Concrete Contractors Insurance Coverage and Exclusions

Concrete contractors often take on most of the responsibility in construction projects, from installing the foundation, walls, and floors, these contractors are vital to any construction project.

Concrete contractors also perform work with very tiny margins for error and liability is always an issue regardless of the size or complexity of the project.

On top of being liable for hundreds of thousands of dollars’ worth of materials, concrete contractors regularly face complaints, lawsuits, and other liabilities.

Concrete contractors must take on insurance to protect their business and workers. Read below on what standard concrete contractors insurance provides and some of the exclusions involved.

Concrete Contractors Insurance

A concrete contractors insurance is required to conduct any type of concrete work, including installing foundations, finishes, deliveries, and more. Although some states may not have it mandatory to have insurance for the business, it is required to ensure that your business is protected.

Depending on where you shop for concrete contractor’s insurance, the packages and policies vary. However, there are many commonalities between which form the main part of a concrete contractor’s insurance policy. These are the following:

1. General Liability – this covers property damage and bodily damage to third parties caused by concrete work and installation
2. Worker’s Compensation – this is mandatory in almost every state and protects from work-related injuries by covering medical fees and lost wages due to injured employees
3. Commercial Property – this is optional and covers the property and machinery inside the building you’re located in. 
4. Commercial Auto – this is optional and covers company vehicles, such as trucks, vans, and concrete mixers. 

Concrete contractor’s insurance protects from all types of liabilities and accidents and is essential to keep a business supported and safe.

Exclusions

It’s important to understand the exclusion that would apply in a concrete contractor’s business and what most policies don’t cover. Depending on the type of work you do, some exclusions may make you ineligible for the majority of the work you do.

For example, if your company is involved in installing house pads in new residential homes but your policy excludes foundation work, your insurance will not approve a claim for the house pad. It’s important to read the exclusions first and not discover them during the claim process. Read below on some of the typical exclusions which can be applied to your policy. 

1. Asbestos – a very common exclusion on concrete policies is excluding the work required to remove asbestos as well as any liability claims from asbestos health effects
2. Professional Liability – another common exclusion is the exemption of professional services required to conduct the work, such as engineering review, reports, and inspections
3. Foundation Work – as mentioned above, some exclusions are applied to the foundation work, which involves all footings, beams, pilings, and supports

Knowing the exclusions applied to your concrete contractor’s insurance policy is important as in case of a liability, your insurance claim may be denied. When looking for a concrete contractor’s insurance policy for your business, make sure to review in detail your insurance policy when and all the exclusions applied to it. Read more about concrete contractor insurance cost and its coverages to ensure your policy is tailored based on your business’ needs.