For concrete contractors, insurance coverage is crucial. While many people think that their personal auto insurance policy covers all their vehicles, this policy is specifically designed for businesses. It protects the property of third parties, covers medical expenses, and pays for temporary office space. You should consider using an independent insurance agent to shop for the best insurance plan for your company. A professional agent can help you build a comprehensive insurance portfolio that suits your needs. Here are some examples of the types of coverage that you should consider.
General liability coverage is a necessity for concrete contractors. This policy covers injuries incurred on the job. A concrete contractor may be responsible for the actions of construction equipment and workers. The equipment used on a construction site can also cause injuries. If a contractor is found to be at fault, he or she may be held liable for the damages incurred. This coverage covers medical expenses and lost wages for the injured worker, as well as survivor benefits for the victim’s family.
Business auto insurance covers the physical assets of the concrete contractor’s business. It pays for the costs of replacing or repairing a building or other property. During a covered event, the insurance carrier will cover the cost of repairs or replacement. The policy may also cover inventory, equipment, and machinery. It can also protect the owner’s personal property. In case of an accident, a contractor can claim damages from the accident. So, he or she should get commercial property insurance.