As a masonry contractor, you understand the concept of building a solid foundation. It’s important to take that advice and apply it to the business and financial aspect of your business. From a sole proprietor to a large corporation, masonry contractor insurance is one of the fundamentals of your business foundation.
There are some insurance policies you absolutely need, and some which merit serious consideration in protecting your business. The foundation of a masonry insurance package must have General Liability insurance. General Liability insurance covers against claims from the operations of the business, after a job is completed, liability for customer injury or damages in the showroom or warehouse, and personal & advertising injury. Property Insurance is an important piece of the masonry contractor’s insurance package. Often, masonry contractors operate their businesses from a store front which may serve a dual purpose; a showroom to display the stock and a warehouse to store the inventory. Property Insurance will protect the hard assets of the business like furnishings and equipment whether leased or owned. Due to the heavy lifting and nature of the work, knee and back injuries are prevalent. Therefore, if a masonry contractor has any employees, Workers' Compensation is a must. Your agent and the state department of insurance will help you determine coverage for your Worker’s Compensation insurance.
Ask your agent for specific options for covering tools needed to conduct your masonry contractor’s business. Check on plate glass and signage coverage if you have a store front. In addition, loss of use insurance, also known as loss of income, should be discussed and added if necessary. Make sure to have a good commercial vehicle policy in place for your company’s vehicles.