What type of insurance covers damages caused by completed operations?

Completed Operations Insurance is a specific type of coverage that protects contractors and businesses against claims arising from damages or injuries that occur after the completion of a project or operation. This insurance typically covers incidents where the work done has led to property damage or bodily injury after the contractor has finished their work and has left the site.

The necessity for this type of insurance arises from the fact that even after a job is complete, unforeseen issues can occur that can lead to claims from clients, third parties, or property owners. This is particularly crucial for construction and contracting businesses, as they may be held liable for defects or failures that emerge after the completion of their work.

Liability Insurance usually provides a broader coverage scope, but it does not specifically address claims related to completed operations. Workers' Compensation focuses on injuries to employees while on the job and does not cover third-party claims. Property Insurance protects physical assets and does not cover liabilities or operations after project completion. Thus, Completed Operations Insurance specifically fills the gap for coverage related to potential liabilities that arise from work that has already been completed.