While a business may be able to minimize the risk of lawsuits, there are other risks that can increase your liability. For example, employees handling expensive equipment and materials may decide to keep them for themselves or perform fraudulent activities. This is why it is essential to get business insurance. It will cover the costs of legal fees and damages if a customer files a lawsuit against you. Also, accidents involving your vehicles put your company at risk for auto accidents. Buying commercial auto insurance will protect you from damages, medical bills, and other costs that may arise from an accident.
General liability insurance protects your business from third-party claims and property damage. Commercial property insurance protects your business’s physical assets by covering replacement costs. Depending on your business size, general liability insurance for small concrete contractors costs between $47 and $59 per month. To protect your business from unexpected risks, consider purchasing a commercial umbrella policy. This coverage will provide a layer of protection that covers all of your needs, even when you are operating in unpredictable conditions.
Getting a general liability insurance policy is a must for any concrete contractor. Despite the fact that this coverage is typically required of non-owners, clients will ask about workers compensation insurance if you hire any employees. You can also buy additional liability insurance for equipment that is expensive. Whether it’s a vehicle or a van, a contractor’s insurance policy will protect them in case of an accident.