How to Get Insurance for your Construction Equipment
The Constructor
JUNE 25, 2022
If you’re a part of a construction company, you must realize how important it is to have reliable equipment. Without the right tools and.
9 Types of Insurance You Need to Protect Your Contractor Business
Construction Marketing
DECEMBER 27, 2021
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 Equipment Floater Insurance for Contractors?
Levelset
SEPTEMBER 16, 2022
With the amount of money you invest in tools and equipment, it’s crucial to protect those assets no matter where you go. Your base insurance policy may offer some coverage for unexpected damage to some business property, but making assumptions about the extent of coverage could lead to some financial distress. .
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Seamless Collaboration: How Contractor Connection Partners with the Insurance Industry
Contractor Connection
OCTOBER 11, 2023
In today’s ever-evolving insurance landscape, the importance of swift and efficient claim resolution cannot be overstated. Let’s embark on a thorough exploration of how Contractor Connection partners with the insurance industry, delivering a holistic, efficient, and dependable claim journey.
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How to Use Telematics to Reduce Insurance Costs
Construction Equipment
FEBRUARY 8, 2021
Insurance companies offer usage-based insurance (UBI) in the automotive industry, but heavy equipment managers will probably not find anything similar for several years. UBI uses telematics to tie insurance costs to the way a vehicle is operated. Equipment managers may still benefit from telematics…
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Finding the Equipment Management Sweet Spot
Viewpoint Construction Technology
AUGUST 29, 2018
Capturing accurate equipment information is a challenge that many contractors face. Data collection and analysis has traditionally been a manual process, and many times information would slip through the cracks leading to equipment being poorly maintained, overused or even retired before necessary.
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2017 Insurance Update
Construction Business Owner
JUNE 8, 2017
Thanks to new technology, our vehicles are getting smarter and safer every day, with programs to help manage everything from GPS navigation and blind spot detection to lane-departure notification and emergency braking.
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Business Interruption Insurance in Construction: What Contractors Need to Know
Levelset
MAY 23, 2022
One way to help protect yourself from some of these perils is by having business interruption insurance for construction. This type of insurance can help ensure that you’re able to continue operations if something happens that causes you to lose income. What does business interruption insurance cover ?
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What Is an Insurance Endorsement? A Contractor’s Guide
Levelset
AUGUST 26, 2022
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. .
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The Science of Heavy Equipment Management – Part 1: Rate Splits
Viewpoint Construction Technology
NOVEMBER 28, 2012
Burrows Professor Emeritus of Construction Engineering at Virginia Tech and is author of Construction Equipment Economics , a handbook on the management of construction equipment fleets. His ideas and methods regarding the management of heavy equipment are, in my opinion, the gospel for the industry. Owning Rates.
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Travelers Insurance Wants to Pay You to Use Procore
Construction Junkie
JULY 27, 2020
For years, I’ve been saying that using a cloud-based project management software should be a no-brainer for any construction company. Well, now at least one insurance company believes that, as well. will begin offering their customers a 20% discount of their first year of Procore , the popular construction management software.
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The Science of Heavy Equipment Management – Part 1: Rate Splits
Viewpoint Construction Technology
NOVEMBER 28, 2012
Burrows Professor Emeritus of Construction Engineering at Virginia Tech and is author of Construction Equipment Economics , a handbook on the management of construction equipment fleets. His ideas and methods regarding the management of heavy equipment are, in my opinion, the gospel for the industry. Owning Rates.
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What is Ownership Cost of an Equipment?
The Constructor
MARCH 26, 2020
Ownership cost is defined as the total cost related to the construction equipment in order to own it. This cost is irrespective of whether the.
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Sage Intacct Construction Brings Financial Management to the Cloud
Construction Junkie
OCTOBER 21, 2020
There’s no doubt that one of the most important aspects of managing a construction project is being able to quickly and easily analyze your financials. Financials can be sorted, viewed, and filtered by project type, cost code, project manager, labor & material, and self-performed work vs. subcontracted work, among many other options.
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Unit Price Construction Cost Estimating
Job Order Contracting
APRIL 26, 2022
Another requirement to enable cost visibility, transparency, and management is a locally researched line-item unit price book database, organized using CSI Masterformat. To mitigate variables, the unit price cost database should only reflect the direct costs of labor, material, and equipment, fringes, and insurance.
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Top 2023 Security Trends For Construction Site Security
Construction Marketing
JANUARY 6, 2023
Are you ready to equip your construction site with top-tier security solutions? Regarding your tools and equipment, you must be vigilant about who checks each item. You can implement RFID tracking to make the equipment logging process more accurate and efficient. Strong Security Doors And Gates.
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Empowering Project Management Professionals Through Technology—Part 2 of 5
Viewpoint Construction Technology
MAY 23, 2018
Editor’s Note: This is Part 2 of a five-part series on Construction Project Management. Last week, we talked about the complexity of construction projects and the role of the project manager in managing the processes behind them. Hire bad people to manage and build the project? Championing Construction Collaboration.
