Workers Compensation Concerns for Construction Businesses
In the Construction Industry there are many risks your business faces in relation to the health and well-being of your employees. Carpenters typically perform construction work on both the interior and exterior of properties. Now the exposures vary depending upon the size and nature of the job. Injuries due to cutting, sawing and hammering can be frequent and severe. For this reason, it is extremely important for a Construction Business Owner to partner with an experienced independent insurance agent with whom they trust. It is equally important to have an extended conversation about exactly what it is your employees do and do not do on a daily basis.
There are many types of common injuries employees experience in the construction industry. Electrical burns can occur while installing electrical work. The potential injury due to falls from heights is higher than in other industries. If you do or do not work on roofs, than you need to tell your agent. Remember, the agent is in the business of analyzing risk. If you do not tell them exactly what you do or do not do, it is in their best interest to always assume more risk. This can cause your business to pay additional premium for workers compensation coverage. Now this mistake usually gets cleared up at the end of term audit, but regardless of whether you under or over paid for coverage, it can negatively impact your business. In a worst case scenario it can cause your business to have a claim not be covered by your carrier. For this reason, it cannot be stressed enough to take an appropriate amount of time to make sure your agent is placing your business properly for the activities your business partakes in.
Additional Insurance Programs for a Construction Company
- General Liability
- Property Insurance
- Commercial Auto
General Liability for Construction Businesses
In relation to General Liability Coverage, job-site exposures vary based on the work being done, whether the work is underground or at heights, and whether it is inside or outside. Careful attention must be paid to the type of brick as well as to the mix of the mortar being used ont he project. Strict process need to be in place to ensure all specifications are followed and changes are only made with proper permission. .
Construction Property Insurance
Commercial Property Insurance Exposures may occur both at the carpenter’s own location and out on the job site. These can include an office where there is storage of materials, equipment and vehicles. If the carpentry business owns the building then commercial property insurance should be purchased. Business personal property can also be covered for furniture and other assets that stay at the primary location.
Commercial Auto for Construction
In the construction industry, Commercial Automobile Insurance Exposures are generally limited to transporting workers, equipment and supplies to and from the job site. There is a definite need to monitor driving records of all employees who will be operating a company owned vehicle. You also need to be mindful of the age of the vehicle as well as the condition and maintenance of all vehicles used by employees.