Home Builder Coverage – What Can I Do Today?

home building insurance

Protecting yourself may not be high on your “to-do” list as a residential builder, but it should be. While you may be busy with subcontractor scheduling, ordering materials, banking and HR issues, and so on, you may be ignoring the most important aspect of your business, you. Many general contractors don’t always know what kind of coverage is needed for financial protection, so let’s break it down.

Home Building Insurance and General Liability

Securing the right general liability coverage can help protect you from certain lawsuits, mishaps, and third-party property damage that can have an irrevocable effect on your business. General liability coverage can protect you if you or someone for whom you are legally responsible causes injury or death to a third party during the course of work. It can provide medical care for the injured person and can cover your legal defense if you are sued for damages. It can also provide coverage if you or one of your employees cause damage to property belonging to others.

You may ask “What can I do today?” to protect myself. The LHBA GL Trust provides many answers to that question. First, by becoming an indemnitee of the GL Trust, you will be covered by an organization that puts the builder first.  The GL Trust is built by builders, for builders, and is run by builders. Second, you will have access to sample legal forms and contracts that can be used to protect you and your business. Forms such as:

  • Contract to Build on Owners Lot with AAA Arbitration Language
  • Remodeler Construction Contract
  • Subcontractor Agreement with Arbitration Language
  • Spec Home Purchase Agreement
  • and many more!

Finally, as an indemnitee, you will have access to two free hours of legal advice from a Louisiana attorney who routinely drafts and negotiates home builder contracts in Louisiana. This is a benefit that no other GL carrier in Louisiana offers, and it is one of the many great benefits you receive as an indemnitee of the GL Trust!

Call or email John Brooks at 225-999-8820 or jbrooks@rmsla.com for more information about how you can access these valuable benefits.