Taking Care Of The Details
As business experts we find ourselves repeating our advice frequently to our customers, and the most common piece of advice we use is to make sure you take care of the details. While this does mean making sure that a company has the right equipment to do the job, it also refers to details in terms of insurance and coverage. Not every job is the same, and that means that not every job should have the same insurance coverage if you are going to truly protect your company.
Make Sure You Have The Right Liability Coverage
What if one to two million dollars in liability coverage is not enough to protect you in your company’s biggest project? Too many contractors go into milestone projects thinking that the coverage they have in place is going to be enough to protect them if something were to go wrong. Before you start any project, we recommend that you sit down with your risk experts and determine what kind of insurance you need to make sure that a problem with your project does not mean the end of your company.
Have The Proper Policies In Place
Contracting is an adventure that can take you to places and expose you to activities you are not experienced with. Let’s say that you take on your first project that could deal with transporting hazardous waste and you decide that since the hauler is dealing with it, you don’t need extra insurance. Then your crew causes a spill while moving the material into the truck and suddenly you are in big trouble.
When it comes to proper insurance coverage on a jobsite, you should never assume that you have enough. Until you talk to real experts who understand risk and insurance to get the right insurance for your project, you are taking serious risks with the future of your company.
Always Take Care Of Your Employees
We find that a quarterly review of your worker’s compensation insurance helps us to stay in touch with your business and make sure that you have the right coverage in place at all times. But if your company is growing faster than usual, then it may be time for monthly or bi-monthly worker’s compensation reviews.
Worker’s compensation is not just required by law, it is also good business. When your employees see one of their own get hurt and find out that the company had the right insurance in place, then that helps to keep morale high. But if worker’s compensation cases start to get rejected because you did not update your insurance, then that could start a domino effect that may cause you a lot of trouble.
With any business, success occurs when you handle the details. In the construction industry, details mean making sure you have the right amount and kind of insurance in place. We are business experts who understand that your time is valuable, but we also appreciate the need to keep your risk protection programs in place. We help you to attend to those details so that you can go back to running your company and generating revenue.