Concrete contractors have many responsibilities and carry even more risks than responsibilities. You have the responsibility to secure the work area, preventing what the law calls an “attractive nuisance.” You have the responsibility to get the job done when you said it would be done. Furthermore, you have the responsibility to ensure that the materials you use will remain stable and attractive for years. You have the responsibility to keep your employees and others on the site safe and secure.
But no matter how careful you are, no matter how experienced you may be, accidents do happen. And a lawsuit filed for bodily injury or property damage could be the end of your business.
Some of the most common coverages for concrete contractors are listed below, along with relevant examples of incidents that would trigger these coverages.
Commercial General Liability Insurance protects your business if you physically injure another person or cause damage to someone else’s property. Many clients require concrete contractors that they hire to carry commercial general liability insurance. Many general contractors also require concrete contractors to carry commercial general liability insurance in order to be hired as a subcontractor.
Property Damage: You accidentally spill some concrete when you are pouring it, and the concrete damages the surrounding tile work. The client requires you to pay for the cost to repair the tile.
Bodily Injury: A client trips over a trowel that is left out by one of your workers. The client injures their hip and requires surgery. They sue your business for medical expenses and lost wages from being unable to work.
Products & Completed Operations: Months after completing a job, the concrete cracks. Someone trips on the crack. They are injured and sue your company.
Workers’ Compensation Insurance provides funds for medical expenses and lost wages if one of your employees is injured or killed while on the job. Because concrete work has a higher rate of injury than many other professions, it is very important for concrete contractors to have workers’ compensation coverage. In almost all states, workers’ compensation insurance is required for companies that have employees.
One of your employees slips on a slippery surface while preparing concrete and injures his back, leaving him unable to work. Workers’ compensation insurance would provide coverage for the employee’s medical bills, rehabilitation expenses, and a portion of his lost income while he is unable to work.
Commercial Property Insurance provides protection for property that your business owns or is responsible for.
Mobile Equipment Insurance provides protection for mobile equipment that is commonly stored on client sites or outside of your business premises. This insurance covers your concrete construction equipment, such as mixers, compactors, saws, grinders, and testers, from theft and accidental damage from perils like fire, windstorm, and vehicle crashes.
On a construction site, a fire breaks out, and your mixer, which is stored onsite, is destroyed.
Commercial Auto Insurance protects your business if you or one of your employees causes injury or damage to someone else while driving a business vehicle or while driving for business purposes. It also protects vehicles owned by your business from damage or theft.
Your concrete mixing truck crashes into another vehicle on the way to a contracting job. The other driver is injured and sues your business.
The truck owned by your business is stolen from the parking lot in front of your business.