Understanding Construction Insurance Coverage in Colorado

Man buzz sawing a piece of wood.

Colorado’s construction industry is a driving force behind the state’s economic engine. Whether you’re a seasoned contractor or embarking on your first home renovation project, understanding construction insurance is vital. It protects your project, your workers, and your financial well-being throughout the construction process. Here’s a breakdown of essential construction insurance policies in Colorado, along with considerations for tailoring coverage to your specific project.

Securing Your Project: Essential Construction Insurance Policies in Colorado

There are three key types of construction insurance that form the foundation of a comprehensive risk management plan:

A construction site with cranes, highlighting the need for construction insurance in Colorado.
Ensure your Colorado construction project is protected from groundbreaking to completion with comprehensive construction insurance coverage.
  • General Liability Insurance: This protects you from third-party claims of bodily injury or property damage arising from your construction activities. Imagine a passerby tripping on exposed rebar – general liability insurance would help cover their medical expenses.
  • Workers’ Compensation Insurance: In Colorado, all employers with one or more employees are required to carry workers’ compensation insurance. This safeguards workers who suffer work-related injuries or illnesses, covering medical expenses and lost wages.
  • Builder’s Risk Insurance: This protects the structure under construction itself, along with materials and equipment on-site. It covers potential losses due to fire, theft, vandalism, and weather events.


Beyond these essentials, additional coverage options exist depending on the project’s nature and complexity:

  • Commercial Auto Insurance: This covers company vehicles used for transporting workers, materials, or equipment.
  • Excess/Umbrella Liability Insurance: Provides additional coverage beyond the limits of your general liability policy for larger lawsuits.
  • Pollution Liability Insurance: Protects against environmental damage caused by construction activities. This may be crucial for projects involving hazardous materials.

Tailoring Coverage for Your Colorado Project: Additional Considerations

When selecting construction insurance, consider these factors to ensure your project is fully protected:

  • Project Size and Complexity: Larger, more complex projects require more comprehensive coverage. A simple home renovation may not require the same level of insurance as a high-rise building.
  • Contractual Requirements: Your construction contract may stipulate specific insurance requirements from all parties involved, including subcontractors.
  • Colorado-Specific Requirements: Be aware of any local regulations or permitting processes that have insurance implications.

Partnering with a Trusted Advisor: Your Colorado Expert

Navigating construction insurance can be complex. Partnering with a local insurance agent in Colorado can significantly benefit your project:

  • Local Market Knowledge: They understand the specific risks and insurance requirements for Colorado construction projects.
  • Risk Assessment and Tailored Coverage: They can conduct a thorough risk assessment of your project and recommend an insurance plan that effectively mitigates those risks.
  • Competitive Quotes & Negotiation: They can access quotes from multiple insurance carriers and negotiate on your behalf to secure the best coverage at an affordable price.


Building a strong foundation for your Colorado construction project begins with a comprehensive insurance plan. By understanding essential policies, considering your project’s specifics, and partnering with a local insurance expert, you can ensure a secure and successful construction journey.

Ready to build with confidence? Prince Insurance specializes in construction insurance solutions for projects of all sizes in Colorado. Contact us today for a free consultation and get a quote on the perfect construction insurance plan for your Colorado project!

Comprehensive New Construction Insurance for Contractors

A construction project filled with half built red platforms.

The typical contractor will be protected by a general liability/errors and omissions (E&O) policy and a workers compensation policy. Both of these policies provide coverage for claims that result from accidents and injuries of employees or contractors.  However, these policies typically do not provide coverage for the contractor’s operations. For example, what if a worker falls off of scaffolding that was built incorrectly? Will the workers compensation or general liability policy cover any losses associated with this accident? In many cases, neither will because these types of incidents are considered to be errors and omissions on behalf of the contractor.

Construction companies have a unique set of risks, which is why builders risk insurance is the best type of coverage for construction companies.

What are the unique threats that a new construction site has that need insurance?

To mitigate these risks, contractors should look into purchasing new construction insurance.

This type of policy is designed to fill in the gaps that a traditional workers’ compensation or general liability policy will not cover. New construction policies are usually written as all-risk policies and cover losses resulting from basic errors and omissions, such as those mentioned above.

