Contractors Risks Are Growing

Construction risks are genuine, and no one knows that better than the owners and managers of those in the construction industry. The work involved in the construction business encompasses many different occupations and tasks.

Consider this remarkable fact; 40% of small businesses (including construction companies) do not re-open after a significant loss. If your construction company is going to thrive, you will need to manage your risk, which includes having the right insurance program. While construction insurance involves many different kinds of insurance, we wanted to identify three that are critical to your success.

Key Contractors Insurance Coverage

Workers’ compensation is a no-fault system of benefits provided to workers who have job-related injuries. If your company has employees, you are required by law to buy workers’ compensation insurance. Your employees should be covered for any work-related injury or illness. Sole proprietors with no employees, and approved self-insureds are not required to carry workers’ comp insurance.

General liability for contractors covers your legal liability obligations if your firm or employees cause damage or injury to third parties. If a third party (client or other) alleges bodily harm, injury, or property damage, and you don’t have general liability coverage, your construction business assets could be seized to pay the judgment. General Liability Insurance offers the peace of mind that your construction business will have the necessary funds to continue even when faced with a costly claim.

Owned, leased or rented equipment is the lifeblood of your business. Having your tools and equipment insured will ensure that when a loss occurs, you will have the resources to keep operating. You need to replace tools and equipment quickly, and a well-designed property program can be there for you.

We offer contractor policies for every type of project

  • Property
  • Builders risk insurance and course of construction
  • Liability insurance
  • General liability insurance
  • Contractor insurance
  • Commercial auto
  • Umbrella
  • Workers’ compensation
  • Railroad protective
  • Equipment insurance
  • Contractor bond

An agency of professional agents, multiple insurance carriers and nearly 100 years of collective industry experience: DSM offers it all. Our agency has established strong professional relationships with reputable, financially-secure insurance companies. Our staff takes the time to decipher some of the complicated industry specifics of your policy, answer your questions, and make sure you get the coverage you need. One agency that works with many different insurance carriers to deliver the right policy at the right price is powerful. Imagine what DSM can accomplish for you, giving you more of everything you need and deserve from an insurance agency.