Why this review matters
A contractor can have valid insurance and still miss a project requirement. Reviewing the contract before work begins helps identify required limits, endorsements, additional insured status, waivers, bonds, and completed-operations obligations.
Information to prepare
- The complete contract and insurance exhibit
- Scope of work, project value, and construction schedule
- Subcontractor agreements and certificate procedures
- Required limits, endorsements, and bond forms
- Owned, rented, borrowed, and mobile equipment schedules
Decisions to discuss
- Additional insured status and completed operations
- Primary and noncontributory wording
- Waiver of subrogation requirements
- Builders risk, professional liability, pollution, and surety needs
Common pitfalls
- Relying on a certificate as proof of every endorsement
- Reviewing insurance requirements after signing
- Failing to pass requirements to subcontractors
- Ignoring warranty or completed-operations periods
Frequently asked questions
Is a certificate of insurance the same as the policy?
No. A certificate is evidence of coverage at a point in time and generally does not amend policy terms. Required endorsements should be verified separately.
Why review contracts before bidding?
Insurance and bonding requirements can affect eligibility, pricing, available limits, and the time needed to obtain documentation.
Coverage descriptions are general. Availability, eligibility, limits, exclusions, and policy terms vary. Review actual policy documents and requirements with an appropriate insurance professional.