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Building under construction insurance can assist your business when things go wrong.  Building sites have accidents, delays, changes to plans, theft and vandalism. This can cause your contracting business substantial financial losses.


Let’s look at one area where problems often occur. Not many contractors know they can protect – scaffolding.


Scaffolding on construction sites

Scaffolding is frequently a big part of a construction project.  It can save you time and it can save you money.  There are a few hazards that come with scaffolding, however.  The ones that are most common include:


1. Falling from scaffolding

There are very definite safety measures used when installing scaffolding, like the installation of guardrails. Unfortunately, accidents do still happen.  A common cause of a fall is poor access to the scaffold, for instance when ladders are not secured to the structure.  A fall from scaffolding can cause serious injury.


2. The collapse of scaffolding

When scaffolding’s erected, consider the amount of weight it needs to take.  This includes factors like how many workers it must hold, the weight of materials it must take, and the weight of the scaffold itself.  Again, accidents can happen.  The collapse of the scaffolding could injure people, it can damage the structure, and the scaffolding itself is damaged.


3. Struck by falling objects

Falling tools and materials can injure or even kill those walking below. This is prevented by installing netting on work platforms and physically barricading people from walking beneath a platform.  When an incident does happen, however, it is very likely to cause serious harm.


4. The danger of electrocution

Live power without proper insulation together with metal scaffolding can become a significant hazard. The consequences can be severe and can impact many people on your site.  Proper communication and observing safety protocols is essential but what if something goes wrong?


5. Theft or vandalism

This is a different kind of problem than bodily injury. However, it can still be very expensive ones to rectify. Do you have the resources to replace your scaffolding mid-project?


What has this to do with building under construction insurance?

The hazards described here can have serious financial consequences for your business.  They can result in a number of claims – third party liability claims, compensation for workers  injured, and property damage claims.  For the last one, building under construction insurance will be key to your financial survival. This coverage is Builder’s Risk or Course of Construction insurance.


How can Builder’s Risk Insurance help?

Builder’s Risk Insurance is property coverage. Needless to say, it won’t protect you for third party claims or injuries to your workers, but it will provide coverage for the property under construction or remodeled or refurbished.  Builder’s Risk Insurance’s tailored to your project. You can include damage to scaffolding as one of your insured items.  (By the way, the replacement of stolen tools are covered.)


How Can You Get Building Under Construction Insurance

John Brown President Farmer Brown Insurance (888) 973 0016

John Brown – President

Farmer Brown Insurance can help you with all your construction insurance requirements.  Moreover, we specialize in Builder’s Risk Insurance and can help you tailor your policy.  Furthermore, scaffolding is only one aspect of your project – what other risks do you need to consider?  Call now to speak with a consultant on (888) 973-0016. Let us help you get the right coverage for your business.


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