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Construction Protection Options for Property Owners


If you are a property owner with plans for building or renovation, an owner-controlled insurance program or OCIP may benefit you. When hiring a general contractor or subcontractor, a property owner pays not only for the construction, supplies, and labor, but they are also paying for the multiple insurance companies that provide the contractor their services. OCIP allows a property owner to take charge of the insurance process before hiring a contractor.

What can be Included in an OCIP?

An OCIP, also known as wrap-up insurance or wrap insurance, is meant to provide a property owner with coverage that is designed to protect against the liability or loss of a construction or renovation project.

While policies vary based on the needs of the owner and the insurance company, an OCIP policy package can include:

Workers compensation
General liability
Excess liability
Employers’ liability
Terrorism insurance
Contractors pollution liability
Builders risk
Umbrella insurance

What are the Advantages to the Property Owner?

The main advantages to property owners by securing their own OCIP is that they can save money and they have more control over the conditions within the policy.

Other benefits include:

Improved efficiency when obtaining insurance
Improved handling of claims
Improved enforcement of safety procedures

By taking control of the insurance process necessary for construction projects, a property owner can save both time and money.