Specialty Insurance Programs for Construction Contractors

The best contractor insurance combines General Liability, Builder's Risk, Tools & Equipment (inland marine), Completed Operations, and Commercial Auto into a coordinated program. Specialty contractors may also need Installation Floaters or Wrap-Up (OCIP/CCIP) coverage for large projects. The right mix depends on your trade, contract requirements, and project type — a specialty broker like Soma can structure a program covering all of these through a single application with top-rated carriers like Chubb, Liberty Mutual, and Kinsale.

Builder's Risk covers property damage to a structure under construction from groundbreaking to project completion. It typically includes the building itself, materials on-site, materials in transit, and temporary structures. Covered perils generally include fire, theft, vandalism, windstorm, and water damage. Builder's Risk policies can be structured per-project or on a reporting form basis for contractors with an active pipeline of multiple projects.

Completed Operations is a component of General Liability that covers claims arising from bodily injury or property damage caused by your work after a project is finished and handed over. In construction, defect and damage claims frequently surface months or years after completion. Many owner and lender contracts require Completed Operations coverage to extend several years beyond project handover, making it an essential part of any contractor liability program.

An Owner-Controlled Insurance Program (OCIP) or Contractor-Controlled Insurance Program (CCIP) is a consolidated insurance policy that covers all contractors, subcontractors, and trades on a single large-scale project under one program. Wrap-ups eliminate gaps and overlapping coverage across multiple parties, simplify certificate management, and are typically required by owners or lenders on projects exceeding a certain contract value. Soma structures wrap-up programs for complex multi-trade developments.

Yes. Standard General Liability policies do not cover physical damage to rented or leased equipment in your care, custody, or control. A Tools & Equipment inland marine policy — or a specific equipment floater — is required to protect rented machinery, scaffolding, and tools against theft, damage, or loss. Some rental agreements also require specific coverage limits, and Soma can structure a policy that satisfies those contractual obligations.

Yes. Soma specializes in placing construction risks that standard commercial carriers decline, including specialty trades, new ventures without a loss history, contractors with prior claims, and high-hazard operations. Through our specialty carrier relationships with markets like Kinsale and Chubb's surplus lines division, we access programs unavailable through mainstream brokers and can typically deliver quotes faster than traditional wholesale channels.

Soma's Risk Management Team is built for speed. Most standard contractor liability and Builder's Risk programs can be quoted same-day or next-day after submitting one application. Complex programs like wrap-ups or high-value projects may take 2–3 business days depending on carrier requirements. We eliminate the back-and-forth of traditional brokerage so you're not waiting weeks to meet a contract deadline or bid requirement.

To quote a contractor program, Soma typically needs your business entity name, trade or specialty, annual revenue and payroll estimates, states of operation, current or upcoming project details (type, value, duration), any existing coverage and loss history for the past 3–5 years, and contract insurance requirements from owners or lenders if applicable. One application covers your full program — General Liability, Builder's Risk, auto, and more.