Environmental Remediation Contractors Insurance Policy Information
Environmental Remediation Contractors Insurance. As an environmental contractor, the services you provide are invaluable. Your job is to remove hazardous contaminants that could pollute the environment, such as surface and groundwater, as well as soil and sediment. You might also provide consultation services that help businesses learn how to reduce their carbon footprint.
Environmental remediation contractors remove, cleanup, or control pollutants or contaminants from buildings and other structures, soil, or water. They are called in when asbestos, lead, toxic mold or other environmental hazards have been identified by an environmental consultant as not being in compliance with EPA or other agencies such as OSHA and NFPA.
The method of remediation will vary based on the particular type of pollutant or contaminant and the site where it is found. The contamination can be removed or it can be treated in place. Removal involves physically cutting out the area of contamination and disposing of it in a landfill.
The area of contamination is then replaced with new building materials or new soil. Treatment in place involves adding mitigation agents to absorb the contaminants, using plants or fungi to provide "good" bacteria to contaminated areas, or sealing off the contamination.
Given the nature of your job, there are a number of risks that could put you in jeopardy of financial trouble. In order to protect yourself from these risks, it's important that you have right environmental remediation contractors insurance policies in place.
Environmental remediation contractors insurance protects your business from lawsuits with rates as low as $57/mo. Get a fast quote and your certificate of insurance now.
Below are some answers to commonly asked environmental remediation contractor insurance questions:
- How Much Does Environmental Remediation Contractors Insurance Cost?
- Why Do Environmental Contractors Need Insurance?
- What Type Of Insurance Do Environmental Contractors Need?
How Much Does Environmental Remediation Contractors Insurance Cost?
The average price of a standard $1,000,000/$2,000,000 General Liability Insurance policy for small environmental remediation contractor ranges from $57 to $79 per month based on location, size, payroll, sales and experience.
Why Do Environmental Contractors Need Insurance?
environmental contractors are exposed to a wide variety of risks on a regular basis. You work with a number of significantly harmful contaminants, such as sewage, biohazard, and medical waste, and other harsh agents. It's your job to tend to and clean up any spills of these contaminants that have the potential to negatively impact the environment.
While your job is to help reduce the impact of harmful agents on the environment, there is a chance that you may actually end up causing contamination.
A barrel of waste could spill into a waterway, or an oversight could lead you to miss cleaning up all pollutants, which could result in damage to the environment. Should a mishap arise, you could end up facing serious financial trouble.
The cost of repairing damages, legal fees, and any compensation that you might be required to pay can be exorbitant. Paying for these costs could put you in serious financial turmoil.
That's exactly why having the right environmental remediation contractors insurance in place is so important. It protects you from the financial strain that may be associated with any accidents, damages, and lawsuits that may arise.
What Type Of Insurance Do Environmental Contractors Need?
In order to properly protect themselves, environmental remediation contractors should carry individual policies or a package of policies that offers the following coverages:
- Commercial General Liability - This type of coverage provides protection for any third-party injuries or property damage that may occur. For instance, if you or a member of your team were to damage a client's property while performing a service or if a piece of your equipment were to malfunction on a job site and injure a client or another contractor - and it was determined that you were liable, you would have to pay for any repairs or medical bills. If a lawsuit is filed against you, you would also have to pay for the legal expenses. With commercial general liability insurance, you won't have to worry about paying for these costs out of your own pocket, because your provider will pay for any expenses that you are liable for.
- Professional Liability - Also known as errors and omissions (E&O), professional liability insurance will protect you from any legal claims that someone might file against you for any errors and omissions that occurred when you provided your services. In other words, if a client claims you made a mistake - an error (negligence) - or you didn't perform a service that you said you would provide - omissions - and that error or omission caused financial harm, your professional liability coverage would help to pay for the cost of legal defense, as well as any damages that may be awarded.
- Contractor's Pollution Coverage - General liability doesn't cover all third-party bodily injuries and property damages. For instance, pollution incidents are excluded from this type of coverage. That's why you need contractor's pollution insurance. This type of coverage is designed specifically for contractors and it offers coverage for any third-party bodily injuries, property damages, cleanup, and legal defense costs that might occur as a result of any pollution that happens when environmental contractors are performing their services; things that your general liability policy doesn't cover.
- Workers' Compensation - If you employ a staff that assists you with the environmental services you provide, you'll also need to invest in worker's compensation insurance. If an employee sustains a work-related injury or illness, this type of coverage will help to pay for the cost of his or her medical expenses, lost wages, job training if he or she is unable to return to work, and more.
