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Concrete Contractors Liability Insurance
Concrete contractor liability can be a very serious situation. Especially since concrete is the foundational building block of almost every structure there is. If the material turns out to be sub-par or the workmanship is shown at a later date to have been shoddy or neglectful, even the most industrious concrete contractor can be sued for damages. When that happens, the endgame is anyone's guess. If you're not prepared for a situation like this, as remote as it may appear to actually happening, it can mean a loss of a significant amount of money and even result in the closing of your business.
There is a way to mitigate the risks that you take on in your profession. It is by purchasing the best general liability insurance from a reputable company that understands the risks of your profession.
$150 A Month
Concrete Contractor Insurance - General Liability (GL)
General liability (GL) is the primary policy in your insurance coverage (which may also contain workers compensation and commercial auto policies). A GL policy covers just about anyone who participates in your business and normally covers the following costs:
- Any monetary judgment the judge assesses against you.
- Reasonable expenses incurred to examine any claims against you. This normally includes bills from your lawyer, any witnesses and costs billed by the court.
- Reimbursement to you when you have to take part in activities related to your defense.
- Court-ordered bond premium.
Specific liability coverages include:
Bodily Injury: If you are found to be liable because someone fell in your company yard, the medical expenses, doctor's visits and other costs associated with the mishap will be taken care of.
Property Damage: This kicks in when your actions have damaged the property of another and also prevented that person from using that property. The compensation covers both the loss of use and physical damage.
Product-Completed Operations: If the concrete you used crumbles afterward and causes an injury, your GL policy will pay up to the policy limits.
Personal and Advertising Injuries: If you happen to become the target of a slander or libel lawsuit related to untrue statements, copyright problems or advertising misrepresentation, your liability policy will take care of the claim.
Damages to Facilities/Space Rented to You: : If your concrete company leases or rents and office or yard for your trucks, the GL will pay for any damages to that space.
Medical Expenses: The medical expense section of your GL policy will pay the costs of a claimant who has incurred minor injuries.
The limits of your liability refer to individual as well as aggregate occurrences. The claims will not be paid after you reach the aggregate limit.