Protecting Construction Contractors
With every contracting job, there comes a certain amount of risks. When you hire a contractor, you are essentially outsourcing a part of your business to that group. As a construction business owner, you likely have to contract some of the work to other businesses. You may need to hire contractors to pour cement, lay brick, or set electrical wiring. You may even likely have a trusted relationship with these contractors. You have their needs in mind when they come onto a property you own. However, you also have liabilities to protect.
Here are a few ways to mitigate potential losses from contracting injuries.
Check Your Insurance and Bonds
It is important the construction business carry liability insurance for all potential risks. Make sure your business policy covers common accidents that might happen to contractors. If you’re ever deemed at fault for an injury, your liability insurance will step in to protect both you and the contractor.
Make sure that your contractors carry proper liability insurance as well. If a contractor gets hurt due to their own negligence, they will likely have to turn to their own insurance for protection. In addition, contractors should also require any contractor work to come with surety bonds. These bonds can help ensure that contractors will complete work on time.
Make Safety a Priority
The best way to reduce insurance liability risks to secure your construction site. Keep these steps in mind and make safety a priority:
- Require appropriate safety gears at all times. These might include hard hats, gloves, masks, and other protective clothing.
- Be aware of what contractors are working on at all times. Make sure they know to come immediately to you if they experience problems.
- Make sure that contracted employees only do the tasks they are an expert in.
- Ensure that contracted employee use their own tools whenever possible. If they need to use your tools, ensure they know how to operate everything correctly.
Protecting your business and your contractors should be a priority. Make sure to get proper contractors insurance to cover your business. To get started on your tailored policy, contact Nahai Insurance Services.