Masonry Contractor Insurance Policy Information
Masonry Contractor Insurance. As a masonry contractor, your business is at risk of lawsuits as a result of an injury while working on a project. Therefore, if you want to keep your business protected from financial ruin, you must be sure to have the right insurance policies in place.
Masonry contractors install and repair brick, block, stone, veneer, and other masonry items onto and inside of buildings or structures. The end use may be structural (load-bearing) or decorative (veneer). Masonry projects may include fences, fireplaces, patios, retaining walls, siding, signs, and walkways. Masons clear and level job sites and prepare mortar (cement, sand and water mix that is placed between the bricks). The clay bricks, concrete blocks, or stone is then laid in rows to the engineers' and architects' specifications and design. Some types of structural masonry work have reinforcing rods such as rebar for additional support.
As a Mason, there'll be a number of different jobs you'll be required to do while working on a construction site. As a contractor, the safety while on the job is important. Following are some of the different insurance policies and how you can choose the right ones to secure your business. Get the masonry contractor insurance coverage that will keep you and your business protected.
Masonry contractor insurance protects your business from lawsuits with rates as low as $47/mo. Get a fast quote and your certificate of insurance now.
Below are some answers to commonly asked masonry insurance questions:
- What Is Masonry Contractor Insurance?
- How Much Does Masonry Contractor Insurance Cost?
- Why Do Masonry Contractors Need Insurance?
- What Type Of Insurance Do Masonry Contractors Need?
- What Are Masonry Contractors Risks & Exposures?
- What Does Masonry Contractor Insurance Cover & Pay For?
What Is Masonry Contractor Insurance?
Masonry contractor insurance is a type of insurance that is specifically designed for masonry contractors. This type of insurance typically includes coverage for property damage, liability, and workers' compensation.
Property damage coverage may include protection for damage to the contractor's equipment, tools, and materials. Liability coverage may include protection for injuries or damage caused by the contractor's work, while workers' compensation coverage may provide financial assistance to workers who are injured on the job.
Some masonry contractor insurance policies may also include coverage for business interruption, which can help to cover lost income if the contractor is unable to work due to an accident or other covered event.
How Much Does Masonry Contractor Insurance Cost?
The average price of a standard $1,000,000/$2,000,000 General Liability Insurance policy for small masonry contracting businesses ranges from $47 to $69 per month based on location, size, payroll, sales and experience.
Why Do Masonry Contractors Need Insurance?
Masonry contractors need insurance for several reasons. First and foremost, it protects their business in case of accidents or injuries that may occur on the job site. This includes both property damage and personal injury to the contractor or their employees. Without insurance, the cost of these incidents could potentially bankrupt a small business.
Insurance also protects contractors from liability in case they are sued by a client. For example, if a client claims that the masonry work was not completed to their satisfaction and decides to take legal action, the contractor's insurance would cover the cost of legal fees and any settlements.
In addition, many states require contractors to have insurance as a condition of obtaining a license to work. This helps to ensure that contractors have the financial resources to cover any potential incidents that may arise while on the job.
Overall, insurance is an important aspect of any contracting business, and masonry contractors are no exception. It helps to protect the business, its employees, and its clients, and ensures that the company is able to continue operating in the event of an unforeseen incident.
What Type Of Insurance Do Masonry Contractors Need?
Masonry contractors typically need the following types of insurance:
- General Liability: This covers third-party claims for bodily injury, property damage, and other related damages that may arise during the course of work.
- Workers' Compensation: This covers medical expenses and lost wages for any injuries sustained by the contractor's employees while on the job.
- Commercial Auto: This covers damage to vehicles used for business purposes, such as pickup trucks and trailers used to transport materials.
- Professional Liability: This covers errors and omissions that may occur during the course of work, such as design flaws or construction defects.
- Commercial Umbrella: This provides additional coverage above and beyond the limits of other liability policies.
- Surety Bond: This is a financial guarantee that protects the client if the contractor fails to complete the project as agreed upon.
In addition to the aforementioned types of insurance, masonry contractors may also need to consider purchasing other types of coverage depending on the specifics of their business. For example, if they work on historical or landmark buildings, they may need to have restoration insurance to cover the costs of repairing or replacing damaged materials.
If they work on large commercial projects, they may need to have project-specific masonry contractor insurance to cover any additional risks associated with the project.
It's important for masonry contractors to carefully review their insurance needs and make sure they have adequate coverage in place to protect their business and their clients. This may involve consulting with an insurance professional or seeking quotes from multiple insurance providers to find the best coverage at the most affordable price.
What Are Masonry Contractors Risks & Exposures
Premises liability exposure at the contractor's office is generally limited due to the lack of visitor access. Equipment and materials stored in the open may present an attractive nuisance exposure. Jobsite exposures will vary based on whether work being done is new construction, repair, or renovation of existing masonry, whether work is underground or at heights, and whether it is inside or outside.
Protecting pedestrians and employees of other contractors from dropped objects and trip and fall hazards is important when working at heights. Masonry materials in the open may create an attractive nuisance hazard to children who enjoy climbing.
Completed operations liability exposures can be high due to the injury and property damage that can result from improper installation and support. If a wall, column, or foundation cannot support the required load, the entire structure may shift or collapse. Careful attention must be paid to the type and material of brick and to the mix of the mortar to ensure a solid foundation.
When veneer is being applied, there must be adequate attachment points to prevent separation. Hazards increase in the absence of proper record keeping of work orders and change orders, as well as inspection and signed approval of finished work by the customer.
Workers compensation exposures can be high due to the heavy weight of masonry building materials. Lifting strains and crush injuries may arise at every phase of the operations. From the laying of the bricks, stone, or blocks, to bracing partially completed work, frequent and severe losses can occur. Work done above or below ground can result in injury or death from falls, the collapse of scaffolds or trenches, 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 exposure to dust from bricks, stone, and mortar.
