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9 Types of Insurance You Need to Protect Your Contractor Business

Construction Marketing

Between the potential for accidents and injuries on the job site and the risk of lawsuits, it’s important to have insurance to protect yourself from financial losses, but what kind of insurance do you need? Here’s an overview of the most important types of insurance for contractors. General Liability Insurance.

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What is Experience Modification Rate (EMR), and How Does it Impact Prequalification?

Safety Services Company

Insurance companies use the number to assess the cost of injuries and future risks. Lowering your EMR is important, as you can greatly reduce the amount you pay for workers’ compensation coverage. Your company has filed one or more workers’ compensation claims. you will pay about 20% more for insurance. Calculating EMR.

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Empowering the workforce through digital transformation

Autodesk Construction Cloud

Digital tools such as project management software can ease the admin burden of additional safety requirements the workforce is facing. Showcasing this ability to insurance providers can help reduce insurance premiums and allow builders to divert funds to other more pressing issues such as worker compensation.

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Construction Business Owner Blogs

Construction Business Owner

SOFTWARE |. INSURANCE |. Software & Technology. A safe work environment is one of the most straight forward ways to decrease workers compensation expenses. Fewer accidents also mean lower insurance premiums, which mean lower labor costs. Is There No Free Lunch or Construction Software? STRATEGY |.

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Job Order Contracting Guide

Job Order Contracting

Labor rates are for direct labor, without overhead and profit, however include fringe benefits and allowances for Social Security and Medicare taxes, worker’s compensation, unemployment insurance and employee benefits. Payroll taxes and workman’s compensation are included in the labor rates. copyright of CSI.

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Construction Business Owner Blogs

Construction Business Owner

SOFTWARE |. INSURANCE |. Software & Technology. Considering New Accounting Software? The Best Time to Go Live is… » Why Construction-Specific Accounting Software Costs More than Generic Accounting Software. I was doing some research on construction accounting softwares and came across your entry.

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The pros and cons of becoming a subcontractor

Fieldwire

You’ll need to purchase your own health insurance and you won’t receive paid sick or vacation days. Licensing and insurance as a subcontractor are similar to that of a general contractor. If you decide to go freelance, you almost certainly won’t receive benefits through an employer like you would as working for a general contractor.