Residential & Multi-family exclusions on Commercial Insurance Policies

New Construction projects in California and the west are popping up everywhere, and that is great news for everyone. However, we are noticing a trend that should cause contractors to take notice. That is, most commercial liability policies purchased by contractors specifically exclude work on multi-family and residential construction. And this exclusion will cause problems if contractors are performing work on residential or multifamily projects.

A lot of commercial contractors are surprised to learn that a residential exclusion can also include military barracks, senior care centers, and mixed-use properties. This exclusion also includes condos, townhouses, dormitories, senior living centers, tract homes, and mixed use buildings with both a residential and commercial component.

There are options for contractors and subs who work on these kinds of projects. Building homes, apartments, and condos requires a lot of thought and hard work. Having the right insurance and risk management plan should be approached with the same care. Partnering with the right team can ensure that your insurance program will receive the same attention to detail that you strive for in your own business. By teaming up with Polaris Risk Management, you will have the experience of working with some of the most skilled professionals in developing commercial insurance at competitive prices.