These are just some of the different types of coverages that environmental contractors in should invest in. Policies can be purchased individually, but packages are available that offer most of these coverages under one policy.
Environmental Remediation Contractor Risks & Exposures
Premises liability exposures at the contractor's office are limited due to lack of public access. Outdoor storage may invite vandalism and attractive nuisance hazards. Off-premises exposures are high due to the potential for damaging customers' property during the removal of old building materials and installation of new materials.
Older materials generally contain asbestos, lead, or other hazardous environmental substances. The customer's employees or members of a customer's household can be injured by tripping or falling over tools, power cords, building materials and scrap. If there is work at heights, falling tools or supplies may cause damage and injury.
Completed operations exposures are generally high. Improper removal or mitigation can result in contaminants growing, causing additional damage to property or humans, and resulting in fines to clients.
Environmental impairment exposures are very high due to the removal, transport, and disposal of contaminants and old materials removed from structures or soil. Disposal procedures must adhere to all EPA and other regulatory standards. Proper written procedures and documentation of all processes is important. Training and supervision of employees are critical.
Professional liability exposure and errors and omissions exposure can be extensive if the contractor offers environmental counseling services due to the potential for environmental damage from ineffective advice or incorrect testing practices. All procedures must be followed and regular inspections conducted. Documentation must be clear, with changes marked and authorizations signed by both the consultant and the customer.
Customers can suffer financial loss if they must pay fines or cease operations due to a government order regarding environmental concerns. In addition, release of pollutants can cause property damage to surrounding residential or business areas.
Workers compensation exposure onsite is from office and laboratory operations. Repetitive motion injuries from use of office equipment can be reduced with ergonomically designed workstations. When there is a laboratory on premises, employees are exposed to pollutants, toxins or known carcinogens. Employees should have appropriate safety gear while working in laboratories and around any contaminants or pollutants brought onsite.
The exposures at job sites are significant. Workers are exposed to asbestos, lead, mold, and other contaminants during remediation work. Common injuries include eye, nose, throat, skin, and lung irritants, vapors, fumes, and toxins from adhesives, coatings, and solvents. Effects may be immediate or cumulative over a long period of time.
When work is done on ladders or scaffolds, severe injury or death can occur from falling, being struck by falling objects, or adverse weather conditions. The danger is reduced if there is good maintenance of scaffolds, proper use of basic safety equipment, such as properly installed guards, steel-toed shoes, and eye protection, and strict enforcement of safety practices. Appropriate safety clothing and decontamination areas must be provided for all workers.
Property exposure at the contractor's premises is limited to an office and storage of equipment, materials and vehicles. Ignition sources include heating units, electrical wiring, wear, and overheating of equipment. If repair work on vehicles and equipment is performed in the building, fire hazards increase. Customers' property may be stored on the contractor's site during the remediation process. If there is a testing laboratory on premises, chemicals must be separated from combustibles and stored in fireproof cabinets.
Crime exposure is limited to employee dishonesty. Employee theft of a client's property may occur while on a client's premises or while the client's goods are on the contactors premises. Background checks, including criminal history, should be conducted on all employees handling money or with access to a client's property. All ordering, billing and disbursement should be handled as separate duties with reconciliations occurring regularly.
Inland marine exposures include accounts receivable if the contractor offers credit to customers, computers, contractors' equipment and tools, installation floater, and valuable papers and records for customers' and suppliers' information. Equipment may include hand tools, ladders, and scaffolding. The materials awaiting installation are subject to loss or damage by moisture, by employees or other contractors, vandalism and theft. Valuable papers and records also include required licenses and documentation of contracts and project approvals. All records should be duplicated, with copies stored off-site.
Commercial auto exposures include the transportation of workers, equipment, and materials to and from job sites and transportation of hazardous waste to approved landfills. Collision or overturn during transport can result in contaminants being spread over a wide area. All drivers must be well trained and have valid licenses for the type of vehicle being driven. MVRs must be run on a regular basis. Random drug and alcohol testing should be conducted. Vehicles must be well maintained with records kept in a central location.
Drivers may need a hazardous materials "hazmat" endorsement to transport some chemicals used. Hazards increase if the insured lacks spill control procedures and equipment.
