Understanding Completed Operations Endorsements
Understanding Completed Operations Coverage: Protect Your Business Long After the Job Is Done
Understanding Completed Operations Coverage is important for construction business to business relationships. This insurance endorsement isn’t just helpful; it’s crucial. Many contracts require it because it protects their business from claims that arise after you finish a project. By securing this coverage, you can safeguard your company’s finances and reputation.
Why Is Understanding Completed Operations Important?
The Completed Operations Coverage endorsement ensures your business is protected against claims for property damage or bodily injury caused by your completed work. This endorsement also shields the developer or construction business that hired you from expensive claim defense related to your finished projects, helping to maintain valuable business to business relationships.
Understanding Completed Operations
Many clients, project owners, and general contractors require this coverage because it shifts risk back to you and your insurer, reducing liability under their own policies. It provides reassurance that, even years later, they won’t bear the financial burden for your work. This is why it is less common for homeowners but frequently required by developers and lending institutions, who often maintain these policies themselves.
How Does the CG 20 37 Endorsement Help?
The CG 20 37 Endorsement expands your coverage to include project owners or general contractors as additional insureds. This endorsement becomes especially valuable when you work on large-scale projects involving multiple parties. Adding it to your policy ensures all stakeholders are protected from potential claims after the work is completed.
Why is This Coverage Essential?
- Avoid Financial Losses: It prevents out-of-pocket expenses for post-project claims.
- Stay Contract Compliant: You’ll meet project and client requirements seamlessly.
- Build Trust: Clients see you as reliable and professional.
- Ensure Long-Term Protection: Coverage remains effective well after the project ends.
Be Prepared for Every Contract
You can avoid stress and delays by ensuring your insurance meets all contractual requirements. At Artisan Liability Insurance, we offer policies tailored to contractors in the construction trades.
- Learn more at artisanliabilityinsurance.com.
- Ready to get started? Request a Quote Now.
Watch Our Video for More Information
For a clear explanation of Completed Operations Coverage and the CG 20 37 Endorsement, watch our YouTube video:
Understanding Completed Operations Coverage
Spread the Knowledge
If you found this post helpful, share it with your colleagues. By understanding and securing the right coverage, you’ll protect your business and your future.
