Liability Protection and Masonry Business Insurance
Masonry, stonework, or bricklaying, however, you refer to your work and regardless of your area of expertise, your masonry business bears a heavy load of risk and responsibility. Only the right masonry business insurance can protect you in case of injuries or property damage. And with clients expecting your work and your business to be insured, if you’re a general contractor bidding on contracts, work as a subcontractor or work directly with homeowners, you need to provide them with that peace of mind. Build your masonry business on a solid foundation with the right insurance coverage that keeps you competitive and secures your company from collapse.
Masonry is dangerous work. Working with brick, limestone, cement, jackhammers, chisels, drills, saws, and diamond blades every day leaves your masonry business exposed to a high degree of potential injury to your team, your clients, and the general public. On top of that, a foundation, façade, or retaining wall you’ve built could shift or collapse, potentially causing serious injuries and thousands, if not millions of dollars in property damage.
Consider these other scenarios:
- A client or member of the public is injured, or property is damaged from falling bricks
- Incorrectly lifting and levelling a house causes cracks in the walls
- Laying a foundation improperly leads to uneven floors
Our masonry business insurance can protect you from both premises liability exposures and completed operations liability exposures. A Commercial General Liability Insurance policy as part of a masonry business insurance plan offers 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
Additional Masonry Business Insurance Coverages
Additional coverage may be needed for comprehensive protection of your masonry business. These are some of the coverages that can be included in your masonry business insurance package. Each coverage can be tailored to the limits that make sense for you:
Property Insurance protects your building and contents in case of perils such as fires, floods, bad weather incidents, and more.
Speak to your broker if you run your masonry business from home to ensure that your business equipment, tools, and supplies are protected. ALIGNED property insurance can also include floater coverage for your masonry tools and equipment in transit and on the job site.
Commercial Vehicle/Auto Insurance ensures that you and your trucks and vans are covered in case of a collision involving a work vehicle. We can also provide construction bonds for your masonry company to bid on public and commercial contracts. For more information, visit our Types Of Commercial Surety Bonds In Canada page.
Does insurance cover masonry?
Yes, ALIGNED’s masonry business insurance can cover your business, regardless of what type of masonry you do. Whether or not you have a specialty area or not, insurance coverage is both available and necessary for your masonry business to guard against potential risks. Masonry business insurance can protect you in the event of injuries or property damage related to your business activities and can cover your business property and work vehicle with the right coverage. Not only does your masonry business need insurance to protect you and your employees, but many contractors will require you to have it before they hire you for a job.
What insurance must Contractors have?
A contractor needs insurance coverage that best suits their own individual business needs, taking into account the business’ size, operational specifics, and other factors. The one coverage that all contractors must have is Commercial General Liability Insurance, which covers the cost
of property damage and liability claims, including damages and medical costs. It is often required by those who contract you to perform work.
Typically, contractors should also consider the following coverages:
–Course of Construction Insurance – this can cover property insurance coverage while building and repairs are in progress
–Business Interruption Insurance – in case your job has to stop due to a natural disaster
–Property Insurance – protects your property in the event of vandalism, theft or environmental damage
–Pollution Liability Insurance – provides coverage if hazardous materials cause damage to property or bodily harm in your project’s vicinity.
How much should contractors’ insurance cost?
Contractors’ insurance should be tailored to the size and scope of your contractor business. It should be affordable to your small business. The larger your operation and the riskier the jobs you do, the higher your insurance cost could be. For example, for $1 million in liability insurance, you might be looking at paying $300-1000/year depending on your particular business.
What insurance do construction companies need?
Construction companies require several different insurance coverages to ensure the company is protected in the event something goes wrong on a job. Again, Commercial General Liability is a must-have to guard against potential property damage and bodily injury that occurs as a result of your business. Other coverages to consider include:
-Course of Construction Insurance
-Errors and Omissions Insurance
-Commercial Auto Insurance
-Property and Equipment Insurance
-Wrap Up Liability Insurance
-Boiler and Machinery/Equipment Breakdown Insurance
-Cyber Liability Insurance
Get ALIGNED with Masonry Insurance that’s perfectly level with your business needs.
With ALIGNED you get a commercial insurance specialist advocating to get you comprehensive masonry business insurance from Canada’s top insurance companies at affordable rates. Contact an ALIGNED licensed insurance agent to get a free quote on masonry business insurance in minutes or get started right now by using our free online tool.