Do you own a construction business? Have you already bought the right insurance policy to provide protection when a risky incident occurs? If you haven’t thought of insuring your construction business, perhaps the information discussed below will convince you it’s urgent that you be fully protected, even if you are only planning to buy the concrete agitator insurance policy.
What is construction protection insurance?
Construction businesses are involved in huge capital investment as well as manpower management. If you are engaged in a construction business your risks are higher compared to an ordinary business because workers lives are constantly exposed to all types of danger while working for you. Remember, any wrong move or negligence by one of your workers could lead to a major accident that can be expensive. Imagine you aren’t covered with construction business insurance; you will face huge financial losses. The construction protection coverage is like any insurance product where your protection extends to any incident related to construction activities.
On the other hand, a comprehensive type of protection will not only cover the expenses due to property damage and personal injuries that arise at the site, but can also offer extended protection to the business owner, the people employed, sub-contractors, customers, and even investors who entrusted some money in your construction business.
What is it important to be covered by construction insurance?
Even if you are planning to buy a concrete agitator insurance policy, it’s important you are fully covered by a construction insurance policy that will cover everything involved while using any of your heavy equipment units that could lead to accidents. For example, your concrete agitator insurance protection coverage must also cover any medical expenses due to an injury occurred while operating the concrete agitator.
In case your concrete agitator encounters major breakdown due to a malfunction, depending on your chosen concrete agitator insurance policy, the protection coverage may also include financial assistance to cover costs of repair or replacement.
What are the areas that a construction business insurance policy can cover?
There are at least four areas that a construction business insurance policy must cover and should include the following:
This is a general type of protection coverage where your business is protected while you transact business with, like customers. As part of public liability coverage, you can expect assistance from your insurer in the event of damage done to third party property or an individual which is caused by one of your workers or construction equipment used, like the concrete agitator.
As owner of a construction business you are exposed to risks such as a worker incurring an injury while at the construction site, or in the extreme case dies due to the technical problems with your concrete agitator, you can be held liable. For these unexpected incidents that are beyond your control, you need to be covered by employer’s liability; the insurance company will shoulder all expenses such as medical bills, as well as salary claims filed by your worker due to disruption from work.
If you are sole owner of a construction business, then personal accident cover must also be part protection provided when buying a concrete agitator insurance policy. Why? This type of protection extends support for any personal injury incurred while using the equipment and no one is blamed for such an incident.
Truck Insurance HQ are a team of brokers that specialize in the machinery and truck sector and can help you to make sure you have the best insurances to suit your business and cover your concrete agitator too. Call us today for obligation free quotes on 1300 815 344 or request a quote online.