article thumbnail

How to Prepare for Unexpected Risk Exposure

Construction Business Owner

Either by choice or required by contract or statute, commercial general liability (CGL), workers’ compensation, business auto and inland marine insurance (mobile equipment) are among the most common types of insurance purchased by contractors.

Risk 356
article thumbnail

Factors to Know About Crane and Rigging Insurance

Construction Marketing

For those installing properties using rigging equipment, the complexities of these job sites are even worse. Rigging insurance, also known as riggers liability insurance, provides cover against property loss or damage when on the hook of cranes. Items such as telecom equipment, generators, and air conditioning units are very expensive.

Insurance 170
professionals

Sign Up for our Newsletter

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

article thumbnail

9 Types of Insurance You Need to Protect Your Contractor Business

Construction Marketing

General Liability Insurance. This type of coverage will protect your company from various liabilities , including injury claims, and cover medical expenses. General liability also protects businesses if they cause damage to a customer’s property or if any product installations go awry, like faulty plumbing that causes leaking.

Insurance 156
article thumbnail

4 Things You Need To Know About Snow Removal Insurance

Construction Marketing

Because of their nature of work, snow removal contractors are usually exposed to many risks, which may include anything from third-party injuries to equipment. When it comes to the liabilities covered in the policy, it usually depends on the insurance provider or brokerage. Usually, more business means more liability risks.

Insurance 193
article thumbnail

Subcontractor Insurance: 7 Policies Subs Should Consider for Their Business

Levelset

“If something goes wrong, liability could hit the GC’s policy, which dilutes liability insurance limits, negatively impacts their claims history, and forces them to deal with a claim that’s not really their fault.”. Finally, the GC’s policy won’t provide any coverage for tools, equipment or vehicles.

article thumbnail

What is Equipment Floater Insurance for Contractors?

Levelset

With the amount of money you invest in tools and equipment, it’s crucial to protect those assets no matter where you go. Whichever route you choose, you can get some peace of mind by exploring and purchasing coverage through an equipment floater. . What is an equipment floater? Who needs equipment floater insurance?

article thumbnail

10 Best Insurance Companies for Construction Businesses

Levelset

They offer a full range of business insurance policies, including general liability, commercial auto, workers’ compensation, and umbrella. They provide general liability, property, subcontractor, and cyber protection. Next does not offer specialty coverage, like builders’ risk or pollution liability. Find an agent.