What is the difference between contractors general liability coverage contractors professional liability and builders risk coverage?

In: Liability Insurance

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Builders Risk - 1st Party coverage for a building under construction - covers the Property - building & materials.

Contractors GL - Covers your exposure for causing Bodily Injury or Property Damage with exceptions. Covers you acting in your capacity as a contractor only, for example, kids playing on the job site fall in a uncovered trench. A GL policy would respond on your behalf. It would also respond to a claim such as one of your employees accidentally damages the plumbing in a building & causes water damage.

Professional Liability covers professional services such as design work, site assessments & the like. Any contractor that does any sort of design work needs a Professional Liability policy in case they make design errors. The GL policy specifically excludes this.

First answer by Donnamac. Last edit by Maur651. Contributor trust: 11 [recommend contributor]. Question popularity: 55 [recommend question]

Also see on Answers.com

Liability, Professional (business term)
Homeowners Insurance Policy-Section Ii (Liability Coverage) (insurance term)

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