Work With a Broker

How do you ensure that you have comprehensive new construction insurance? The answer is to work with a broker who understands the industry. Brokers work with multiple insurance companies and can layer coverage to ensure that contractors are adequately covered. Remember, not every policy is the same, and not everyone will be able to offer access to the best new construction rates.

They also should consider purchasing a blanket bond if their business has more than one location or subcontractors. Speak to your local insurance agent to better understand your options.

For contractors, the challenge is to accurately determine what their exposures are and then purchase insurance that addresses those exposures, but minimizes unnecessary costs. Insurance can be complex and confusing, but an agent who works directly with multiple carriers and understands how risks fit together can help contractors find the best coverage for their needs. The added benefit of working with a broker means you can avoid paying the markup on your insurance, and you have someone to call when you need help.

Find Local Insurance Support

Contact Prince Insurance today for a free quote on new construction insurance.

Insurance Plans Construction Companies Should Have

sillouhette of two men a construction platform.

Construction businesses are responsible for some of the biggest projects on the face of the planet. To successfully raise a building, a team must manage the delicate and lengthy process of planning, procurement, and building without flaw. It’s harder than it sounds! Sometimes an unexpected situation will raise additional challenges or even risks, delaying or throwing off the whole project. Insurance for construction companies is a great solution to keeping projects on track and protecting important assets. Here’s a brief overview of the types of protection you need and which threats you might face.

Best Options for Coverage

Law compliance is one of the key components of every construction project. The building must conform to regulations, whether it’s sidewalk size, the number of bathrooms per floor, or health and safety regulations onsite. Most places mandate the type of coverage required to be compliant. Large projects absolutely need strong coverage; otherwise, they put thousands of people at risk. The second key component of a construction project is employees. Employee protection is critical to attracting great talent and defending them from threats onsite. Finally, builders risk insurance is the bedrock of any major building project. It’s the insurance for construction companies that does the most legwork when it comes to protecting every aspect of the project.

Builders risk insurance is the best type of coverage for construction companies.

Threats to Buildings Under Construction

It’s scary to list them all at once, but smart project managers and developers know that it’s better to face the risks than turn a blind eye. Inclement weather could destroy part of a partially built property. Theft or vandalism could require expensive clean-up or generate bad news coverage. Faulty materials or shoddy workmanship could introduce errors that need fixing. People could fall, or materials could show up late to the site.

Insurance for production companies is important. Are you confident in your coverage? Get a quote from Prince Insurance and know for sure.

Best Home Builder Insurance Packages

Homeowners Associations (HOA) Insurance

Construction projects are fraught with risk, no matter how careful you are. Even if you choose the best contractors in the world, there is always a chance that something could go wrong. That’s why you need home builder insurance. The best packages will offer coverage for you, your team, and your equipment. Accidents happen, and the right coverage will help protect you and attract cautious clients. Ready to find the right insurance for a home builder?

The Best Insurance for a Home Builder

First, let’s understand the coverage. Construction and home building include a variety of complex tasks. After all, the home needs to be durable and livable. You need coverage to protect you while you install electrical, plumbing, woodwork, plastering, roofing, and more. On-site, workers are often required to use power tools or climb scaffolds. If something falls on a car parked at your construction site, would it be covered? While you’re in the process of building someone’s home, you need insurance that covers everyone and everything. This should include broad liability protection, workers compensation, materials coverage, and vehicular protection. Not only is this good for your business, but it’s a great way to gain the trust of your clients.

Man sliding a piece of wood across a table saw.
Make sure your home builder insurance covers everyone and everything on site.

The Importance of Home Builder Insurance

Protection can’t be underestimated in risky businesses like construction. Your reputation is at stake. If you don’t have insurance, and one of your workers gets injured, you might struggle to hire great contractors in the future. Insurance for a home builder is critical from a client’s perspective, too. Your potential customers will want to know that you have robust coverage in case of an emergency.

The right coverage could help you get more business. Ready to explore your policy options as a home builder? Get in touch with Prince Insurance, and we’ll find an option that gives you the coverage you need.

Why You Need Builders Risk Protection

sillouhette of two men a construction platform.

