Remove Compensation Remove Income Remove Liability
article thumbnail

4 Things You Need To Know About Snow Removal Insurance

Construction Marketing

When it comes to the liabilities covered in the policy, it usually depends on the insurance provider or brokerage. But snow removal insurance is different from commercial general liability insurance. When you’re generating more income , it basically means more business. Usually, more business means more liability risks.

Insurance 185
article thumbnail

10 Best Insurance Companies for Construction Businesses

Levelset

They offer a full range of business insurance policies, including general liability, commercial auto, workers’ compensation, and umbrella. They provide general liability, property, subcontractor, and cyber protection. Next does not offer specialty coverage, like builders’ risk or pollution liability. Find an agent.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Key Financial & Safety Metrics for Subcontractor Qualification 

Autodesk Construction Cloud

Formula: (Cash and Cash Equivalents + Marketable Securities + Accounts Receivables) / Current Liabilities . Like the Quick Ratio, Current Ratio measures a company’s ability to pay off its short-term liabilities with its current assets. Formula: Current Assets / Liabilities . Formula: Total Liabilities / Total Assets .

Safety 94
article thumbnail

Subcontractor Insurance: 7 Policies Subs Should Consider for Their Business

Levelset

“If something goes wrong, liability could hit the GC’s policy, which dilutes liability insurance limits, negatively impacts their claims history, and forces them to deal with a claim that’s not really their fault.”. General liability insurance. Workers compensation insurance. Business auto insurance.

article thumbnail

A Plumbing Contractor’s Guide to Insurance Coverage

Levelset

In this respect, general liability insurance or workers’ compensation could help cover those costs if an incident should occur. . Workers’ compensation insurance should be in place to help defray the costs of employee medical treatments. Liability for damage. A GL policy offers a wide range of protection.

article thumbnail

Carpenter’s Insurance: Who Needs It & Why

Levelset

There are many policies that apply to a carpenter, but a simple business owner’s policy can include property damage and liability coverage. If a third party gets injured on a job, liability coverage helps pay the cost of legal defense if you get sued for the accident. . Does a carpenter need insurance?

article thumbnail

Business Interruption Insurance in Construction: What Contractors Need to Know

Levelset

This type of insurance can help ensure that you’re able to continue operations if something happens that causes you to lose income. These include financial losses from reduced income streams or damaged equipment. This type of policy bundles together several types of coverage, including property damage and liability insurance.