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Excavation Business Insurance

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Dig into Success with Insurance for Excavation Contractors

Without excavators, most construction projects wouldn’t be able to get off (or under) the ground. You show up ready to work hard every day, and you deserve business insurance that works as hard as you do.

That’s where Simply Business can help.

Simply Business is an online insurance platform that helps small business owners protect what they’ve built. Our excavation insurance options can cover accidents that could be costly at best and business-ending at worst. A single accident could bring your business crumbling down.

Not sure what kind of insurance you need? No worries — our quote process is designed to narrow down the ideal coverage for your specific needs, based on the information you provide.

It takes only a few minutes to get free quotes from some of the nation’s top insurers.

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Need more detail? Read our FAQs:

  • What is Business Insurance?
  • What is General Liability Insurance?
  • What is Professional Liability Insurance?
  • More business insurance FAQs

Coverage Type

  • Small Business Insurance
  • General Liability Insurance
  • Professional Liability Insurance
  • Self-Employed Business Insurance
  • Contractors Insurance

Excavator pilots digging machinery

Here are two types of business insurance available to excavation contractors:

  • General liability insurance
  • Workers compensation insurance

Each type of policy covers different scenarios, but all insurance offers these benefits:

  • It can protect your business from certain claims.
  • It can cover damages caused by your negligence.
  • Proof of insurance can help customers feel good about your work.
  • It may be legally required where you’re located.

What Type of Insurance Do I Need as an Excavation Contractor?

So you’re curious about business insurance. Now what?

That’s where we come in. Let us give you a lesson in excavation insurance 101, without all of the confusing legal jargon. Here are the two types of policies to consider and what they can cover.

General Liability Insurance

Any time you’re working on a jobsite or operating heavy machinery, you open yourself up to risk. You know that, though, which is why you’re serious about staying safe. Unfortunately, even a small slip could leave you with a hefty bill.

Imagine you’re digging on a customer’s property when you accidentally hit a sewer line. You break the line, which causes sewage to leak all over the front yard. That’s not fun for anyone involved. As if the whole scenario wasn’t enough of a headache, your customer could sue you for damages.

The average customer injury or damage claim is $30,000. That means that one wrong move with your excavator, and you could end up in debt.

So what’s a business owner to do — lay awake at night and think about what they stand to lose? No, you don’t need to stress about what may or may not happen.

Instead, you can protect your business with general liability insurance. This type of policy typically covers costs associated with third-party accidents, damages to property, and bodily injury to a third party. “Third party” refers to your customers and vendors.

When you have GL insurance, an accident like the broken sewer line could be covered up to your policy limit. You also may consider adding “Contractor’s Tools and Equipment" coverage, which could help you pay for stolen or damaged equipment.

Each state sets its own laws about business insurance coverage, but you can be proactive and protect yourself even without a legal requirement.

To recap, here’s what general liability insurance usually can cover:

  • Bodily injury to another person
  • Third-party property damage
  • Personal and advertising injury
  • Medical expenses
  • And more

Now check out what general liability insurance usually doesn’t cover:

  • Damage to your own property
  • Professional services
  • Workers compensation or injury to your employees
  • Damage to your work
  • Motor vehicles while in business use
  • Expected or intentional injury or damage
  • And more

Workers Compensation Insurance

Do you have employees? If yes, even if you have one or two part-time helpers, you’ll likely need workers compensation insurance. Similar to general liability excavation insurance, your state sets the laws about workers comp.

You can check to see your state’s laws here. Or simply complete the free quote process to determine what coverage you may want to consider.

A jobsite can be dangerous. In fact, approximately 25 people are killed each year in trench-related accidents, according to the Bureau of Labor statistics data. To protect you, your employees, and their families, you can get a workers comp policy that can cover the costs associated with an employee’s injury or illness while they’re working for you.

The average work injury cost is around $41,000, which you’d be responsible for without workers comp coverage.

