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Blue Creek Insurance Company Ltd.

Construction Insurance

Construction insurance is available in various types to protect contractors, builders and property owners throughout different project stages. Certain types of insurance are essential for most projects. Let’s explore the basics of construction insurance, typical types, and their necessary timing.

What is Construction Insurance?

construction insurance belize

Construction insurance includes various types of insurance policies that offer protection during construction projects. The term “Construction Insurance” doesn’t represent a specific kind of insurance but is a general term for insurance related to construction projects.

Choosing the right construction insurance will depend on several factors:

  1. Your role in the project e.g. contractor, property owner, or subcontractor.
  2. Whether you’re a business or an individual,
  3. The type of property involved (residential, commercial, industrial)
    We’ll be going over the most common insurance policies that are used in the construction

Types of Construction Insurance

If you’re a property owner and are starting a small to medium construction project or a major infrastructure contractor, you might want insurance for different things like the building itself and materials being moved. 

On the other hand, a contractor working on the same project might need different types of coverage based on the contract. Let’s learn more about the different types of coverage available

Contractor's All Risk

Contractor’s all-risks insurance is a non-standard insurance policy that offers coverage against loss or damage to property during ongoing contract work on a construction site. This type of insurance is particularly useful for contractors, builders, plumbers, and electricians, and anyone who might work on a construction site.

Public Liability

Public liability covers you for any sum that you are legally liable to pay if someone is accidentally injured or if you cause damages to the third party property as a result of your business operations on the premises. 

It also includes any legal fees and expenses resulting from third-party claims.

Employer's Liability

Employers’ liability will cover medical expenses for injuries sustained in a work-related accident. Covered expenses include lost wages, disability coverage, and support payments to dependents. 

Additionally, the employer’s liability will cover funeral expenses if the injured employee dies, the claimant’s costs and expenses associated with the claim, as well as legal costs incurred by the insured while defending the claim.

Professional Indemnity

Professional indemnity insurance protects you against claims for loss or damage made by clients or third parties as a result of the impact of negligent services you provided or negligent advice you offered.  

Compensation claims can be brought against you even if you provided a service or offered advice for free. 

Construction Insurance Costs

This question doesn’t have a very straightforward answer because construction insurance refers to many types of policies for many different situations and can be purchased by different types of policyholders. 

In addition, the contractors, developers, and property owners who may purchase the policies have options when it comes to the level of coverage they want.

Construction Bonds

A Bond is NOT an Insurance Policy.  A bond does not function as insurance and does not cover any costs related to property damage or liability claims that may occur in your business operations.

The liability under the bond is typically joint and several, meaning if the principal defaults, the beneficiary can pursue compensation for losses from either the principal, the Surety, or both.

The principal does not transfer any risk, as the Surety retains the legal right to seek reimbursement from the principal, usually through a counter indemnity.

Construction bonds, also known as contract bonds, exist to “guarantee” certain aspects of a contract or construction project, and ultimately the project contract is guaranteed to be completed if accepted. 

There are several types of contract bonds, which are:
1. Performance Bond
2. Bid Bond
3. Advance Payment Bond
4. Retention Bond

Everything You Need to Know to Get Insured

Secure a quote

Have your supporting documents ready



  •  Two forms of id
  • Proof of address

Insurable interest 

  • Contract/site plan/bill of quantities
  • If applicable, equipment listing

Applicable for a Company:

  • Certificate of Incorporation 
  • Certificate of Good Standing 
  • Certificate of Registration 
  • 2 forms of identification of all shareholders, directors, and owners 
  • Proof of address of the company

Make payment online

We offer E-Kaysh, online bank transfer, or you can visit our office located at Mile 10 Philip Goldson Highway, Teichroeb Building, Second Floor, Ladyville, Belize

Visit our office

Come to our office to sign a proposal form and receive your insurance policy

Get a quote on our Contractor's All Risk Insurance today!

Simply fill out the contact form and one of our experienced agents will be in touch with you shortly to discuss your insurance needs and provide a personalized quote. 

Our goal is to make the insurance process as easy and stress-free as possible, so you can have peace of mind knowing that you’re fully protected. 

Don’t wait, request a quote today!