Buy Concrete Contractors Insurance

Concrete contractors insurance is a type of insurance that specifically covers the risks and liabilities associated with the construction and repair of concrete structures. This type of insurance typically includes coverage for property damage, bodily injury, and other losses that may occur during the course of a concrete contractor's work.

It may also provide coverage for equipment and tools used in the construction process, as well as for any accidents or injuries that occur on the job site.

Some concrete contractors insurance policies also include coverage for professional liability, which can provide protection against claims of negligence or mistakes made while working on a project.

The average price of a standard $1,000,000/$2,000,000 General Liability Insurance policy for small concrete contractors ranges from $47 to $59 per month based on location, size, payroll, sales and experience.

Concrete contractors need insurance for several reasons. First and foremost, it helps to protect their business and assets. Accidents and unforeseen events can happen on a job site, and having insurance can help cover the costs associated with these incidents.

Additionally, many clients and customers will require proof of concrete contractors insurance before hiring for a job. This helps to ensure that their project is completed safely and that they are protected in case of any accidents or injuries that may occur during the construction process.

Finally, insurance can also protect concrete contractors from legal liabilities. If a worker is injured on the job, or if a customer files a lawsuit against the company, insurance can help cover the costs of legal fees and damages.

In summary, insurance is essential for concrete contractors to protect their business, meet customer requirements, and safeguard against legal liabilities.

There are several types of insurance coverage that cement contractors should invest in; the specific policies you require depend on the specific nature of your business.

The size of your operation, the location of your business, the number of people you employ, and the type of services you provide are just some of the factors that will determine exactly what type of insurance you need and how much coverage you should invest in.

However, with that said, there are some specific coverage options that all cement contractors should carry, such as:

• Commercial Property - This type of coverage protects the property that your cement contracting business operates out of, including the structure itself, the contents within it, and some of the exterior structures, such as the signage and walkways. If a tree falls on top of your business property and damage the roof, some of the siding, and some of the machinery stored inside, your commercial property insurance policy would help to cover the cost of any necessary repairs or replacements.
• Business Auto - Your personal auto insurance policy won't cover any vehicles that are used for business-related purposes, even if you're using your personal vehicle; therefore, if you use trucks, vans, or any other vehicles for your cement contracting business, you'll need to invest in commercial auto insurance. This type of policy protects third-party vehicles and other types of property that are damaged as a result of an accident the driver of your commercial vehicles cause; for example, if an employee side-swipes another car while he is driving a work truck, your commercial auto insurance would help to cover the damages of the other vehicle.
• Workers Comp - If you employ a staff of any size - whether it's 1 or 100 - you will also need to carry workers' compensation insurance - in most states. This type of policy covers and work-related injuries or illnesses that your employees may sustain. For example, if a piece of machinery malfunctions and injures a member of your crew, workers' comp will pay for any related medical expenses, as well as the wages she lost during recovery. It can also help to pay for any training she might need for a new job if she is unable to return to work as a result of her work-related injuries, and it can assist with legal defense fees, should the employee take legal action.

These are just some of the recommended cement contractors insurance policies that concrete contractors should carry; other coverage options that are highly suggested include commercial general liability, inland marine, and errors and omissions insurance, just to name a few.

When deciding on the kind of coverage to get for your business, it's always a good idea to sit with an insurance professional and discuss the benefits of each insurance policy.

You not only want to ensure the workers are safe when working but you also want to be able to protect the equipment they use while on the job. Most of the equipment utilized for a concrete project is expensive. In case any of them gets damaged, you want to make sure that you have them covered.

There are two ways you can go about protecting your equipment and they are Inland marine insurance and Builder's risk insurance. If you aren't covered by a builders risk insurance, then you can purchase Inland marine insurance. Having this type of coverage covers your property.

Builders risk insurance covers all of your businesses property on site. This type of coverage and can include anything on the project site that is owned by subcontractors.

Premises liability exposure is low at the contractor's premises since visitor access is limited. Equipment and materials stored in the open may present an attractive nuisance to children. At job sites, the contractor is responsible for the safety aspects of the entire project even after hours when there is no construction activity.

Excavation, the operation of heavy machinery, and the weight of large mixers and mix-in-transit vehicles present numerous hazards to the public and to employees of other contractors, particularly when there is structural work. Hazards increase significantly in the absences of job site control, including spotters, signage, and barriers where appropriate.

Injuries can occur from trips and falls over debris, equipment, or uneven ground. Excavation and digging can result in cutting utility cable, damaging property of the utility company and disrupting service to neighboring residences or businesses.

A significant morale hazard may be indicated by the absence of detailed procedures to determine utility locations and to research prior uses of the land. Construction sites create an attractive nuisance hazard, especially if work is close to residential areas. Wet cement in particular attracts children and vandals. Safety barriers such as perimeter fencing may be needed, especially if the excavation work is complete but other construction has not yet started.

Completed operations liability exposures can be very high due to the injury and property damage that can result from improper mixing, installation, and curing. Concrete may collapse, crack, or rapidly deteriorate. The mixture of the cement, concrete, and curing agents must meet all engineering specifications.

