Concrete contractors are essential for several jobs. These tasks include: finishing concrete slabs, concrete parking lots, curbs, constructing
foundations and just about anything you can think of that relates to concrete. These professionals are at the heart of most construction projects. If this is your line of work as a contractor or you own this type of business, ensure that you build a suitable concrete contractor’s insurance portfolio to cover your business.
Many states enforce that you carry liability insurance to obtain a license. Additionally, anyone who hires you to do concrete contracting work must ensure that you have general liability insurance. Nonetheless, make sure you are carrying it with you upon hire.
Liability insurance protects your firm from unfortunate financial loss in the event of a lawsuit. It is essential that you have the right types of coverage. An insurance agent will most likely speak to you about the following:
Commercial general liability insurance: This type of insurance cover many of the liability exposures you face as a concrete contractor. It protects property damage and injuries that you may suffer. It also protects you if you or your workers are the cause of an injury or property damage. Your client will require that you carry a particular amount of liability coverage and that you name them as additionally insured on your policy for the duration of the project.
Commercial auto liability insurance: In this industry, you will most likely have a company vehicle or an inventory of vehicles such as cement mixers and other heavy trucks. It is a law requirement for each of these vehicles to be covered with commercial auto insurance. These large, heavy vehicles can cause a lot of damage or significant injuries. Additionally, it is recommended that you purchase high levels of liability insurance.
Umbrella insurance coverage: Umbrella insurance provides you with extensive liability coverage at a reasonable price. Umbrella insurance can increase of the various liability coverage types. It will intervene when you have reached limits with other policies.