Common Construction Insurance Mistakes
As a contractor or a construction business owner, you want your business to be solid. It should be smart, avoid mistakes, and prevent accidents. However, if you haven’t given some careful thought to your business insurance coverage, you could be throwing money away. Take a look at these common mistakes people make when considering construction insurance in Los Angeles.
Mistake 1: Thinking general liability is enough.
General liability insurance is necessary no matter what kind of business you run. For a construction business or independent contractor, general liability insurance is vital. General liability insurance protects your business assets from the high cost of a lawsuit. Even the most safety-conscious contractors run the risk of having a third-party getting injured or facing property damage and then taking legal action. Since construction job sites are even riskier than most businesses, that means your chance of an accident and lawsuit are even higher.
Mistake 2: Not protecting your tools and equipment
What’s the one thing you need to complete every single job? Your tools! No matter what your specialty, you need your equipment and tools to do it. Whatever your specific tools may be, painters brushes, lawnmowers, or pipe cutters, be sure to protect your equipment. If your tools get damaged by a peril or stolen from your van, your insurance can help to repair or replace items so that you can get back in business.
Mistake 3: Assuming your truck is covered by your personal auto insurance policy.
If you are using a personal vehicle for work purposes, you may be surprised to discover that your personal auto insurance policy probably won’t cover an accident that happens in the course of business. If you use a vehicle for running work-related errands, be sure to take out specific commercial auto insurance.
If the worst does happen, having reliable insurance can mean the difference between staying on track and your business closing its doors for good. For the easy and convenient insurance services that you need, contact the experts at Artisan Insurance Solutions. We are ready to get you the coverage that you need today.
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