Montana Blasting And Drilling Contractors Insurance Policy Information
Montana Blasting And Drilling Contractors Insurance. Whether you demolish buildings, build new infrastructure, or you provide any other services that involves blasting explosives, you have a lot of responsibilities on your shoulders.
Blasting contractors use a variety of explosives to break up rock for excavation and tunneling prior to construction or well drilling. Before blasting, the contractor assesses any adjacent structures for condition and control of the jobsite to protect persons and property.
Holes are bored into the rock and filled with explosive materials. While dynamite was previously the explosive of choice, ammonium nitrate/fuel oil (AFNO) is now used for most blasting projects. Once detonated, the rock collapses and the rubble is removed.
The process may need to be repeated, as not all unwanted rock may be broken up on the first explosion. Blasting contractors must be licensed, and typically, each individual project requires local or MT state approval as well.
Some blasting contractors handle implosion projects in which the explosive charges are placed so the structure collapses into itself for easier cleanup and removal.
Your line of work involves working with dangerous tools, heavy machinery, and falling objects; in other words, blasting explosives contractors are exposed to serious dangers.
If something goes wrong, you, your employees, and anyone who is in the general vicinity could at risk of serious injuries. In addition injuries, just like any other business owner, as a blasting explosives contractor, there are several other liabilities that you could face.
While always go the extra mile to ensure that you are using the highest quality tools and equipment and that you and your crew are taking all of the necessary precautions, you never know when something could go wrong.
In the event that a mistake does happen, you could be looking at some pretty steep expenses. To protect yourself, your employees, your clients, and anyone else that may be impacted by errors that are related to your business, investing in the right type of commercial insurance is an absolute must.
But what kind of Montana blasting and drilling contractors coverages are needed? For more information, keep on reading.
Montana blasting and drilling contractors insurance protects your contracting business from lawsuits with rates as low as $117/mo. Get a fast quote and your certificate of insurance now.
Why Do MT Blasting And Drilling Contractors Need Insurance?
As a blasting explosives contractor, you are liable for many of the same risks that business owners in all industries are responsible for; however, you are also liable for a number of risks that are unique to your particular industry.
An error could be made when you're demolishing a building and a third-party in the area could be injured. A piece of equipment could malfunction and an employee could suffer a work-related injury. A piece of heavy machinery that you use for your business could be damaged or stolen.
These are just a few examples of the types of incidents that could happen, and as the owner and operator of your business, you'll be held liable for any of the related costs; medical care, property damages, and even lawsuits, for example. In other words, you could be looking at some pretty significant expenses.
The risks that are associated with operating your blasting and explosives business can be exorbitant and there's a chance that you could be looking at serious financial losses, which is why investing in the right type of commercial insurance is so important.
If something unexpected goes wrong, instead of having to pay the related expenses out of your own pocket, you insurance company will cover the costs for you. In other words, Montana blasting and drilling contractors insurance can help you avoid a devastating financial situation.
What Type Of Insurance Do Montana Blasting And Drilling Contractors Need?
The specific type of coverage that you'll need depends on several factors, including where your business is located, the specific services you provide, whether or not you employee a staff, and the size of your business.
However, with that said, there are certain types of Montana blasting and drilling contractors insurance coverage that all contractors working with explosives should carry, including:
- Commercial Property - This insurance covers the physical structure of your commercial property, as well as the contents within it from damages or losses that are caused by acts of nature, theft of vandalism. For example, if a fire were to break out in your facility, commercial property insurance would cover the cost of any repairs that may need to be made or items that need to be replaced.
- Commercial General Liability - This type of Montana blasting and drilling contractors insurance coverage protects you from third-party claims regarding personal and physical injuries, as well as property damages. It will cover your legal defense fees, as well as any compensation that a court may find you liable for.
- Workers Compensation - This type of insurance will cover the costs that are related to any work-related injuries or illnesses that your employees may suffer; for instance, if one of your employees sustains an on-the-job injury, workers' comp will cover their medical care and will reimburse them from wages that may be lost if they are unable to work while recovering from said injury.
The above are just a few of the different types of Montana blasting and drilling contractors insurance coverage that are needed with contractors using explosives.
For more information and to find out how to properly protect your MT business, speak with an experienced commercial insurance agent.
MT Blasting And Drilling Contractors' Risks & Exposures
Premises liability exposures are severe, both at the contractor's premises where explosives are stored and at any site using blasting material. Lack of proper storage on premises or improperly set explosives at the job site may result in severe bodily injury, loss of life, and major structural damage, either directly or by shock waves.
The noise from detonation may result in serious hearing impairment. The job site must be carefully evaluated before any procedure takes place, including a condition survey of neighboring structures. Occupants of buildings within the blasting area must be evacuated prior to detonation. Blasting operations may attract crowds of onlookers.
