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You know what it takes to build a strong frame for a building. When it comes to girders, crossbeams, and scaffolds, you know exactly what it takes to build a strong and safe foundation. On the other hand, you may not be as familiar with what essential small business insurance you need.
At Simply Business, we can help you find a steel erectors insurance policy that’s as unique as your business. This coverage can help protect you from common risks, so you can continue delivering great work for your customers.
As you are involved in creating the framework of buildings, it’s safe to say that steel erectors are exposed to many risks. Since you’re working on different client sites, there’s the potential for accidents and property damage. Plus, if an employee gets hurt on the job, your business could be exposed to lawsuits and medical claims.
General liability insurance — also known as commercial general liability (CGL) insurance — covers costs associated with third-party accidents, property damage, and bodily injury. Without this type of coverage, your steel erector business may be responsible for those costs. That’s why we recommend that steel erectors carry general liability insurance, as it can provide their business with essential protection.
General liability usually covers:
General liability insurance usually does not cover:
Learn more about General Liability Insurance.
Professional Liability insurance - which is also referred to as errors and omissions insurance (E&O insurance) - is a type of policy that provides coverage in the event a customer alleges negligence from your professional services. If your customer decides to sue your business for mistakes related to your services, your professional liability insurance policy may cover damages and legal costs that you might be ordered to pay due to negligence.
Additionally, if a [related service] goes wrong for any number of reasons, you may be susceptible to a lawsuit from a customer, whether or not negligence occurred.
Professional liability insurance usually covers:
Professional liability insurance usually does not cover:
If an employee gets sick or injured while working for you, workers compensation - also known as employers liability insurance - can provide your business with financial protection. Most states require businesses to carry this policy when you hire your first employee, so be sure to add it to your coverage if you have a team.
Here’s how workers compensation insurance works: If an employee gets injured on the job, this insurance can cover medical costs and lost wages. Carrying workers compensation can provide much-needed security, as having this coverage in place prevents an employee from suing your business for workplace injuries.
While there’s no single answer for how much insurance costs for steel erectors, you can get an estimate for what you may pay based on:
Want to find out how much your steel erectors business insurance may cost?
Click here to answer a few questions so we can help you learn how much you can expect to pay for your steel erectors insurance coverage.
*Harborway Insurance policies are underwritten by Spinnaker Insurance Company and reinsured by Munich Re, an A+ (Superior) rated insurance carrier by AM Best. Harborway Insurance is a brand name of Harborway Insurance Agency, LLC, a licensed insurance producer in all 50 states and the District of Columbia. California license #6004217.