Owning a paving company brings a wide variety of day-to-day challenges. A number of these challenges may perhaps be your responsibility to manage as they occur, whether you are at fault for what happens or not. Being a contracting company owner, you find yourself being the go-to person whenever problems need resolution. Numerous things can occur such as equipment breakdown, injuries to employees or bystanders, accidents, or even advertising or slander claims. An insurance policy that is tailored to protect your business is needed in these situations.
With regards to business insurance for pavers, black toppers, and asphalt maintenance operations such as seal coating or striping, customization is crucial. Concerning the size of your firm, where you operate, as well as the kinds of jobs you concentrate on, your challenges and business protection (insurance) needs can vary. With that said, you will have to understand that not all insurance providers can handle the insurance requirements of contractors that do paving or asphalt maintenance work. This is because not all insurance agents understand the unique needs of startups and small businesses, not to mention the different insurance needs of a paving or asphalt maintenance business.
Paving contractors just like you need to manage several things at a time. There is the company brand to preserve, advertising, marketing, and sales needs, workers to satisfy, vehicles and equipment to maintain and profits to be made. Regardless of how fantastic you are at looking after so much simultaneously, there isn’t any guarantee that you could manage every single thing that occurs. Paving contractor insurance coverage is the perfect solution for all those major and minor situations that can arise unexpectedly which may otherwise obliterate your organization instantly.
Paving liability insurance manages many of the possible unfortunate incidents that you cannot anticipate in order to avoid beforehand, such as the before mentioned injuries to a bystander, or a slander claim against you or your company. It also covers damages to property of others. However, a paving contractor business owner’s insurance policy provides you with a bundled level of business protection which may be designed to fulfill your specific needs. A business owner’s policy provides you with the equal amount of benefits and security that the general liability policy will; additionally it gives an additional amount of protection tailored for your company’s physical property and assets. The real property section of this insurance policy is designed for those occasions which you see yourself dealing with equipment breakdowns, employee dishonesty, and loss of vital computer files or building damages from a storm or other covered peril.
Paving contractor workers compensation insurance coverage is crucial insurance coverage for the organization from the moment you employ your first worker. Regardless of whether you have a secretary that schedules projects for you, or you currently have several road crews in various places all of the time, workers compensation insurance is compulsory in NY. Whenever mishaps occur to the workers, or if the employees get ill as a result of their work environment, this particular coverage will pay for an array of expenses that often surge rapidly. From medical treatment to prolonged hospital stays or perhaps disability, workers compensation will be the insurance coverage you require.
Commercial auto insurance for paving contractors is also essential risk insurance coverage that your organization requires, especially if you have several road crews driving vehicles from one job site to a different one. Even reliable drivers could find themselves in an accident if they drive routinely, and the costs associated with recovering from that may be significant. Safeguard your business from incidents a result of uninsured motorists, make sure your crew’s medical expenses are going to be paid in the event that they’re injured in a collision and make sure your company’s equipment and tools will be restored or even replaced without your company acquiring a massive financial hit. Remember, not every insurance company can insure heavy dump trucks; therefore it is imperative that you deal with an agency that is knowledgeable about this sort of risk.
Other coverage’s that may be needed in a paving operation or bonds, and excess liability or umbrella coverage to satisfy municipalities or utilities.
If you are a new or start-up contractor check out the National Asphalt Pavement Association for some significant data.
For a free quote, or just some more information, contact David at Hudson Valley Agents today!
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