Wednesday, May 28, 2014

Insurance Requirements

The Iowa DOT standard specifications require that the Contractor shall have liability insurance covering all construction operations and that a "Certificate of Insurance" be on file with the Contracting Authority prior to awarding a contract.  Prime contractors will "flow down" this requirement to their subcontractors as part of the subcontract agreement. The minimum coverage according to Iowa DOT SS 1107.02:

General Liability, including: Independent Contractors Contractual Liability, Products and Completed Operations

BODILY INJURY

$500,000  Each Occurance
$500,000  Aggregate

PROPERTY DAMAGE

$250,000  Each Occurance
$250,000  Aggregate

OR

BODILY INJURY AND PROPERTY DAMAGE - COMBINED SINGLE LIMIT

$750,000  Each Occurance
$750,000  Aggregate

Workmen's compensation insurance will be required according to the State of Iowa.  Railroad liability insurance may be needed when the project is on the railroad right of way.