article thumbnail

Factors to Know About Crane and Rigging Insurance

Construction Marketing

Fortunately, crane and rigging insurance provide protection and compensation. However, understanding these insurance policies is key to maximizing your benefits. What is crane and rigging insurance? Other common crane and rigging insurance types include: Boom truck operator insurance.

Insurance 167
article thumbnail

Professional Liability Insurance Explained

Levelset

Professional liability insurance provides contractors coverage from financial losses that happen as a result of their errors, mistakes, or negligence. In that case, professional liability insurance would generally provide the plumber with reimbursement for legal fees, settlements, and judgments.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Common Construction Contractor Bookkeeping Issues With Accounts Payable

Contractor Bookkeeping

Accounts Payable keeps track of the bills owed to a supplier or subcontractor. A proper Construction Contractor Bookkeeping System uses the Accounts Payable feature to track unpaid bills. The bills keep coming depending on your payment schedule; you may receive the past reminder notice before the original invoice arrives.

article thumbnail

Subcontractor Insurance: 7 Policies Subs Should Consider for Their Business

Levelset

Business insurance can help mitigate occurrences or disasters that can severely impact or destroy the good standing of your business. Let’s take a look a subcontractor insurance: when it’s needed, what happens if a sub goes uninsured, and what policies subs can use to protect their businesses from risk.

article thumbnail

Errors and Omissions (E&O) Insurance Explained for Construction?

Levelset

Errors and omissions (E&O) insurance covers contractors against financial loss resulting from mistakes, errors, or claims of negligence. While general liability insurance covers against claims related to injury or property damage, errors and omissions insurance protects from lawsuits related to financial loss.

article thumbnail

What Is an Insurance Endorsement? A Contractor’s Guide

Levelset

When working in construction, your insurance policy gets issued as a fairly standard contract. At the core, you have property coverage for your tools and equipment, along with a liability component that protects your financial assets in case there’s a work-related accident or injury that you may have some responsibility for. .

article thumbnail

15 Tips For Starting Your Own Roof and Guttering Business

Construction Marketing

Insurance, liability, and workers’ compensation . Other costs: Insurance, taxes, advertising, vehicle maintenance, dumpster fees, and petrol. Limited liability company (LLC) . 10) Business bank account and credit card. 10) Business bank account and credit card. 11) Accounting. Labor costs.

Insurance 295