Prepare for the Building Boom with Construction Insurance in Flagstaff AZ
The housing and development market in Flagstaff has been booming for quite some time, as the low inventory of homes has not been able to keep up with the heavy demand in the area. Homes are selling quickly, and buyers need another option for housing. Your construction company makes you a valuable player in addressing the need for more residential dwellings, as well as the corresponding need for commercial property developments where many of these new homeowners will be working. Job growth in the area is predicted to increase over the next 10 years to 37.8%, which is higher than the national average. Coconino County also offers several tax incentives for renewable energy and sustainable development projects, giving you more motivation to set up shop in Flagstaff and get in on the building boom.
If you are part of the 4% of the population that works in the construction industry in the Flagstaff area, our expert insurance brokers are waiting to help you find the right coverage for your operation's liabilities. Whether you deal with skilled trades of plumbing or electricity or you are a project owner, there are several risks in the field that need to be addressed with comprehensive insurance solutions. Let the local HUB team handle your need for construction insurance in Flagstaff AZ.
Realize the Need for Construction Insurance in Flagstaff AZ
The various aspects of the construction industry require liability coverage from the start of a building project to the subcontractors that carry it out. If your company falls into any of the following categories, you need to consider the policies that HUB carries:
Owners or developers
Professional service firms
Within these trades, you find carpenters, plumbers, real-estate developers, project managers, electricians, architects and more. The experts at HUB will evaluate the unique risks associated with each of these roles and work with you to craft a risk management strategy that protects against potential losses.
Find Your Coverage with Construction Insurance in Flagstaff AZ
Regardless of your involvement with the commercial or residential sectors of the Flagstaff construction industry, you will be required to carry construction insurance. This a protection for both you and your clients. Many of the contracts you seek will have specific coverage area requirements dealing with the materials, your employees, the risk of theft or loss on account of a natural disaster. Here are some policies you can expect to purchase.
Course of construction- Also called builder’s risk or construction all risk insurance, this policy covers structures and buildings that are under construction, including foundations, landscaping, fencing, building materials and temporary installments like scaffolding.
Contractor general liability– A type of general commercial liability policy, this protects the business if property damage or bodily harm occurs while the project is underway, with common occurrences related to job-related injuries to third-party individuals, faulty workmanship, or advertising injuries.
Inland marine – The transport or storage of materials, equipment, and property to and from different locations is covered under inland marine coverage, though the construction industry primarily uses this insurance for the coverage of tools and equipment.
Our dedicated and knowledgeable team at HUB will give your company an edge over these construction risks and more. For over 60 years we have given the Flagstaff community the best choices in insurance coverage and risk management services. We are conveniently located off E. Butler Ave, just minutes from the 40. We are easy to find and easy to work with.
Contact a HUB broker today to learn more about the exposures your company faces.