4 Positive Impacts Asset Management and Maintenance Have On Your Construction Business
Fieldwire
JULY 20, 2022
Preventive monitoring and maintenance is crucial to improving the equipment life and eventually sparing you time and cash. Some construction companies are unsure of when they purchased a certain piece of equipment, much alone when it was last serviced. This will give you an excellent notion of the time to replace equipment.
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Zurich Offers New Risk Management App for Constuction
Construction Equipment
OCTOBER 20, 2020
Zurich North America Insurance is offering a new construction app through Zurich Services Corporation designed to help its construction customers manage their risks and help improve safety, quality, and insights while on the job. Subscriptions to the Zurich Construction Solutions app are now…
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CMMS Facilities Operations Maintenance Best Management Practices
Job Order Contracting
JUNE 5, 2017
operations and record keeping, trash-recycle removal, security services, service contracts, utility charges (electric, gas/oil, water), insurance (fire, liability, operating equipment) and taxes. and its systems, equipment, and occupants/users to perform their intended function. It does not include capital improvements.
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7 Ways Construction Companies Can Keep Their Workers Safe
Construction Marketing
MAY 19, 2021
Training your employees on safety measures and equipment. You can enroll these employees or their managers in short online safety training courses for basic lifesaving and safety training. A majority of construction-related injuries occur due to a lack of proper personal protective equipment (PPE), such as helmets and gloves.
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What’s in a JOC Coefficient
Job Order Contracting
FEBRUARY 24, 2018
Employee payroll taxes, insurance, and fringe benefits. Sales tax on material and equipment costs. Project management and supervision. Office management and equipment. Interest associated with funding of equipment and payroll. Subcontractors’ overhead and profit. All waste and excess material.
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How can a digital site diary improve on-site quality control?
Lets Build
JANUARY 13, 2023
Manage your site from anywhere. Project and site managers know that being confined to an on-site office all day is a huge time constraint. Without a digital construction site diary, site managers rely on inconsistent data and not quite accurate information. Have you ever managed a project where everything went perfectly?
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From Zero to Hero: Construction Risk Management
Safety Services Company
FEBRUARY 19, 2020
IS YOUR BUSINESS EFFECTIVELY PRIORITIZING CONSTRUCTION RISK MANAGEMENT? From financial difficulties to fatal accidents, construction risk management is integral in order to secure a company’s survival and eventual growth. With that said, construction risk management should be a priority for your company. Project Risks.
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From Zero to Hero: Construction Risk Management
Safety Services Company
FEBRUARY 18, 2020
How Well Does Your Business Prioritize Construction Risk Management? From financial difficulties to fatal accidents, risk management is integral in order to secure a company’s survival and eventual growth. . With that said, construction risk management should be a priority for your company. What is Construction Risk Management?
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2020 Guide to Construction Cost Estimating
Job Order Contracting
JULY 19, 2020
2020 Guide to Construction Cost Estimating provides a road map for applying best management practices necessary to drive financial visibility and transparency. liability insurance and allowance for small tools and consumables. Liability insurance based upon local contractor rates is also added as a percentage. Equipment Costs.
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Manage Safety Risk – Get a “2 Fer”
FDR Safety
SEPTEMBER 27, 2013
If you manage for risk, you also manage for compliance. However, if you manage for compliance, you may overlook risk and hazards that result in serious or fatal injuries. Thankfully, the groundwork to manage risk within GM and our joint process had been laid. Whether safety, business risk, insured risk, market risk, etc.,
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Construction Cost Audit Fundamentals
Job Order Contracting
FEBRUARY 7, 2020
This includes pre-construction and planning phase activities including initial owner scope of work as well as all related planning, procurement, and project management processes. A construction cost audit and associated checklist are important risk management and LEAN construction planning, procurement, and project delivery tools.
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Construction Manager Charged with $8 Million Theft
Construction Equipment
MAY 25, 2018
Postal Inspection Service, Indiana States Attorney Josh Minkler has announced federal charges against six individuals, including a former regional construction project manager of a bank, who are alleged to have operated a multi-level scheme to defraud and embezzle over $8 million from a Pennsylvania-based bank and a Pennsylvania insurance company.
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Job Order Contracting Training Note – JOC Coefficient
Job Order Contracting
DECEMBER 20, 2017
home office overhead; insurance, bonds, and indemnification; project meetings, training, management and supervision; mobilization and close-out for the contract and each Project/Job Order; project office staff and equipment; profit; subcontractor’s overhead and profit; all taxes for which a waiver is not available including material sales tax (..)
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Construction Equipment
MAY 25, 2018
Postal Inspection Service , Indiana States Attorney Josh Minkler has announced federal charges against six individuals, including a former regional construction project manager of a bank, who are alleged to have operated a multi-level scheme to defraud and embezzle over $8 million from a Pennsylvania-based bank and a Pennsylvania insurance company.
