As a specialized construction company, your business operates to meet the needs of customers in unique ways. Whether it’s as a deck builder or a construction company building handicap ramps, your job is much different than that of a traditional contractor or construction business. Your business insurance needs to meet those unique risks. As you take the time to consider how you can properly protect your business, keep in mind these types of business insurance that may apply.
Protect Your Assets
At the heart of many of these types of companies is their assets. You have specialized equipment to complete the tasks you take on. Many of these specialized construction companies don’t always operate out of their own business location, but they still have assets to protect. From tools to specialized equipment, it’s important to have a property insurance policy in place that protects the items at least to replacement coverage level.
Commercial Auto Insurance
You also likely need commercial auto insurance as a part of your business insurance plan. This protects any vehicles you use to operate your company, whether there are large trucks, construction equipment or trailers. Each one needs both liability insurance and property coverage on them at least to the value of the item.
General liability insurance is a good start. It provides protection against claims made against your business as a result of negligence. It can also help you to defend against such claims if you feel they are not justified. However, depending on the scope of your projects, you may wish to extend this coverage with umbrella insurance. This provides an additional layer of insurance that can help in cases where your expertise fails to meet the specific goals of the projects.
Along with this, most specialty construction companies may also need business interruption insurance, workers compensation protection and surety bonds. Many of the policies you need can be wrapped into a BOP plan. This can help to save you money on all of your business insurance needs. Work closely with your insurance agent to determine what your risks are and which policies can help to minimize those risks substantially. Don’t operate your business without coverage to protect your business and your assets.
We’ve got you covered. Call Salzberg Insurance Agency at (877) 757-6081 for more information on Florence business insurance.