Commercial Insurance And Business Industry Classification
- SIC CODE: 1799 Special Trade Contractors, Not Elsewhere Classified
- NAICS CODE: 562910 Remediation Services
- Suggested ISO General Liability Code(s): 95630
- Suggested Workers Compensation Code(s): 5472, 5473
1799: Special Trade Contractors, Not Elsewhere Classified
Division C: Construction | Major Group 17: Construction Special Trade Contractors | Industry Group 179: Miscellaneous Special Trade Contractors
1799 Special Trade Contractors, Not Elsewhere Classified: Special trade contractors primarily engaged in construction work, not elsewhere classified, such as construction of swimming pools and fences, erection and installation of ornamental metal work, house moving, shoring work, waterproofing, dampproofing, fireproofing, sandblasting, and steam cleaning of building exteriors.
- Antenna installation, except household type-contractors
- Artificial turf installation-contractors
- Awning installation-contractors
- Bath tub refinishing-contractors
- Boring for building construction-contractors
- Bowling alley installation and service-contractors
- Cable splicing service, nonelectrical-contractors
- Caulking (construction)-contractors
- Cleaning building exteriors-contractors
- Cleaning new buildings after construction-contractors
- Coating of concrete structures with plastics-contractors
- Core drilling for building construction-contractors
- Counter top installation-contractors
- Dampproofing buildings-contractors
- Diamond drilling for building construction-contractors
- Epoxy application-contractors
- Erection and dismantling of forms for poured concrete-contractors
- Fence construction-contractors
- Fire escape installation-contractors
- Fireproofing buildings-contractors
- Forms for poured concrete, erection and dismantling-contractors
- Gas leakage detection-contractors
- Gasoline pump installation-contractors
- Glazing of concrete surfaces-contractors
- Grave excavation-contractors
- House moving-contractors
- Insulation of pipes and boilers-contractors
- Lead burning-contractors
- Lightning conductor erection-contractors
- Mobile home site setup and tie down-contractors
- Ornamental metalwork-contractors
- Paint and wallpaper stripping-contractors
- Plastics wall tile installation-contractors
- Posthole digging-contractors
- Sandblasting of building exteriors-contractors
- Scaffolding construction-contractors
- Service and repair of broadcasting stations-contractors
- Service station equipment installation, maintenance, and repair-
- Shoring and underpinning work-contractors
- Spectator seating installation-contractors
- Steam cleaning of building exteriors-contractors
- Swimming pool construction-contractors
- Television and radio stations, service and repair of-contractors
- Test boring for construction-contractors
- Tile installation, wall: plastics-contractors
- Tinting glass-contractors
- Wallpaper removal-contractors
- Weather stripping-contractors
- Welding contractors, operating at site of construction
- Window shade installation-contractors
Environmental Remediation Contractor Insurance - The Bottom Line
To find out more about the different types of insurance you should invest in and how much coverage you should carry, speak to a reputable agent that is experienced with environmental remediation contractors insurance. There are several factors that need to be taken into consideration to determine how you can best protect yourself, your clients, your employees, and your business.
Types Of Small Business Insurance - Requirements & Regulations
Perhaps you have the next great idea for a product or service that you know will appeal to your local area. If you've got a business, you've got risks. Unexpected events and lawsuits can wipe out a business quickly, wasting all the time and money you've invested.
Operating a business is challenging enough without having to worry about suffering a significant financial loss due to unforeseen and unplanned circumstances. Small business insurance can protect your company from some of the more common losses experienced by business owners, such as property damage, business interruption, theft, liability, and employee injury.
Purchasing the appropriate commercial insurance coverage can make the difference between going out of business after a loss or recovering with minimal business interruption and financial impairment to your company's operations.
Insurance is so important to proper business function that both federal governments and state governments require companies to carry certain types. Thus, being properly insured also helps you protect your company by protecting it from government fines and penalties.
Small Business Insurance Information
In the business world, there are many risks faced by company's every day. The best way that business owners can protect themselves from these perils is by carrying the right insurance coverage.
The The National Association of Insurance Commissioners (NAIC) is the U.S. standard-setting and regulatory support organization. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer review, and coordinate their regulatory oversight.
Commercial insurance is particularly important for small business owners, as they stand to lose a lot more. Should a situation arise - a lawsuit, property damage, theft, etc. - small business owners could end up facing serious financial turmoil.
According to the SBA, having the right insurance plan in place can help you avoid major pitfalls. Your business insurance should offer coverage for all of your assets. It should also include liability and casual coverage.
