For your best business protection and savings, we recommend bundling GL with some other important coverages on one Business Owners Policy!
Similar to HVAC contractors and drywall contractors, you face a lot of uncertainties. Whether you are contracted for formwork, placement of steel reinforcement, batching, finishing, or curing, a lot could go wrong during a job. Several risks can happen, including:
Employee injuries due to improper lifting and freak accidents
Breakdown of tractors and other equipment
Respiratory illnesses or infections
Injuries from falling objects
Theft and damage of supplies
Liability over the bodily injuries or property damage of third parties
You ought to purchase cheap business insurance for concrete contractors. This is custom-designed to address the specific risks that you might face while on the job. Your commercial concrete insurance package will offer these policies:
Concrete construction accidents are bound to happen at a site despite your best plans. Suppose someone slips and falls on a wet patch of concrete and gets tracked across your client's floor. While these could purely be accidental, the aggrieved party might file a claim citing bodily injury or property damage. Overall, concrete contractor general liability insurance covers the following:
Third-party property damage
Libel and slander
If you are running a small concrete contracting business, you could bundle general liability insurance with commercial property insurance. This will be in a business owner's policy (BOP) which ensures more comprehensive coverage at a significantly lower cost.
Note, however, that there are prerequisites to qualifying for a BOP. Specifically, you have to:
Have fewer than 100 employees
Work from a small workspace
Make less than $1 million in annual revenue
Require less than 12 months of business interruption insurance
As a concrete contractor, you will be contracted to provide advice, consultancy, designs, inspection, and certification, similar to tile contractors and paving contractors. By virtue of this scope of work, you are exposed to allegations of poor advice, negligence, and misinformation.
To account for such claims, you are going to need professional indemnity insurance (PII), also referred to as an errors and omissions (E&O) policy. The latter provides cover for the legal costs and other expenses that'll arise as a result of such claims. If it is decided that compensation must be provided to the aggrieved party, professional liability insurance will also take care of this.
As a concrete contractor, you handle sensitive information, including your customer's credit card information. This makes you susceptible to hacks and ransomware attacks. To protect your business and your reputation, it would be best that you add cyber liability to your insurance package. Also referred to as data breach insurance, this coverage for concrete contractors, electrical contractors, and other contractors pays for:
Notification of affected customers
Data breach investigations
Cyber extortion payments, including ransom
Threat monitoring services
Suppose you are subcontracted to install a precast flood defense wall or a pre-cast lintel that either fails to prevent the flooding of the client's wooden flows or collapses under water pressure. In such a scenario, you want to have efficacy insurance as part of the basic foundation of your insurance package as a concrete contractor.
Also commonly referred to as inefficiency insurance, this policy is meant to protect your business in the event the measure you suggested and implemented "fails to perform" as anticipated. It is prudent to mention that in most instances, you'll find the efficacy insurance included in a standard concrete business insurance policy. Still, it is best that you inquire from your insurer of choice, as some insurers do, in fact, exclude it.
As a concrete contractor, there's quite the likelihood that you've got employees working for you. Unfortunately, as with any other construction gig, concrete contracting has a high risk of injuries. The latter could place a tremendous financial burden on your business which is where workers' compensation insurance comes in.
The policy pays for the medical expenses and missed wages when one of your employees gets injured while on the job.
While you might have health insurance already, it might not cover site accidents wholly, which is why workers' compensation insurance is a must-have. Specifically, workers' compensation covers:
Immediate medical costs
Ongoing medical costs, such as physiotherapy
Partial lost wages during the time that the employee is unable to work
Note that most insurers will include employer's liability insurance as part of their workers' compensation offering. The employer's liability policy for concrete contractors, general contractors, and masonry contractors covers your business in the event that an aggrieved employee sues you. The policy will cater to attorney's fees, court costs, and settlements.
Your tools and equipment are at the core of your concrete contracting. If anything were to happen to these, it could mean downtime or even closure of business. To cushion your business from the cost of repair or replacement of these contractor's tools and equipment, it would be best that you invest in a contractor's tools and equipment policy. This policy will cover the following:
Equipment less than five years old
Small trade tools
Mobile tools and equipment
An insider tip when investing in insurance for concrete contractors would be to check whether the "ripping and tear'' exclusion is present within the policy you intend to purchase.
