Why PSW?
Our Excess Insurance policy is designed to provide additional coverage beyond the limits of your primary insurance policy. In this page, we will explain what Excess Insurance is and why general contractors and construction companies might need it.
What is Excess Insurance?
Excess Insurance is a type of insurance policy that provides additional coverage beyond the limits of your primary insurance policy. It is also known as “umbrella insurance” because it provides an extra layer of protection over your primary policy. Excess Insurance is designed to cover claims that exceed the limits of your primary policy. It is an important policy to have because it can help protect your business from financial ruin in the event of a catastrophic loss.
Why do general contractors and construction companies need Excess Insurance?
General contractors and construction companies are exposed to a wide range of risks that can result in significant financial losses. These risks include property damage, bodily injury, and lawsuits. Excess Insurance can help protect your business from these risks by providing additional coverage beyond the limits of your primary policy.
Protection against lawsuits
Construction companies are often sued for damages resulting from accidents or injuries that occur on the job site. These lawsuits can be costly and can quickly exceed the limits of your primary policy. Excess Insurance can provide additional coverage to help protect your business from these types of lawsuits.
Protection against property damage
Construction sites are often filled with expensive equipment and materials. Accidents can happen, and property damage can occur. Excess Insurance can provide additional coverage to help protect your business from the financial losses associated with property damage.
Protection against bodily injury
Construction sites are also dangerous places, and accidents resulting in bodily injury can occur. Excess Insurance can provide additional coverage to help protect your business from the financial losses associated with bodily injury claims.
Protection against unforeseen events
Construction projects can be unpredictable, and unforeseen events can occur. Excess Insurance can provide additional coverage to help protect your business from the financial losses associated with these events.
Conclusion
Excess Insurance is an important policy to have for general contractors and construction companies. It provides additional coverage beyond the limits of your primary policy and can help protect your business from financial ruin in the event of a catastrophic loss. At PSW Insurance, we understand the unique risks faced by general contractors and construction companies, and we are committed to providing the best possible coverage to our clients. Contact us today to learn more about our Excess Insurance policy and how it can help protect your business.