Types Of Small Business Insurance
Choosing the right type of coverage is absolutely vital. You've got plenty of options. Some you'll need. Some you won't. You should know what's available. Once you look over your options you'll need to conduct a thorough risk assessment. As you evaluate each type of insurance, ask yourself:
- What type of business am I running?
- What are common risks associated with this industry?
- Does this type of insurance cover a situation that could feasibly arise during the normal course of doing business?
- Does my state require me to carry this type of insurance?
- Does my lender or do any of my investors require me to carry this type of policy?
A licensed insurance agent or broker in your state can help you determine what kinds of coverages are prudent for your business types. If you find one licensed to sell multiple policies from multiple companies (independent agents) that person can often help you get the best insurance rates, too. Following is some information on some of the most common small business insurance policies:
|Business Insurance Policy Type||What Is Covered?|
|General Liability Insurance||What is covered under commercial general liability insurance? It steps in to pay claims when you lose a lawsuit with an injured customer, employee, or vendor. The injury could be physical, or it could be a financial loss based on advertising practices.|
|Workers Compensation Insurance||What is covered under workers compensation insurance? This type of insurance protects a business and its owner(s) from claims by employees who suffer a work-related injury, illness or disease. Workers comp typically provides the injured employee with benefits to cover medical expenses, a portion of his/her lost wages, rehabilitation costs if applicable, and permanent partial or permanent total disability.|
|Product Liability Insurance||What is covered under product liability insurance? I pays an injured party's settlement or lawsuit claim arising from a defective product. These are usually caused by design defects, manufacturing defects, or a failure to provide adequate warning or instructions as to how to safely use the product.|
|Commercial Property Insurance||What is covered under business property insurance? General liability policies don't cover damages to your business property. That's what commercial property insurance is for. It protects all of the physical parts of your business: your building, your inventory, and your equipment, giving you the funds you need to replace them in the event of a disaster. If you work from home, you might consider a Home Based Business Insurance policy instead.|
|Business Owners Policy (BOP)||What is covered under a business owners policy (BOP)? This is a policy designed for small, low-risk businesses. It simplifies the basic insurance purchase process by combining general liability policies with business income and commercial property insurance.|
|Commercial Auto Insurance||What is covered under business auto insurance? This type of insurance covers automobiles being used for business purposes. This could include a fleet of business-only vehicles or a single company car. In some cases it might cover your car or your employee's car while they're being used for business. These policies have much higher limits, ensuring you can cover your costs if one of these vehicles gets into an accident.|
|Commercial Umbrella Policies||What is covered under commercial umbrella insurance? This type of policy is a sort of "gap" insurance. It covers your liability in the event that a court verdict or settlement exceeds your general liability policy limits.|
|Liquor Liability Insurance||What is covered under liquor liability insurance? It covers bodily injury or property damage caused by an intoxicated person who was served liquor by the policy holder.|
|Professional Liability (Errors & Omissions)||What is covered under professional liability insurance? This type of business insurance is also known as malpractice oe E&O. It covers the damages that can arise from major mistakes, especially in high-stakes professions where mistakes can be devastating.|
|Surety Bond||What is covered under surety bonds? Bonding is a contract where one party, the SURETY (who assures the obligee that the principal can perform the task), guarantees the performance of certain obligations of a second party, the PRINCIPAL (the contractor or business who will perform the contractual obligation), to a third party, the OBLIGEE (the project owner who is the recipient of an obligation).|
Who Needs General Liability Insurance? - Virtually every business. A single lawsuit or settlement could bankrupt your business five times over. You might also need this policy to win business. Many companies and government agencies won't do business with your company until you can produce proof that you've obtained one of these policies.
Business Insurance Required by Law
If you have any employees most states will require you to carry worker's compensation and unemployment insurance. Some states require you to insure yourself even if you are the only employee working in the business.
Your insurance agent can help you check applicable state laws so you can bring your business into compliance.
Other Types Of Small Business Insurance
There are dozens of other, more specialized forms of small business insurance capable of covering specific problems and risks. These forms of insurance include:
- Business Interruption Insurance
- Commercial Flood Insurance
- Contractor's Insurance
- Cyber Liability
- Data Breach
- Directors and Officers
- Employment Practices Liability
- Environmental or Pollution Liability
- Management Liability
- Sexual Misconduct Liability
Whether you need any or all of these policies will depend on the results of your risk assessment. For example, you probably don't need an environmental or pollution policy if you're running an IT company out of a leased office, but you would need data breach and cyber liability policies to fully protect your business.
