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In this article, let’s look at how you can benefit your company by seeking lockdown insurance advice. Construction may feel like it’s at a standstill. But you can still be proactive in improving your contractor business.   With 9/10 Americans asked to stay in and flatten the Coronavirus curve, you’ve probably been looking for ways to minimize your company’s losses. So, let’s look at increasing your savings when you return to work.


Cheap, well-considered insurance means more money for you. There’s no time like now to consider the moving parts of your business.  And, design a plan that gets you the best coverage and value for money. Let’s safeguard your company for life after lockdown by looking at some of the best lockdown insurance advice for contractors.


Take A Second Look At Your Liability Coverage


Despite the best intentions, all jobs create hazards – construction especially.


10% of accidents are slips and falls. At $30,000 per incident this adds up. Particularly in an increasingly litigious environment where 40% of small businesses will face a Liability claim by 2030. A really crucial piece of lockdown insurance advice is to consider your current policy – e.g. is your aggregate, or limit, enough? At least $1,000,000 of coverage is required for contractors. But it’s possible you’d actually save money by increasing it.


It depends on your company and the type of work you do. At Farmer Brown we focus only on insurance for contractors.  We know how to get the coverage you really need.


Think About Your Workers


If the COVID-19 crisis has shown anything, it’s that bodies are vulnerable. Workers in construction are especially prone to getting sick or hurt – about 71% more than other industries.

2018 saw 22,000 Workers Compensation claims. You need a good policy that pays your employees’ wages and hospital bills, but isn’t overly expensive. Coverage is based on payroll. But, you may struggle to give accurate projections, particularly after a severe lockdown.


An accessible, flexible agent can help adjust your policy as needed. Farmer Brown provides quick turnover, with staff bi-lingual in English and Spanish.


Build A Builder’s Risk Insurance Plan


A vital piece of lockdown insurance advice for 2020 is, prepare some Builder’s Risk Insurance, if you haven’t already. Fire, storms and crime can all be massively damaging to your construction site. Wind tops the list at 28% of claims. Considering the expensive equipment and materials used, the need for protection is obvious. Even if you do carry Builder’s Risk Insurance, it isn’t standardized.  So your coverage may not be streamlined around your specific business.


Each company faces a unique set of exposures.  But, at only 1-5% of total costs, Builder’s Risk gives scope for them all. Extensions can be added to include water buildup, pollutant cleanup and property in transit, among others.


Lockdown Insurance Advice From Farmer Brown


John Brown President Farmer Brown Insurance (888) 973 0016

John Brown – President

We have an A+ rating with BBB, thousands of 5-star reviews and we’re licensed in all 50 states. We offer the best lockdown insurance advice to ready your business for the months to come and beyond. Farmer Brown Insurance can customize a policy around your business and your needs. You’ll pay the lowest premiums for the most protection. Give Farmer Brown Insurance a call on (888) 973-0016.

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