Contractors, construction workers and other professionals in this sector are no strangers to environmental, seasonal, and physical risks. The same liberties and perks that attract many people to this industry, including winters off and being free of the confines of an office, pose some significant risks. In this article, we’ll cover the most common exposures that these professionals face. In addition to sharing this information with your clients, protect each and every one of their projects with a Construction Insurance Program.
Seasonality.
Depending on where the company is located within the country, winter could mean off season for construction businesses. Ice, snow, and freezing winds do not make for the best climate to get work done outdoors, so during the winter months, the construction owner and employees will need to find side projects to maintain the stream of income. Otherwise, the business will need to factor this seasonal slowness into their yearly income budget to account for the lack of business.
Injuries.
It should come as no surprise that employee injuries are abundant in this sector. According to Insureon, no matter how hard you strive to create a safe work area, a construction site is a dangerous place full of potential hazards. This can be especially true for people unfamiliar with safety rules, such as clients who are visiting the worksite. Even veterans of the construction industry can be hurt on the job, including your employees.
Safety training and personal protective equipment (PPE) can mitigate these risks and ensure that experienced employees, novice employees, and visitors remain safe on the job site.
Equipment damage.
As any contractor or construction business owner knows, equipment is necessary for any job type. The livelihood of the business relies on the equipment running properly. If something were to break or malfunction, the business would suffer a loss of productivity and be forced to pay the repair expenses out of pocket.
For example, if you move frequently from jobsite to jobsite, equipment in transit can be covered against loss, theft, or damage by an Inland Marine Insurance policy. Additionally, be sure to train workers on how to use, maintain, and store equipment to prevent damage, says the article.
Whether your clients suffer an equipment breakdown, need to protect their businesses’ belongings and assets, or need coverage for their day-to-day operations, we have a solution for them.