In general, workers compensation insurance can cover:

  • Medical payments
  • Lost wages
  • Rehabilitation expenses
  • Death benefits

Male excavator pilots machinery in yard

Why Is Insurance for Excavation Contractors Important?

Reflect on all the hours you’ve spent learning everything you know, conversations held to keep projects running smoothly, and responsibilities that fall to you as a business owner. If you don’t take steps to protect your business against what could happen, you stand to pay the price in the future.

Did you know that up to 43% of small business owners polled reported being threatened with or involved in a civil lawsuit? That means you could be one of the lucky businesses that never face legal action as the result of an accident.

That’s not a bet we suggest you make, though, especially considering the costs you could encounter. The average expenses that small business owners without insurance can be exposed to include:

  • $30,000 for property damage or accident claims
  • $50,000 for reputational harm claims (e.g., in cases of slander or libel)
  • $20,000 for a customer slip-and-fall case

Take a moment to imagine if you found yourself in a position where you needed to pay thousands of dollars to a customer. Could you pay in cash? Are you willing to take out a loan? Having excavation insurance could help offset those costs up to your policy limits.

We understand that you may be reluctant to add an extra expense each month. After all, you need to spend your time and money wisely. Luckily, you don’t have to pay for more insurance than you need. Each insurance quote is tailored to you, so you can avoid overpaying for a policy above your needs.

In addition to protecting your business from accidents, excavation insurance also can help your business grow. Some landlords require a certificate of insurance (COI) as part of their lease agreement, so getting covered may help you secure a shop office.

Being able to prove coverage also may build trust between you and vendors, customers, and potential employees.

At Simply Business, we make it easy to find the right insurance plan at the right price. Just answer a few questions about your business, and you can compare free quotes from the nation’s top insurers.

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Excavation Insurance FAQs

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Is excavation insurance required by law?

Your location determines whether or not business insurance is legally required. Each state sets laws for general liability and workers comp insurance, but even if it isn’t required, it’s often suggested. Our quote process can automatically let you know what your state requires, so you don’t necessarily need to look it up before getting started.

Male excavator pilots machinery

Why Choose Simply Business?

We know there’s no shortage of insurance options for you to choose from, and that you want to make the right choice for your business.

That’s why Simply Business is committed to making it as easy as possible for you to find, compare, and choose excavation insurance options. We’re an online insurance platform that helps small business owners prepare for whatever life may throw their business’s way.

Thanks to the thousands of business owners who trust us to protect their growing businesses, we’re one of the fastest-growing online providers of small business insurance.

So why choose Simply Business?

  • We’re fast and affordable. We’re not here to take up your time or pressure you into buying more than you need. Instead, we help you find customized quotes in just a few minutes.

  • We’re flexible with coverage. We can provide your first certificate of insurance (COI). Are you looking to add workers comp coverage for a new team member? We can do that, too. We’re here to help as your business evolves and grows.

  • We get your business. Every small business deserves the care and attention it offers its customers. That’s why we provide personalized protection when you need it the most.

You work hard to build your business, and we work hard to protect it.

Businesses We Insure

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This content is intended to be used for informational purposes only. It is not intended to provide legal, tax, accounting, investment, or any other form of professional advice.

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*Harborway Insurance policies are underwritten by Spinnaker Insurance Company and reinsured by Munich Re, an A+ (Superior) rated reinsurance carrier by A.M. Best. Harborway Insurance is a trade name of Simply Business, Inc., which is a licensed insurance producer in all 50 states and the District of Columbia.

© Copyright 2020 Simply Business. All Rights Reserved. Simply Business, Inc. is a licensed insurance producer in all U.S. States and the District of Columbia. Simply Business has its registered office at Simply Business, 1 Beacon Street, 15th Floor, Boston, MA, 02108. In the state of California, we operate under the name Simply Business Insurance Agency, Inc., License #0M20593. In the state of New York we operate under the name Simply Business Insurance Agency. In the state of Texas we operate under the name, U.S. Simply Business, Inc. For more information, please refer to our Privacy Policy and Terms & Conditions.