Property exposures at the contractor's own location usually consist of an office and storage of material, equipment, and vehicles. Ignition sources include electrical wiring, heating, and air conditioning systems. The storage of bricks and stones is common, but these are not particularly subject to loss from either weather or fire. Pilfering by employees or others may be a problem since there are such a wide variety of uses. Some types of stone have relatively high value. Vandalism may be a problem. There should be adequate safeguards to prevent young people from trespassing.
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 exposures include accounts receivable if the contractor bills customers for services, contractors' tools and equipment, goods in transit, installation floater, and valuable papers and records for custom project plans, clients' and suppliers' information. The contractors' equipment can be employees' tools only or can include specialized lifting equipment or scaffolding.
The training of drivers and haulers, especially with respect to the loading, tie-down, and unloading of heavy masonry materials, is important to avoid overturn or collision. A potentially severe installation/builders' risk exposure may arise from inadequate bracing of partially complete walls or other structures. Poor support, especially overnight between work times, may leave the structure vulnerable to collapse from wind or rain. Equipment and supplies may be damaged by dropping and falling from heights, especially when lifting masonry to the above ground stories of buildings.
Materials and equipment left at job sites may be subject to theft and vandalism loss unless proper controls are in place. Copies of building plans should be kept at an offsite location for easier restoration.
Commercial auto exposures can be high due to the transport of bulky material that can shift and result in overturn. Scaffolding must be tied down securely. All drivers must have appropriate licenses and acceptable MVRs. Vehicles must be maintained and the records kept in a central location.
What Does Masonry Contractor Insurance Cover & Pay For?
Masonry contractors can be sued for a variety of reasons, including:
Property Damage: If the masonry work results in damage to someone's property, such as a wall collapsing or cracking, the contractor may be held liable for the damage. If the masonry work results in property damage, the contractor's liability insurance can help cover the cost of repairs or replacement.
Personal Injury: If someone is injured due to the masonry work, such as being hit by falling debris or tripping over uneven pavement, the contractor may be held responsible for the injuries. If someone is injured due to the masonry work, the contractor's liability insurance can help cover the cost of medical expenses, lost wages, and other damages.
Breach of Contract: If the contractor fails to fulfill the terms of the contract, such as not completing the work on time or not using the agreed-upon materials, they may be sued for breach of contract. If the contractor is sued for breach of contract, their liability insurance may provide coverage for any damages awarded in the lawsuit.
Negligence: If the contractor is found to have acted negligently, such as failing to follow building codes or not using proper safety equipment, they may be sued for any resulting damages or injuries. Negligence: If the contractor is found to have acted negligently, such as failing to follow building codes or not using proper safety equipment, they may be sued for any resulting damages or injuries.
It's important for masonry contractors to have liability insurance in place to protect themselves from lawsuits and potentially costly legal expenses.
Commercial Insurance And Business Industry Classification
- SIC CODE: 1741 Masonry, Stone Setting and Other Stonework
- NAICS CODE: 238140 Masonry Contractors
- Suggested Workers Compensation Code(s): 5022 Masonry NOC, 5222 Concrete Construction in Connection With Bridges or Culverts
Description for 1741: Masonry, Stone Setting, and Other Stone Work
Division C: Construction | Major Group 17: Construction Special Trade Contractors | Industry Group 174: Masonry, Stonework, Tile Setting, And Plastering | 1741 Masonry, Stone Setting, and Other Stone Work
1741 Masonry, Stone Setting, and Other Stone Work: Special trade contractors primarily engaged in masonry work, stone setting, and other stone work. Special trade contractors primarily engaged in concrete work are classified in Industry 1771; those engaged in digging foundations are classified in Industry 1794; and those engaged in the construction of streets, highways, and alleys are classified in Industry 1611.
- Chimney construction and maintenance-contractors
- Concrete block laying-contractors
- Foundations, building of: block, stone, or brick-contractors
- Marble work, exterior construction-contractors
- Refactory brick construction-contractors
- Retaining wall construction: block, stone, or brick-contractors
- Stone setting-contractors
- Stonework erection-contractors
- Tuck pointing-contractors
Masonry Contractor Insurance - The Bottom Line
To find out more about additional coverage options, as well as how much coverage you should carry for each policy, consult with an experienced agent that specializes in commercial insurance for stone masons.
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
- Cable Layers
- Demolition Contractors
- Dock & Pier Contractors
- Dredging Contractors
- Foundation Layers
- General Contractors
- Road Contractors
- Sewer Contractors
- Steel Erection Contractors
- Surety Bonds
The construction industry is a high-risk industry that requires business insurance to protect against potential losses. There are several reasons why the construction industry needs business insurance:
Liability risks: Construction projects often involve working on other people's property, which can lead to potential liability risks if any damages or accidents occur. Liability insurance helps to protect against these risks by providing coverage for any legal fees or damages that may arise.
Property damage: Construction projects can also be at risk for property damage, whether it's the company's own equipment or tools, or the property being worked on. Commercial property insurance including inland marine helps to cover the cost of repairs or replacement of any damaged property.
Worker injuries: Construction is a physically demanding industry, and accidents and injuries are a common occurrence. Wrokers comp helps to cover the cost of medical treatment and lost wages for injured workers.
Financial losses: Construction projects can be disrupted by a variety of factors, such as weather, delays, or changes in scope. Business insurance helps to protect against financial losses that may occur as a result of these disruptions.
Overall, insurance is an essential component of the construction industry as it helps to protect against a range of potential risks and losses. Without it, companies in the construction industry would be vulnerable to financial ruin and may not be able to continue operating.
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).