If there’s a business or a company that’s definitely in need of insurance protection, it’s probably an excavation company. Excavation companies deal with one of nature’s most unpredictable resources – land. Workers with heavy equipment need to dig, move, remove, reshape and transport huge amounts of soil and earth as part of preparing for a building’s foundation. With this kind of activity, there is a high probability that something will go wrong given the nature of the job. You may accidentally hit and cut off hidden underground utility lines or your equipment will become faulty for some reason or other and cause severe damage or injury to nearby property and people. Regardless, you need to be able to answer and compensate the injured parties and that is why it’s imperative that you get Excavation Insurance.
Excavation companies know the reality that despite taking all the necessary safety precautions, there will be instances when workers will get injured from operating heavy equipment or from the actual earthmoving activities. It in the unfortunate eventuality that companies take out insurance coverage like Workers Compensation to have the financial capability to pay off any claims when a worker becomes injured or dies in an accident.
Important Excavation Insurance Policies
Workers Compensation insurance is a positive benefit for both the employer and the employee. Employees will be compensated for their medical expenses while in the hospital. While they’re recuperating in their homes and unable to work in the meantime, they will also be entitled to receive their salaries and wages. If in the unfortunate event that a worker dies, his family members will receive death benefits and possible reimbursement from funeral expenses. Employers too will find that having insurance to pay for all these mentioned expenses is better than having these costs taken out of the company’s own pockets.
If you want to protect your company from expensive damages coming from the general public, you need to invest in General Liability insurance. If anyone else gets hurt from the work that your company is undertaking, specifically outside of your company and those under your employ, you are required to pay for compensation for them too. If you don’t want the payments to come out from your company’s expenses, you need to have General Liability coverage so that your insurance company will take care of the problem.
Commercial Umbrella Liability Insurance
If for instance, the damages are too much and too expensive for the insurance coverage that you initially subscribed to, you can always have a back-up insurance coverage like Commercial Umbrella Liability Insurance to take care of the balance that your other insurance plans weren’t able to fulfill.
For your customized insurance coverage, you only need to look at Contractors Connection, and we will be glad to create your very own Excavation Insurance plans designed to suit your company’s needs. All you need is to call us at 1-800-307-9480 or request a quote online so we can arrange a convenient time to discuss your requirements with you. Trust in our experience and you will be on your way to having peace of mind.