Complete protection for your construction project
Designed for construction projects of all sizes, wrap-up liability provides comprehensive coverage for all parties involved. It is particularly useful for projects with multiple participants, bringing liability coverages together to create more consistent protection.
MULTIPLE COVERAGES UNDER ONE ROOF
The key features of wrap-up liability coverage
Wrap-up liability provides a single, project-specific policy designed to protect multiple parties involved in a construction project. By bringing eligible stakeholders under one policy, it can create more consistent protection, simplify insurance administration and help reduce potential coverage gaps.
Broad project participation
A wrap-up policy can cover eligible project owners, general contractors, subcontractors and other stakeholders under a common liability policy, subject to the policy’s terms, conditions and exclusions.
Consistent project-wide coverage
Instead of relying solely on the separate liability policies carried by individual contractors and subcontractors, a wrap-up establishes consistent coverage terms and limits for enrolled project participants.
Dedicated project limits
Coverage is arranged specifically for the insured construction project, providing dedicated liability limits that are separate from the participants’ individual annual insurance programmes.
Centralized claims management
A common policy can help streamline the reporting, investigation and management of covered claims involving multiple project participants.
Single and multi-project options
Wrap-up liability can be arranged for an individual construction project or structured as a multi-project programme. The appropriate approach will depend on the scope, duration and insurance requirements of the construction work.
OUR BUILT-IN ADVANTAGE
Why choose Navacord for your next construction contract
Our experts will take a tailored approach to help you find high-quality, competitively priced wrap-up liability coverage for your next project.
Extensive flexibility
We understand that no two construction projects are the same. That's why we provide flexibility in your policy’s wording, coverage and deductibles to meet your exact needs.
Construction expertise
Our team brings 60+ years of experience with new builds and renovations across a range of commercial, residential and civil construction projects.
Responsive support
Rapid underwriting decisions are often required for construction projects. Our team is strongly committed to deliver quick and reliable customer support.
FAQs for wrap-up liability insurance
For businesses involved in construction projects, wrap up liability insurance has several advantages over purchasing multiple coverages separately. As a single comprehensive policy, it reduces your risk of coverage gaps. You’ll also benefit from cost savings, better protection and save time compared to managing multiple policies for various subcontractors.
Consider the risks of your project and the impact that a sudden project stoppage would have on your business. With wrap-up liability coverage, your contractors, teams and owners will be protected from unexpected financial losses.
Insured parties include owners, general contractor, project manager, sub-contractors, consultants, engineers and architects (subject to our professional liability exclusion).
Parties not insured include suppliers, security protection firms.
Commercial general liability is a coverage that many individual contractors likely carry. However, it may run out following multiple claims. Wrap-up liability fills in the gaps, providing protection for all contractors and subcontractors involved on the project with a guaranteed protection amount.
The cost of your wrap-up liability insurance will depend on a variety of factors. The overall value of the project is the main determining factor as higher-value projects often require more extensive coverage. Additional coverage endorsements such as environment liability are also available to add to your policy, which can impact the cost. Contact our advisors to learn more.
There are two ways wrap-up liability insurance can be purchased: by the contractor in charge of the project (contractor-controlled) or by the property owner (owner-controlled). In either case, the wrap-up liability policy typically provides the same protection.
In some cases, a contractor-controlled policy may be more cost-effective and could have higher limits. It may also incentivize property owners to continue working with the same contractor throughout the project.
