Paving asphalt roads, driveways and parking lots come with risks of property damage and injuries to third parties. A lot can go wrong during planning, levelling, formwork, transporting, mixing and laying of asphalt. Each of our asphalt contractor insurance packages is tailored to your company’s exact business needs.
Asphalt Contractor Insurance Coverages
Insurance packages for asphalt contractors usually include:
Commercial General Liability Insurance – a CGL policy as part of an asphalt contractor’s insurance plan can provide coverage for medical expenses, property repair or replacement costs as well as legal expenses coverage for lawsuits alleging personal injury, property damage, libel & slander and false advertising. Legal expenses can include lawyer’s fees costs, out-of-court settlements and awards for damages.
Example 1: While digging up a homeowner’s driveway, your excavator driver accidentally crashes into the garage door and the brick façade surrounding it, causing thousands of dollars in damage and repair costs.
Example 2: Asphalt is improperly mixed and doesn’t set properly, causing a commercial parking lot to have to be replaced and leading to a delayed opening and lost sales for the client who decides to sue.
CGL insurance could cover the repair costs and all legal expenses for resulting lawsuits.
You may also need to consider an extension to your CGL policy to cover you for sudden & accidental pollution liability coverage or separately purchase fulsome standalone contractors pollutions coverage in case of spills and the resulting cleanup costs and potential regulatory fines.
Umbrella Liability Insurance – provides coverage for costs of a claim that exceed an underlying CGL policy’s limits. For Asphalt contractors that work on public and commercial projects with major liability exposures, this is essential coverage.
Property Insurance – can protect your asphalt contracting company from the costs to repair or replace the structures on your property (including the area of your home dedicated to your home-based business) and the contents within such as tools, equipment, machinery, materials & other supplies in case of theft, fire, flooding, windstorms and other perils.
You can also add coverage to protect your tools and equipment while in transit or on the jobsite.
Commercial Auto Insurance / Commercial Vehicle Insurance – we can provide individual and fleet coverage for your trucks, vans and any other vehicles owned by your asphalt contracting company that require insurance coverage.
We also provide construction bonds for your asphalt and paving contractor business to bid on public and commercial contracts. For more information, visit our Types Of Commercial Surety Bonds In Canada page.
Get ALIGNED with Asphalt Contractor Insurance packaged by commercial insurance specialists.
Insuring businesses is all we do. With ALIGNED, you get a commercial insurance specialist working Canada’s top insurance companies to get your asphalt contracting business the coverage it needs at the best possible rates.