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Insurance for Concrete Contractors

As a concrete contractor, your responsibility is not just to market your business, make bids, sign deals, and grow your profit. It is your duty to protect your business from anything that can drain away income and assets. You have to secure it for your employees, business partners, and loyal clients.

If you are running a concrete contracting business, you definitely need certain insurance for concrete contractors like the following:

General Liability Insurance For Concrete Contractors

You and your employees are doing the job; thus, you are all accountable for the outcome. If a person trips over the concrete for lack of proper signs in the perimeter, if the work is substandard and somebody accidentally injures himself, and if the concrete is poured at the wrong places, your business is held liable for all the damages, and you are required to compensate the aggrieved parties.

When you do not have a general liability’s insurance, you will end up spending hundreds to thousands of dollars. So you will be forced to give up the business and sell your assets to cover everything. If not, whatever profit you make goes into paying than growing.

Umbrella Insurance

The general liability insurance will do, but if you are a small business and with very limited experience, you cannot expect insurance firms to give you a very high limit. Hence, you may need an umbrella insurance, which will serve as your buffer. After using the general liability insurance, the umbrella coverage kicks in, absorbing the rest of the amount (or up to the limit specified by the coverage).

Worker’s Compensation

The men who toil should be equally protected. Even if your state does not require it, you should still get worker’s compensation because, first, it helps attract the right people. Second, a lot of things can happen to your employees while on the job such as suffering from injuries or accidents. A number of them may develop work-related illnesses and even die while performing their duties. The worker’s compensation helps them since it can cover their medical expenses, burial, and loss of income, among others. It is good for you because you do not have to spend for anything except on insurance premiums.

The Need for Bonds

Contractors may also have to secure bonds even before they can do their job. These include a performance bond as a form of guarantee that you are going to complete the work according to the agreed specifications. There is also a license bond to prove you are a legitimate business, as well as a payment bond, which means you are going to pay the right salary (and incentives, if you wish) to the subcontractors and employees.

Call Us Today

You can search for the right insurance for concrete contractors all by yourself, but that would mean spending less time in your business. We do not want you to do that, so better leave the job to us. All we request is you go to our Online Quote form then answer everything truthfully. Within 24 hours, you will receive an excellent list of commercial insurance packages that can truly address your business needs.