done accurately results in finding the most proficient contractor for the job. There are many things you will have to check in order to find a reliable contractor that you … Read more

If you are a contractor or are in the process of hiring a general or independent contractor for a project, you should be prepared for any accident or injury that may occur in the workplace. Therefore, it is advisable that … Read more