You find that many insurers will apply this exclusion with the aim of reducing their exposure. The issue is that, as with pre-cast products and screeds, concrete can be expensive to dig out and remove. To further protect yourself, you want to have your insurer add back the ripping and tear cover into your concrete contractor policy. Note that this will attract an additional premium.
Further, you'll find that to further reduce their exposure, insurers will exclude the cost of repair or rectification of a product from the concrete contractor insurance offering.
An additional policy you must have as part of your standard insurance for concrete contractors is latent defect insurance. Consider this. Most of the issues that will arise with concrete application and construction take some time to materialize. This policy resolves this gap by then covering the cost of repairs or rebuilding in the event of structural issues months after the completion of a contract.
Builders' risk insurance is useful for undertaking large-scale projects. You can use this type of concrete company insurance policy to cover costs if materials or structures get lost or damaged due to fire, explosions, theft, fire, winds, and other covered perils. Note that builders' risk insurance for concrete contractors and swimming pool contractors doesn’t cover damage caused by faulty design or workmanship.
Concrete Pumping Insurance
Concrete pumping insurance is a specialty coverage for concrete pumping contractors. General liability, pollution liability, commercial property, and equipment breakdown insurance are all included in a concrete pumping insurance program. Liability coverage limits of concrete pump insurance range from $1 million-$10 million. Concrete pump truck insurance is also included, which fuses equipment breakdown and commercial auto insurance.
Concrete truck insurance is a specialized cover for the mixer you use for work. This covers not only the vehicle but also the activities it does. Also known as concrete mixer insurance, policies you can get from this are general liability, commercial auto, trailer interchange, and inland marine insurance. Sometimes, concrete agitator insurance might come with rental reimbursement coverage that covers expenses if you need to hire a mixer owned by another contractor.
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Here's a breakdown of what you'll pay for the various policies you require as part of your concrete contractor insurance package:
|Cost per Month||Cost per Year|
|General liability insurance||$60||$720|
|Professional liability insurance||$74||$888|
|Workers compensation insurance||$209||$2,508|
|Business owner’s policy||$63.50||$762.00|
The average concrete contractor insurance cost is $60 per month or $720 per year for a $1 million general liability insurance. The concrete contractor insurance cost will depend on several business factors. These include:
Number of employees
Prior claims history
Business assets and property owned
Size of your payroll
To provide you with a better perspective, here's a breakdown of what you'd pay when working with the best concrete contractor insurance companies in the market:
|Cost per Month||Cost per Year||Best for|
|NEXT||$40||$480||Best overall; Fastest general liability insurance for concrete contractors|
|CoverWallet||$45||$540||Concrete contractor insurance quotes comparison online|
|Tivly||$47||$564||Comparing concrete contractor insurance quotes over the phone|
|Thimble||$51||$612||On-demand general liability insurance for concrete contractors|
|Hiscox||$55||$660||General liability insurance with worldwide coverage for concrete contractors|
|Travelers||$60||$720||Online claims filing resources|
It is prudent to mention that you can possibly find cheap concrete contractor insurance and ultimately save on your premiums. Here are a few tips to consider:
Compare business insurance quotes
Bundle up your policies in a BOP
Implement a safety program
Classify your workers correctly for workers' compensation
Being a concrete contractor is complicated enough without having to ponder over matters such as insurance coverage, loss of income, property damage, or legal expenses. As such, we've curated a list of the best concrete contractor insurance companies. Read to know their pros, cons, and rate for a $1 million general liability insurance.
Get an online proof of insurance and send as a text message, email, or social media post
Fastest general liability insurance for concrete contractors
Great customer service and reputation
Issues an online proof of insurance instantly
Outstanding value for money
Bundle two or more insurance policies and get a 10% discount
Couldn’t find any
NEXT insurance is your one-stop shop for your concrete contractor insurance policies. The provider has an easy-to-use online platform that makes it easy to instantly purchase a policy.
If you are a small business owner that needs coverage fast and would prefer to manage your policies digitally, then NEXT is a great option for you. To get coverage, you are required to provide some business information. These include your annual sales, information on any property you own, the number of employees you have, the number of motor vehicles on your commercial fleet, and details of your prior insurance claims.
