Assessing contractor insurance options in Ghana’s construction industry: a study on bridging the awareness and accessibility gap

The growth of the construction sector in Ghana necessitates a comprehensive understanding of the types and availability of insurance products designed for contractors, which is essential for effective risk management and project success. The study employed a quantitative methodology, utilising a descriptive research design to collect primary data from a diverse sample of construction contractors nationwide. The study revealed a significant disparity between the availability and actual utilisation of contractor insurance options within the Ghanaian construction industry. While contractor all-risk insurance emerged as the most recognised policy, many contractors demonstrated limited awareness of other essential insurance types as workers’ compensation. The analysis showed that smaller firms, particularly, lacked sufficient knowledge and access, highlighting firm size as a critical factor in awareness levels. The study recommends the development of more affordable and flexible insurance packages that align with the financial capacities and operational realities of contractors particularly small and medium-sized enterprises.