What is Owner's Interest insurance?
Owner's Interest insurance is a project-specific general liability policy purchased by a construction project owner to protect the owner's own liability exposure arising from the operations of hired contractors. It is not general liability for the contractor.
What does an Owner's Interest policy cover?
It typically covers vicarious liability for bodily injury and property damage from contractors' operations, premises liability tied to construction, completed operations, action-over claims, and personal and advertising injury. Coverage is governed solely by the terms of the issued policy.
How is Owner's Interest different from OCP?
The key difference is completed operations: Owner's Interest includes it, while a standard OCP policy does not. Owner's Interest also generally addresses action-over claims, which OCP typically excludes.
Is Owner's Interest the same as additional-insured status?
No. Additional-insured status depends on the contractor's policy staying in force with adequate limits. Owner's Interest is the owner's own policy and can respond when the contractor's coverage has eroded, lapsed, or cannot reply.
What limits are available?
Limits are available up to $10MM per occurrence and in the aggregate. Actual limits depend on the project and are governed solely by the terms of the issued policy.
How long does completed-operations coverage last?
Extended completed operations can run up to 10 years or the applicable statute of repose, whichever is less.
What types of projects are eligible?
New construction and renovation across residential and commercial work, including custom homes, apartments, condos and townhomes, hotels, and manufacturing or warehouse developments. Demolition and crane work can be in appetite with proper controls.
Is Owner's Interest available in my state?
It is available in 49 states. New York is currently excluded. Some project characteristics may require an underwriting referral regardless of state.
Are pollution and subsidence covered?
Both are available by endorsement, subject to appetite, and are not automatically included. Pollution offers multiple ISO options. Your broker can configure these to your contract requirements.
How fast can I get a quote?
Project-specific quotes are often delivered quickly. A very limited number of risks require a carrier referral. To start, get a quote and tell us about your project.