The concrete business is valued at around $60 billion right now. If you take a look around, you probably shouldn’t expect this to trend downward anytime soon.

Buildings and structures of all types and sizes use concrete, so if you work in this industry, you can earn plenty of revenue. However, it’s important that you have your ducks in a row, starting with small matters like securing concrete insurance.

Consider the tips in this article to learn all about concrete insurance, what it covers, and how you can get it.



Learn What Concrete Insurance is and Why You Need It

So what exactly is concrete insurance?

In general, this is a policy that covers contractors when they perform work on job sites. This applies whether they’re fixing a pothole in a driveway or building a multi-million dollar bridge for a big city.

While concrete work is a necessity, it also involves a lot of heavy lifting and moving parts. The work is inherently risky and requires expensive materials being transported from Point A to Point B.

As such, you need to account for these risks with an insurance policy that’ll cover you each step of the way. You can better provide for your customers when you’re not worried about whether your work is covered.



Factor in the Types of Policies for Concrete Insurance You Can Sign Up For

Concrete professionals need specific types of business insurance that will help them in their everyday processes. You should get to know the many different types of policies available so you can sign up for whichever you need.

Here are a few of the most common policies that you should keep in mind:


1. Coverage to Take Care of Injuries

Studies show that someone gets hurt at work every 7 seconds in the United States. This injury rate applies to all workplaces — so imagine the inherent injury risks you’re dealing with on concrete and construction sites.

Make sure that you pair up with a policy that will help if you or anyone on your worksite gets hurt. This will cover their medical bills and recovery so that needs are addressed without ending in litigation.


2. Workers Comp Coverage

Workers’ compensation injuries are another reality of concrete projects. These cases take place when someone gets hurt at work and they need money for missed pay.

Businesses in all industries are required to have a workers’ comp coverage plan. This way, when your employees get hurt they can get payouts to account for their injuries without you having to dip into the company’s budget.

Instead, you can process a claim with your insurance company and take care of your employee and all of their needs.


3. Damage to Physical Property

When you’re doing concrete work, there’s always the chance that you accidentally damage someone’s property. Perhaps you’re installing a driveway and accidentally scratch a person’s vehicle or ruin part of their lawn.

Invest in an insurance plan that will let you account for this physical property damage.


4. Protect Your Equipment and Inventory

Concrete service is specialized work, which means that you have equipment and inventory that allows you to do what you do best.

Some of the machinery that people in this industry use regularly include concrete pumps, boom trucks, mixers, and bulldozers. These machines cost several thousand dollars, so you’d be remiss to not cover them for every cent.

With an insurance plan, you can pay for your machinery if it breaks down or something goes wrong with it.


5. Account For the Premises Liabilities

Most laws state that the concrete contractor is responsible for the property during the entire time they’re doing a project. This means that they’re responsible for injuries or damages people suffer when safety precautions aren’t taken.

Some precautions include blocking or fencing off the property and putting up signage. You’re still responsible for these matters even after your crew packs up and goes home for the day.

Having a liability policy will account for any damages that happen that were within your control.



Find a Company That Offers Concrete Insurance Coverage and Shop For the Best Price

As you can see, your company will heavily rely on these policies. Take the time to find professionals that sell this insurance, and look into their credibility, Better Business Bureau (BBB) scores, and what the public says about them.

Just as importantly, make sure that they charge rates that you know you can afford.

Get quotes and calculate your insurance premiums so you know how much it’ll cost you each month. Choose a policy that you can afford, and make sure that your payments are processed on time so that you don’t have any lapses in coverage that can put your business in jeopardy.

Check around for referrals so you feel confident spending money with a specific concrete insurance shop.



Put Together a Winning Concrete Business

If putting together a winning concrete business is your end game, it all starts with the right policies and logistics. Buying a concrete insurance plan will help you more than you know.

Our company is tops when it comes to selling people insurance plans of all types. We have agents on call around the clock to provide quotes and to process claims. We’d love to hear from you and will help you secure the future of your concrete business.

When you’d like to contact us, use our web form or pick up the phone and call (888) 973-0016

Written by: John Brown
John has more than 25 years of experience in the insurance industry. He grew from a star insurance producer to owning one of the largest agencies in the country; he's a reference regarding contractor's insurance, commercial insurance, and builders' risk insurance.