Extraordinary measures must be taken to prevent the entry of unauthorized persons to the insured's premises or job site, as explosives are highly attractive to thieves and terrorists. To control access to the job site, the contractor may employ spotters or guards, install gates and barbed wire, post signs, or contact occupants of adjacent properties directly.
Equipment and piles of rubble at job sites present attractive nuisance hazards. All equipment must be disabled when not in operation to prevent untrained individuals from using it. Fencing must be in place with appropriate warning signs to prevent trespassing. Security guards should be provided as necessary.
Personal injury exposures include assault and battery and invasion of privacy. Background checks should be conducted for any employee who will have regular contact with customers.
Completed operations exposures may be limited in barren unoccupied areas. If there are neighboring buildings or residences, claims may be brought for latent or cumulative structural damage that may not appear until long after the explosives have been detonated.
Environmental impairment liability exposures are high from the storage, use, and disposal of explosives and resulting debris from demolition projects. The release of dust or methane gases may impair air quality.
Spillage or leakage of pollutants can result in high cleanup costs and fines. The contractor must comply with all federal, state, and municipal requirements. Proper written procedures and documentation of both the transportation and disposal process is important.
Workers compensation exposure is severe due to the handling and use of explosives. An unplanned detonation can result in severe injury or death to multiple workers from fire, explosion, crushing, or suffocation. Injury or death can occur from falls from ladders or scaffolds, being struck by falling objects, or an attempted robbery.
Common hazards include slips and falls, foreign objects in the eye, hearing impairment from noise, cuts and puncture wounds from drilling, bites from insects or vermin, exposure to pollutants and weather conditions, concussions from blasting operations, and back injuries from lifting or working from awkward positions, or auto accidents during transport to and from job sites.
As operations are often conducted in remote areas, it may be difficult to transport an injured worker to a medical facility to receive prompt treatment. Dust from explosions can result in respiratory problems.
The absence of good maintenance of scaffolds, proper use of basic safety equipment, such as properly installed guards, safety belts, steel-toed shoes, as well as hearing and eye protection, and strict enforcement of safety practices may indicate a morale hazard.
Property exposures at the contractor's office may be very high. The exposure is reduced if the contractor stores only the fuses, detonating devices, and other equipment such as fencing and other items needed for job site control. If explosives are stored on premises, a severe loss may occur from explosion and fire unless there are superior controls on inventory and access to the explosives' storage areas.
Storage must be in accordance with all state and federal regulations. Local fire departments must be notified and a plan of control and evacuation should be in place. Explosives are target items for thieves and terrorists. Appropriate security measures must be in place including alarms, lighting, and physical barriers to prevent unauthorized access.
Inland marine exposures include accounts receivable if the contractor bills customers for services, computers, contractors' equipment, goods in transit, and valuable papers and records for blasting, customers' and vendors' information. Backup copies of all data should be stored off premises.
A variety of drilling equipment is necessary to set the explosives. The insured may own materials used to set up fences and blockades. If the contractor is responsible for removal of the debris, heavy equipment may be needed, such as front-end loaders. Any type of equipment may be damaged or destroyed by rock. land, or mudslides during blasting operations.
When job sites are in rural areas or on uneven ground, collision or overturn can occur. Equipment, machinery, tools or supplies left at job sites may be susceptible to theft and vandalism. Equipment should be secured and rendered inoperable when not in use.
Detonating devices, as well as explosives, may be a target for thieves or terrorists. Contractors may lease, rent or borrow equipment, or may lease out, rent or loan their owned equipment to others, which poses additional risk as the operator may be unfamiliar with operation of the borrowed item.
Crime exposure is from employee dishonesty. Background checks, including clearance from the ATF or Homeland Security, should be conducted prior to hiring any employee. There must be a separation of duties between persons handling deposits and disbursements and reconciling bank statements. A procedure must be in place to monitor who has access to the explosives and to record all activities. All items should be physically inventoried on a regular basis to prevent theft.
Business auto exposures are high. While workers, equipment, and supplies are regularly transported to and from job sites, the transport of explosives demands extreme care by drivers due to the potential for fire, explosion, collision, overturn, and theft. Drivers should have Haz Mat licenses and be fully aware of dangers involved with transporting explosives in populated areas.
The absence of detailed training and procedures in the event of overturn or spill may indicate a serious morale hazard. All drivers must have appropriate licenses and acceptable MVRs. Random drug and alcohol testing should be conducted. Vehicles must be maintained and the records kept in a central location.
Montana Blasting And Drilling Contractors Insurance - The Bottom Line
To discover the specific types of Montana blasting and drilling contractors insurance policies you'll need, and how much coverage you have along with associated costs - speak with an experienced broker that is experienced in commercial insurance.
Montana Economic Data, Regulations And Limits On Commercial Insurance
Thinking about starting a new business? Already own a successful business and want to expand your operations? Whatever the case may be, if you want to experience as much success as possible, you are going to want to ensure you choose the best possible location for your specific industry.
No matter how outstanding your goods and services may be, if the area where your business is located doesn't offer a healthy climate that will support your company, chances are you'll struggle to succeed.