Quality control and full compliance with all construction, material, and design specifications is necessary. Hazards increase in the absence of proper record keeping of customer specifications, work orders, change orders, as well as inspection and written acceptance of finished work by the customer.

Environmental impairment liability exposures may arise from the waste generated in the fueling and cleaning of heavy equipment, include mix-in-transit containers. Allowing waste to accumulate either at the job site or in the contractor's yard could result in contamination of air, ground, or water supply. Collection, transportation, and disposal of waste must meet all federal and state requirements.

Workers compensation exposures can be very high. Lifting strains and crush injuries may arise at every phase of the operations. From the clearing and excavation of the site, whether in land or water, to the laying of forms, to pouring of concrete, to the drying, curing, and completion of the project, frequent and severe losses can occur. Work done above water, below ground, or at heights can result in injury or death from collapse of scaffolds or trenches, drowning, falls, or being struck by falling objects.

Other common hazards include cuts and puncture wounds from working with hand tools, foreign objects in the eye, and hearing impairment from cumulative exposure to high-decibel operations. Fine sand from the aggregate may cause eye injuries or lung disease such as silicosis. Pouring mix concrete from a mixer usually involves operations on top of the vehicle. The absence of proper guarding may indicate a morale hazard.

Property exposures at the contractor's own location are generally limited to an office and storage of material, equipment, and vehicles. Ignition sources include electrical wiring, heating, and air conditioning systems. The contractor's yard may include piles of gravel as well as large mixing or batch plants that combine the ingredients for mixing cement or concrete and load them into trucks. The exposure is greatly increased if there are large drum mix plants or batch plants involving heat and flammable bitumen or tar.

If repair work on vehicles and equipment is done in the building, fire hazards arise due to the storage and use of flammable gasoline and other fuel sources. If equipment and supplies are stored in the yard, they may be damaged due to wind, vandalism, and theft. Appropriate security measures must be in place including lighting and physical barriers to prevent unauthorized access.

Crime exposure is from employee dishonesty. Background checks should be conducted prior to hiring any employee. All orders, billing, and disbursements must be handled as separate duties and annual external audits conducted.

Inland marine exposure is from accounts receivable if the contractor bills customers for services, contractors' equipment and tools, goods in transit, installation floater, and valuable papers and records for custom project plans, clients' and suppliers' information. Construction equipment and concrete mixed in transit are heavy and difficult to transport. The training of drivers and haulers, especially with respect to the loading, tie-down, and unloading, is important to avoid damage from overturn or collision.

At the job site, hazards come from uneven terrain, from the abrasive or caustic nature of some of the materials, or from the sheer weight of the concrete as it may exceed the equipment's load capacity. Tools and equipment may be damaged by dropping, and falling from heights, or being struck by other vehicles. The concrete forms lack identifying marks and must often be left overnight or longer at a site, increasing the exposure to vandalism and theft.

Equipment may strike underground objects or utility lines during excavation or fall into mud, water, pits, or sinkholes. It may be damaged by rock, land, or mudslides or from fire due to overload. Materials and equipment left at job sites may be stolen or vandalized unless proper controls are in place.

If the insured does guniting of foundation piles, the pressurized application should be well controlled. (Gunite is a protective cement/sand coating sprayed over wire mesh onto piles.) Copies of project plans should be kept at an offsite location for easier restoration.

Commercial auto exposures have catastrophic potential. Since mix-in-transit units are among the heaviest on the road, they can cause severe injury or damage even in apparently minor collisions. These units are awkward to handle while driving or in operation and are difficult to tow if they overturn or become stuck in mud. All drivers must have appropriate licenses and acceptable MVRs. Vehicles must be maintained and the records kept in a central location.

Concrete contractors can face a range of potential liabilities that may result in legal action being taken against them. Here are some examples of reasons why concrete contractors might be sued and how insurance can protect them:

Property damage: Concrete contractors may be sued if they accidentally damage a client's property, such as a driveway or sidewalk, during construction or repair work. This type of claim is typically covered by a general liability insurance policy, which can help pay for any damages awarded to the client.

Personal injury: If someone is injured on a construction site, the concrete contractor may be held responsible for their injuries. This can include injuries caused by falling debris, slippery surfaces, or other hazards. A general liability policy can help cover the cost of any legal expenses or damages awarded to the injured party.

Errors and omissions: Concrete contractors may also be sued for errors or omissions in their work. For example, if a contractor fails to properly reinforce a concrete structure and it collapses, causing injury or property damage, they may be held liable. Professional liability insurance, also known as errors and omissions insurance, can help pay for legal expenses and damages resulting from such claims.

Breach of contract: If a concrete contractor fails to fulfill the terms of their contract with a client, they may be sued for breach of contract. This can include failing to complete work on time, using subpar materials, or not following agreed-upon specifications. Contract liability insurance can help protect contractors from these types of claims.

In summary, insurance can play a critical role in protecting concrete contractors from the financial risks associated with legal action. By carrying appropriate insurance coverage, contractors can have peace of mind knowing that they are protected from potential lawsuits and can focus on delivering high-quality work to their clients.