As a concrete or foundation contractor, you’re often one of the first to operate on a new construction site, and your work needs to hold up from start to finish. No matter how careful you are or how good a job you might do, there may be issues that occur during any phase of building or years down the road that you might be blamed for. In those types of situations, it’s necessary to have the right contractors insurance policy in place to legally and financially safeguard your business.
Builder's risk insurance is a special type of property insurance protects a builder or owner against damage that occurs to new or existing buildings that are under construction.
Commercial general liability typically provides coverage in case an injury or damage takes place on a business' property or while a business is operating. For instance, a customer could slip on the floor of your property, or an employee working at someone's home can slip and cause damage.
Tools and equipment insurance is a type of inland marin insurance that provides coverage if essential and expensive tools get destroyed or stolen. You can add this as a supplement to your insurance policy to typically cover heavy and rare equipment that can be difficult to replace and find.
The scope of your business and the typical nature of your projects will affect the specific types of coverage you need. But commercial liability is the cornerstones of a comprehensive insurance plan for many concrete and foundation businesses.
Commercial general liability is meant to protect you in cases of bodily injury to third parties or damage to property caused by your operation. Depending on the state, you may be legally required to hold this type of coverage.
Your insurance provider may also recommend the following coverages:
To get a better sense of what policies you need, complete the quote request form today. We’ll connect you with a qualified provider that will tailor a plan to your business needs at a price that fits your budget.
Something many businesses don't know is that commercial insurance carriers have preferences for which types of businesses they insure.
The problem for most business owners is that they don't know which carrier is the best fit for their business, leading to high premiums or declined applications for coverage .
The 321 LaunchPad is connected to the largest network of commercial insurers available anywhere. We match your business with a qualified insurer so you get the right coverage for a fair price.