Construction businesses have a lot of moving parts going on all at once to stay running. You’ve got to deal with customers, team members, tools, materials, vehicles, and many more resources to get the jobs done. But on top of all of that, there’s a whole list of less visible aspects of running a construction business, like taxes, benefits, licencing, and insurance. These parts of business can get quite confusing and feel like they could bury you, but insurance doesn’t have to be one of them. We’ll break down the types of insurance that construction businesses need to make coverage seem much easier to handle and get you back to the parts of your business you do best.
What Insurance Is Mandatory For Construction Businesses?
In Pennsylvania, there are a couple types of insurance that construction companies are required to carry. These coverages all help protect employees, vehicles, customers, and the business itself.
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Workers’ Compensation Insurance: Worker’s compensation is mandatory for any business with 1 or more employees. It protects your business when an employee gets hurt on the job and you are required to pay for it.
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General Liability Insurance: This insurance covers your construction business if you were to accidentally damage a client’s property, hurt a client or employee, or cause quite a few other accidents that you are found liable for in a lawsuit.
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Commercial Auto Insurance: Every vehicle that your construction business has is required to be covered by commercial auto insurance. If you or an employee damages another car in an accident, or in some policies if you damage your own vehicle, your expenses will be covered.
What Types Of Insurance Are Reccomended For Construction Businesses?
These coverages are not required, but they can give an extra layer of protection against the unexpected. Here are some of the types of insurance that construction businesses should have:
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Employment Practice Liability Insurance: If you make a mistake with managing employees, like discrimination, mismanaging their benefits, wrongful termination, or something similar, this coverage can help cover the costs.
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Business Interruption Insurance: Sometimes things happen that cause your business to be sidelined for a time. This policy will help you cover the costs of the interruption and can help you get back going again when you are able.
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Commercial Property Insurance: Whether your business is in a large commercial workshop or just a simple pole barn, you can protect your building with this coverage
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Commercial Umbrella Insurance: Umbrella insurance protects you if a damage is too large to be covered by one of your more specific policies
Contact Strickler For Your Construction Business Insurance
At Strickler Insurance, we help construction businesses understand their coverage options and find policies that protect them without making insurance more confusing than it needs to be.
Whether you need construction business insurance, general liability, workers’ compensation, commercial auto, or commercial umbrella insurance, Strickler can help you build coverage that fits your business. To get the types of construction insurance your company needs, reach out to Strickler Insurance today.