Upon providing your details, NEXT will offer three coverage options-basic, premiere, and deluxe. Go for deluxe though it’s the most expensive. This offers general liability, professional liability, workers compensation, and commercial property insurance. You can also add commercial auto insurance. But note that this is underwritten by Progressive.
Best for: Best overall; Fastest general liability insurance for concrete contractors
Average cost: $40 per month
Our rating: 9/10
Terrorism coverage can be added to general liability insurance
Easy to name additional insureds on your policy
Cancel a policy anytime without any charges
Compare concrete contractor insurance quotes online
Not an insurance company but an insurance broker
CoverWallet sells the concrete contractor insurance quotes of its partners. You can compare the features of coverage options through its online quotes comparison tool.
This company’s concrete worker insurance packages typically offer general liability insurance, workers compensation insurance, and business owner’s policy. You can get professional liability and commercial auto insurance as add-ons with the help of a representative.
General liability insurance per occurrence and aggregate limit is $1 million-$2 million. On the other hand, the property insurance coverage of the business owner’s policy is $50,000 minimum.
Best for: Concrete contractor insurance quotes comparison online
Average cost: $45 per month
Our rating: 10/10
Responsive customer service
A partner of many reputable insurance companies
Provides coverage even if your business profile is poor
Call and compare concrete contractor insurance quotes over the phone
You need to call to get a quote
Tivly covers you through its insurance program for construction companies and independent contractors. You can get general liability insurance, business interruption insurance, workers compensation insurance, commercial auto insurance, disability insurance, and commercial auto insurance from this. Performance bonds are also offered. Call Tivly now to compare concrete contractor insurance quotes over the phone and get covered.
Best for: Comparing concrete contractor insurance quotes over the phone
Average cost: $47 per month
Our rating: 10/10
Quick to issue an estimate of your rates
Short-term general liability insurance is available
Choose policy limits and deductibles
Professional liability insurance isn’t available as a stand-alone policy
Thimble provides coverage through its contractor insurance package. Policies you get are general liability, professional liability insurance, and workers compensation insurance. Your general liability insurance from this company has a $1 million-$2 million per occurrence and aggregate limit. Moreover, you can decide to include equipment breakdown coverage and customer property coverage to the policy.
Professional liability insurance has the same limits. Note that this is only available if you decide to get a general liability policy from Thimble.
Best for: On-demand general liability insurance for concrete contractors
Average cost: $51 per month
Our rating: 9/10
14-day money-back guarantee
5% discount if you get two or more insurance products
Get insured online or with the help of an agent
You need to upgrade general liability insurance for comprehensive protection
Hiscox covers your business through its contractor insurance package for all kinds of contractors. Policies available are general liability, professional liability, workers compensation, cyber liability, and business owner’s policy.
Best for: General liability insurance with worldwide coverage for concrete contractors
Average cost: $55 per month
Our rating: 9/10
Travelers has concrete contracting experts on board
Travelers provides online tools and innovative features for filing claims and managing your policies
Travelers has a good financial standing
Travelers lacks unique discounts
Concrete contractor insurance is not offered in Alaska, California, and Florida
Customer satisfaction rating needs improvement
Travelers' concrete contractor insurance includes:
Auto liability and physical damage
As for how much you will pay for this policy, Travelers isn't forthcoming with information on the standard charge. You are, however, encouraged to get in contact and provide business information to get a custom quote. Travelers offers additional concrete contractor insurance options. These include:
Environmental liability insurance
Owners' and contractors' protective liability
Management and professional liability
Best for: Online claims filing resources
Average cost: $60 per month
Our rating: 9/10
Get all the best quotes from leading providers in a click of a button!
Their general liability insurance purchase process is simply the best online experience I've ever had in my life!
As long as they cover your line of business, you're literally covered! best rates, best coverage, best online experience, best professionals, can't be happier that I chose them!
It really can't get any better than this... wow
Policy Type: Business Insurance
Company name: CoverWallet Business Insurance
Very good experience
Terrific experience with their construction business insurance! 10/10! Thank you!