Also learn about small business insurance requirements for general liability, business property, commercial auto & workers compensation including small business commercial insurance costs. Call us (855) 767-7828.
Additional Resources For Contractors & Home Improvement Insurance
Learn about small business contractor's insurance, including what it covers, how much it costs - and how commercial insurance can help protect your contracting business from lawsuits.
- Air Conditioning Systems Installation Repair
- Appliance Repair & Service
- Blacksmith & Metal Workers
- Boat Repair & Dry Docks
- Boiler Contractors
- Builders Risk
- Building Cleaning & Maintenance Services
- Cabinet Installer
- Cable And Satellite TV Installer
- Chimney Sweep
- Cistern Contractors
- Contractor Liability
- Curtain Cleaners
- Deck Builders
- Door And Window Installers
- Dryer Vent Cleaning
- Drywall Contractor
- Electrical Contractors
- Environmental Remediation Contractors
- Fence Installation
- Fire Sprinkler Contractors
- Fire & Water Restoration Contractors
- Flooring Contractor
- Furniture Repair
- Garage Door Installer And Repair
- General Contractors
- Glass Contractor
- Glazier Insurance
- Gutter Installation And Repair
- House Cleaning
- HVAC Contractor
- Insulation Contractor
- Janitorial Cleaning Services
- Lawn Care
- Lawn Irrigation Sprinkler System Installation
- Oil And Gas Well Drilling Contractors
- Paperhanging Contractors
- Plastering And Stucco Contractor
- Pressure Washing Contractors
- Propane And Fuel Dealers
- Rug, Upholstery & Carpet Cleaning
- Sandblasting Contractors
- Security Alarm
- Septic Tank Cleaning
- Siding Contractor
- Sign Installation & Repair
- Solar Panel Installers
- Snow Plow
- Stone And Tile Installer
- Surety Bonds
- Swimming Pool Contractor
- Swimming Pool Service And Maintenance
- Tool Grinding And Repair
- Tree Surgeon
- Tree Trimming
- Tank Cleaners
- Upholstery Shop
- Waste Haulers & Garbage Collection
- Water Well Drilling
- Welding Contractor
- Wildlife & Pest Control
- Window Cleaning
A contractor that wants to begin or stay in business, liability coverage must be obtained for the premises or operations, off-site locations and products/completed operations exposures. These coverages may be included as a part of a businessowners policy (BOP) or purchased in a commercial general liability (CGL) policy. Owners and contractors protective liability and railroad protective liability coverages may also be required in certain cases in order for a contractor to obtain a particular job.
Physical damage coverage for tools, supplies and equipment, both on and off the contractor's premises, is a concern. Liability exposures at the premises of the contractor, and at the premises of the contractor's customer, must be properly addressed along with completed operations. Business insurance is very important as is workers compensation insurance protection for employees.
Contractors may work under a general contractor as a subcontractor in larger construction projects - like a new commercial site or residential subdivision. They can work on smaller projects directly with a home owner, usually specializing in renovations or remodels.
In business insurance speak, often called 'artisan contractors' or 'casual contractors', they are involved in many aspects of construction and contracting work – and include various trades and skills. Carpenters, painters, plumbers, electricians, roofers, tree trimmers, landscaping are just a few examples. They may do roofing, fencing, drywall, tile work and many other trades that involve skilled work with tools at the customer's premises.
An artisan contractor performs a single trade or job, and each has its own specialized liability needs with its own exposures to risk and accidents. Contractors liability insurance can offer coverage for bodily injury, property damage, advertising injury and medical payments.
Most artisan contractors should have commercial general liability at the very least, but many need broader coverages - like an umbrella to increase their limits of liability, inland marine policy to protect their tools, workers compensation if they have employees, and even commercial auto if they use vehicles for business purposes.
Minimum recommended small business insurance coverage: Business Personal Property, Employee Dishonesty, Contractors' Equipment and Tools, General Liability, Employee Benefits Liability, Umbrella Liability, Automobile Liability and Physical Damage, Hired and Non-owned Auto & Workers Compensation.
Other commercial insurance policies to consider: Building, Business Income with Extra Expense, Earthquake, Flood, Leasehold Interest, Real Property Legal Liability, Accounts Receivable, Builders Risk, Computers, Goods in Transit, Installation Floater, Valuable Papers and Records, Cyber Liability, Employment-related Practicesand Stop Gap Liability.