Link construction in the Insurance Plan

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Import your document. You can drag and drop your Insurance Plan right to our file upload pane, browse it from your device or cloud, or opt for an alterntive way to add it (through a direct form link on an external resource or from an email attachment).
Change your content. You can alter your Insurance Plan utilizing DocHub’s top tool pane just the way you need it - insert new text, pictures, and icons. Update your form by erasing or striking out incorrect details while underlining or highlighting the most critical data with your preferred colors.
Create fillable forms. Click on the Manage Fields button in the top left corner. Place fillable fields for text, initials, checkmarks, and dropdowns so your recipients can provide their data. Make these fields required or optional, and assign them to particular people.
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How to Link construction in the Insurance Plan

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good morning my name is taylor lewis and i am the education coordinator at the edmonton construction association we welcome you to the construction insurance 101 webinar if you have any questions during the webinar please type them in the chat box and we will make sure that they are answered i now present to you chris way from lloyd zad thanks very much taylor good morning everybody um im gonna start by sharing my screen here just one second uh so first off i want to thank the ca for the opportunity to uh put on this event its been something weve been talking about doing for a while and im really happy to be here and be doing this this is our initial offering of this event so or this webinar i should say really hoping that everybody takes away some some stuff from this today and uh also that theres some good questions and discussions so as taylor said if you guys have any questions please use the q a feature and well try to get those answered during the presentation or well have

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Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

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Whats the difference between insured and bonded?

Being insured means that you have purchased insurance, and you are covered if you need to file a claim against that insurance. Being bonded means that someone else is covered if you need to make a claim against the bond.

What does fully insured mean for a contractor?

It covers medical costs and lost wages of a worker that is harmed while on the job. If the contractor does not carry it, the injured person may decide to sue and you could be found liable.

What is leg 3 coverage?

LEG 3, aka the cost of correcting or making good, is an endorsement that narrows the policys automatic exclusion to provide broader coverage for faulty design, materials and workmanship during the course of construction, as defined under the Builders Risk policy.

Should my contractor name me as additional insured?

Typically, a general best practice is that any subcontractor working on behalf of a contractor should also name the contractor as an additional insured in their liability policies. In addition, any other additional insured needs should be viewed as part of the companys risk transfer program.

Why is it important for a contractor to be insured?

Hiring a contractor that is fully insured protects you from lawsuits arising out of contractor actions, but it also prevents you from suffering financially should the contractor damage your property or cause injury to you or others.

What is professional liability insurance coverage?

What Is Professional Liability Insurance? Professional liability insurance helps cover you and your company if you make a mistake in the professional services given to a customer or client. This coverage is also known as errors and omissions insurance (EO). Even if youre an expert in your business, mistakes happen.

What does insured mean in construction?

Construction insurance is insurance protection that provides financial compensation for covered losses to a building or structure, as many mistakes, errors, and unforeseen events can lead to damages and losses during the construction of a building.

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