After finally seeing your new home, office, or general property fully constructed, it’s a natural impulse to want to protect it from the elements with insurance – you don’t want something as simple as a flash flood to ruin what you’ve waited so long for.

But what about insurance for your property during its construction, as well?

Construction Risks and the Importance of Builders Risk Insurance

Although people tend to neglect insurance for their property during its construction, the reality is that properties are often more susceptible to damage during construction.

For example, a lack of complete coverings and security features makes properties being constructed much more susceptible to weather damage from wind, hail, or rain, as well as theft and vandalism.

This is why if you want to increase the chances of your property coming out exactly the way you imagined and save money in repair, replacement, and labor costs along the way, protecting it during construction with a Builders Risk policy is a very smart move.

A construction project filled with half built red platforms.
Given the in-progress nature of structures around construction sites, they’re much more susceptible to potentially dangerous elements like weather.

This type of policy can provide the following types of coverage:

  • Structural Coverage: Protects the buildings and other structures associated with the project.
  • General Liability: Protects the at-risk people working on the project.
  • Equipment & Materials Coverage: Protects the equipment and materials being used for construction.

Of course, these are simply the most common forms of coverage that go into most builders risk policies; what ultimately ends up being covered in your policy will depend on the needs and features of your specific project.

In some cases, you may need more comprehensive coverage, such as that found in contractor insurance or construction insurance.

Who Should Get Builders Risk Insurance?

Because of how many moving parts are typically involved in a construction project, it’s very normal for more than one name to be on a Builders Risk policy.

For example, while it’s most common for Builders Risk insurance to be taken out by those funding or managing construction, it’s also just as common for landowners, architects, engineers, and any other specialized professionals involved with the project to sign their names as well.

Getting Set Up with the Right Coverage

There’s no such thing as a one-size-fits-all Builders Risk policy. That is why it’s so important to prioritize working with insurance companies that understand not just how to protect construction properties, but that have enough expertise to be able to provide a tailor-made solution to your specific coverage needs.

Fortunately, these are exactly the types of policies that Prince Insurance Group can help you with.

To learn more about getting the perfect Builders Risk policy from professionals you can trust, contact Prince Insurance Group today.

Why Insurance for Subcontractors Is Essential

Man sliding a piece of wood across a table saw.

Let’s say you’re a construction subcontractor trying to convince a contractor to give you work. You have all the necessary skills and materials, but you’re missing one crucial thing – insurance.

Why does not having insurance affect your ability as a subcontractor to get work on a construction site? To give you a tip, it has something to do with accountability.

Continue reading to learn more about why not having insurance is often the single biggest reason why subcontractors don’t get work.

Risk of Injury

Not having insurance – a seemingly small detail that doesn’t affect your ability to do your job – automatically makes your contractor more accountable. This is because, without insurance, employers become more at risk of having to pay you for any injuries, should they occur.

Construction subcontracting tends to come with more risk of injury, and therefore the need for insurance is higher.

With an insurance policy in place, however, that responsibility becomes your insurance company’s–not your employers. Therefore, employers are much more willing to hire you because they know they won’t have to pay you in the event of an injury.

Best Policies for Subcontractors

Now that you know the importance of insurance for subcontractors, the next step is to choose the right coverage for your needs.

For construction subcontractors, a good place to start is a comprehensive construction insurance policy. With this type of policy, you can expect coverage for:

  • General Liability: A broad type of policy that provides your company with liability insurance for general business risks.
  • Commercial Auto: Covers physical damage and liability coverages for vehicles used by your business.
  • Workers’ Compensation: Offers coverage if an employee suffers injury or illness while on the clock or within the scope of their job duties.

However, as a subcontractor, or someone who owns their own business, you’re also going to probably need one or all of the following additional coverages:

Armed with these types of policies, you’re sure to increase the likelihood of getting hired for construction-related projects as a subcontractor.

Finding an Insurance Agent

The final step to securing the insurance you need as a subcontractor is to find the right insurance agent, looking at such factors as experience, customer reviews, and the ability to provide insurance for subcontractors in the first place.

To start off in the right direction, check out Prince Insurance Group. We offer one of the most diverse insurance menus on the market, with plenty of options specifically designed to work for subcontractors (including the types of policies listed in the section above).

Check out your options by getting in contact with Prince Insurance Group today!