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How to Successfully Plan the Risks Going Into a Construction Project
Fieldwire
JANUARY 25, 2022
Make sure workers are properly trained and equipped. Construction project managers often harp on the same string - how project success goes hand in hand with proper planning. Statistics have shown that projects with implemented proper project management practices are 2.5 According to OSHA, one in five deaths among U.S.
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Understanding the Contractor’s Job Order Contract Coefficient
Job Order Contracting
SEPTEMBER 28, 2016
Example include, general and administrative and other overhead costs, insurance costs, bonding and alternative payment protection costs, protective clothing, equipment rental, and contractor’s profit. Employee payroll taxes, insurance and fringe benefits. Sales tax on material and equipment costs. Quality control.
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Setting up a Job Order Contract Using Best Management Practices
Job Order Contracting
NOVEMBER 7, 2017
Setting up a Job Order Contract Using Best Management Practices involves a mix of strategic and operational steps including a gap analysis of current and planned outcomes. . e) Each signed task order becomes, in effect, a fixed price, lump sum contract and is managed accordingly. JOC Characteristics. (a) Planning and coordination. (a)
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Fleet Managers Motivated by Price in Telematics: LexisNexis
Construction Equipment
SEPTEMBER 3, 2014
Consumers are beginning to see the safety benefits associated with telematics as a major proof point when deciding whether or not to adopt a usage-based insurance (UBI) program, while commercial fleet managers are interested primarily in price cuts, according to the 2014 LexisNexis Insurance Telematics Study.
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Milwaukee Tool Continues to Enhance ONE-KEY Platform for Inventory Management and Tool Customization
Construction Junkie
OCTOBER 15, 2020
In 2015, Milwaukee Tool, the company famous for their large selection of red power tools, announced the release of ONE-KEY ™, a web-based mobile tool management solution. One of the key features of ONE-KEY™ is its free, online, inventory management system, which helps companies organize their entire fleet of tools onto one platform.
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Over 275 Partners Now Integrate with Autodesk Construction Applications
Autodesk Construction Cloud
NOVEMBER 6, 2023
Over 220 of these integrations now work with Autodesk Build, our comprehensive field and project management solution. Project managers can add the alwaysAI Partner Card to their Autodesk Build Insights or BIM 360 Project Home dashboards for real-time insights into productivity, operations, and safety.
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7 Ways to Improve Construction Site Safety
Levelset
NOVEMBER 10, 2022
Caught-in or between : Injuries or fatalities could occur when loose clothing gets caught in belts or pulleys while heavy equipment and foundation walls present two immovable objects that can crush or suffocate an employee. Service and update equipment regularly. Old, worn equipment and tools can malfunction or break and cause injury.
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Contractors Are Renting Rather Than Buying More Equipment.
ENR Construction
JULY 22, 2012
Contractors Are Renting Rather Than Buying More Equipment During Slow Recovery. Equipment rentals allow contractors to shift downtime risk while trimming expenses, including licensing, insurance, taxes and debt, among others. in 2011, according to the Associated Equipment Manufacturers, a Milwaukee-based industry trade group.
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Track and locate the construction equipment in a construction jobsite efficiently with Trimble Tracker RFID System
Construction Cost Estimating
OCTOBER 14, 2014
Trimble just launched the Trimble Tracker RFID System to prevent the theft of construction equipment in construction jobsites in USA. As per the report provided by National Insurance Crime Bureau (NICB), near about 1 billion dollars are lost in every year due to theft of construction equipment.
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Check Construction Vibration Impact Zone With Your Phone
Construction Equipment
SEPTEMBER 28, 2017
The Travelers insurance company has introduced a new digital tool that can help contractors identify areas around a construction site that may be negatively affected by the ground vibrations caused by heavy equipment.
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Tax spotlight turning on CIS materials claims by subbies
Construction Enquirer
JUNE 22, 2023
Joanna Gander, a senior tax advisory manager at accountancy firm Azets said: “There is a strong suspicion that millions of pounds of taxes are slipping through the net and therefore, in the last six months or so, HMRC has significantly increased its activity within the Construction Industry Scheme. “We ”
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Construction Business Owner Blogs
Construction Business Owner
APRIL 5, 2012
MANAGEMENT |. INSURANCE |. EQUIPMENT |. General Management. People Management. Equipment Management. Equipment and Services Directory. Green Construction & Construction Software » The Business of Construction Risk Management. STRATEGY |. ACCOUNTING |. SOFTWARE |. MARKETING |.
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Construction Business Owner Blogs
Construction Business Owner
SEPTEMBER 27, 2011
MANAGEMENT |. INSURANCE |. EQUIPMENT |. General Management. People Management. Equipment Management. Equipment and Services Directory. Most of these contractors are considering an investment in equipment or software, and they want to know if it can actually help their construction business.
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