No matter how diligent you are, accidents happen, particularly with a higher risk industry like construction. The right business insurance protects you financially when they do occur. Rather than being on the hook when equipment is damaged or stolen, having to pay for medical expenses if someone gets hurt, or being liable for the damages when a customer claims the company damaged their property, the insurance company will cover all or a portion of the costs in exchange for your monthly premiums.

Types of Business Coverage

Liability Protection

Most home and business owners get liability coverage to pay for property damage or any injuries that occur on-site. A subset of this would be workers’ compensation insurance, which specifically helps reimburse employees for their medical care and for time off work if they were to fall from a roof or step on a nail during a project. 

Commercial Auto Coverage

Because businesses tend to use their cars more often than average drivers, special insurance is needed. To reduce the risk they are taking on, many providers will review your workers’ driving histories and assess the areas they will most likely be traveling to when determining a premium.

Builder’s Risk Insurance

An unfinished structure is more vulnerable to weather and vandals than one that is fully built. As such, this coverage protects not only the half-completed project but your materials so that, if something unfortunate were to happen, you wouldn’t suffer a financial loss.

 

If you have further questions regarding coverage for your construction company, contact the agents at Barry Insurance in Texarkana, TX. As the area’s premier family-owned and -operated insurance agency for more than 55 years, their highly knowledgable team can help you shop for the most affordable and complete coverage possible from the nation’s top providers. Schedule a free quote by calling (903) 831-3493 or learn more about their products online.