If you are thinking about opening up a business in Montana, being familiar with the state's economic trends can help you determine if it's a good location for you. It's also wise to know what type of insurance you'll need to invest in so that you can plan ahead.
With that said, below, we provide an overview of the economic trends in the state of Montana, as well as the commercial insurance requirements for business owners in the Treasure State.
Economic Trends For Business Owners In Montana
As of December, 2019, the Bureau of Labor Statistics reported that the unemployment rate in the state of Montana was 3.4%; that's 0.1% lower than the national average, which was 3.5% at the same time. This rate remained steady throughout the entire 2019 fiscal year, and it is expected to either continue remaining steady or improve in coming years, according to economists.
Unemployment rate is a vital statistic for business owners, as it indicates the job market of a location, which is a strong determining factor in the success of businesses in the region.
There are several areas throughout the state of Montana that are seeing economic booms and where businesses are flourishing. Among those locations include the following cities and the areas that surround them:
- Great Falls
Several industries are seeing substantial growth in MT; however, there are particular sectors that are really thriving in Montana. Among those sectors include:
- Advanced manufacturing
- Hospitality and tourism
- Information technology
- Oil and gas production
- Retail development
If you are considering opening a business in any of the above-mentioned areas, your chances of success in Montana are favorable.
Commercial Insurance Requirements In Montana
The Office of the Montana State Auditor, Commissioner of Securities and Insurance regulates insurance in MT. Montana mandates very few forms of insurance coverage by law. They enforce worker's compensation.
Montana requires you to have worker's compensation insurance if you hire even one employee on a regular basis. This includes part-time employees, family members, minors, and immigrant employees. It is not required for independent contractors or domestic employees, though you should check to make sure any contractors you have are true contractors, and not employees.
Montana also requires all business-owned vehicles to be covered by commercial auto insurance. Other types of business insurance that business owners should carry depend on the specific industry.
Additional Resources For Construction Contractors Insurance
Learn about construction contractors insurance, including how much the premium costs and what is covered - and how business insurance can help protect your construction business from lawsuits.
- Blasting & Drilling Contractors
- Bridge Contractors
- Building Contractors
- Demolition Contractors
- Dock & Pier Contractors
- Dredging Contractors
- Foundation Layers
- General Contractors
- Sewer Contractors
- Steel Erection Contractors
- Surety Bonds
Construction contractors have substantial needs for many types of insurance coverage. Most would point to the importance of coverage for completed operations, premises liability coverage during construction operations at jobsites and professional or design errors and omissions insurance.
Such coverages can be provided only when the interests of the contractor and of the property owner are understood; particularly the contractual obligations assumed by the contractor. Next in significance is the workers compensation exposure followed by business automobile. Inland marine coverage for expensive mobile equipment, supplies, other tools of the trade and builders' risk can be vital.
Liability coverage is needed by a construction contractor in order to obtain most jobs. In addition, if a contractor wants to stay in business, it must be obtained to protect it from lawsuits due to its premises operations, off-site locations and products/completed operations exposures. Owners and contractors protective liability and railroad protective liability coverages may also be required in certain cases in order for a contractor to meets its obligations for particular jobs.
Many construction contractors do not have the usual location-specific buildings and business personal property exposures. Their business property is more mobile and, therefore, better covered with inland marine coverage forms. However, for those larger construction contractors that own buildings and/or maintain business inventory there are many coverage forms and choices available to them.
Construction contractors use their vehicles to get to and from their workplaces and jobsites. They also use vehicles to transport equipment and inventory to those locations. It is important to cover the liability of these vehicles for injury or damage they may cause, as well as to provide coverage for damage to the vehicles themselves.
Employers are required to provide coverage for injuries sustained by their employees while on the job. Construction contractors must comply with these requirements but some try to avoid them by hiring subcontractors. These subcontractors may actually operate and qualify as employees. The relationship between a contractor and its subcontractors must be carefully evaluated in order to determine if workers compensation coverage is still needed.
Minimum recommended small business insurance coverage: Business Personal Property, Employee Dishonesty, Surety Bonds, Accounts Receivable, Builders' Risk, Computers, Valuable Papers and Records, General Liability, Employee Benefits Liability, Umbrella Liability, Business Automobile Liability and Physical Damage, Hired and Nonowned Auto Liability & Workers Compensation.
Other commercial insurance policies to consider: Building, Business Income with Extra Expense, Earthquake, Flood, Leasehold Interest, Real Property Legal Liability, Contractors' Equipment, Goods in Transit, Installation Floater, Cyber Liability, Employment-related Practices Liability, Environmental Impairment Liability, Stop Gap Liability, Unmanned Aerial Vehicles (UAV) (Drones).
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Also find Montana insurance agents & brokers and learn about Montana small business insurance requirements for general liability, business property, commercial auto & workers compensation including MT business insurance costs. Call us (406) 637-8400.