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Either by choice or required by contract or statute, commercial general liability (CGL), workers’ compensation, business auto and inland marine insurance (mobile equipment) are among the most common types of insurance purchased by contractors.
Now, contractors who rely on spreadsheets find themselves at a disadvantage when they compete against companies equipped with estimating software. When pencils, paper and calculators were the go-to tools for estimating, spreadsheets represented a major breakthrough to contractors looking for a smarter solution.
For heavy equipment rental companies, business is only as good as their equipment uptime because assets can quickly turn into costly liabilities when they fail in the field. Without proper care, faulty equipment will also turn good customers into ex-customers, as well as decrease service life and resale value.
There are all sorts of equipment and materials needed to start a roofing and guttering business. Roofing equipment and materials. Insurance, liability, and workers’ compensation . 3) Equipment and materials. Roofing and guttering equipment and materials need to be acquired before you can start your business.
For those installing properties using rigging equipment, the complexities of these job sites are even worse. Rigging insurance, also known as riggers liability insurance, provides cover against property loss or damage when on the hook of cranes. Items such as telecom equipment, generators, and air conditioning units are very expensive.
It also ensures you’re not spending money on hospital bills, treating injured workers, and legal liabilities. . Examples of equipment used in construction sites include bulldozers, lifting cranes, dump trucks, excavators, forklifts, etc. . Avoid that from happening by inspecting your equipment regularly. .
NexTraq is improving its Safety and Liability Protection offer for its Dashcam by adding feature updates to the high-definition vehicle incident camera system solution. Fleet managers will now be able to request specific videos and images for specific dates, times, or locations for insight into…
Because of their nature of work, snow removal contractors are usually exposed to many risks, which may include anything from third-party injuries to equipment. When it comes to the liabilities covered in the policy, it usually depends on the insurance provider or brokerage. Usually, more business means more liability risks.
liability insurance and allowance for small tools and consumables. Liability insurance based upon local contractor rates is also added as a percentage. Equipment Costs. Equipment costs are either local rates or a national rate for each piece of equipment used in crews performing the task based upon daily usage.
General Liability Insurance. This type of coverage will protect your company from various liabilities , including injury claims, and cover medical expenses. General liability also protects businesses if they cause damage to a customer’s property or if any product installations go awry, like faulty plumbing that causes leaking.
Liability insurance protects your business against claims for damages caused by you and your workers, if you have any. The two most common liability insurance policies for contractors are general liability and professional liability. What are general liability and professional liability insurance?
Whether it''s the latest in mobile communications, building materials and design, prefabricated and modular construction, laser technology or safety equipment, new technologies can provide more efficient, safe and cost-effective ways of operating your business.
By Bruce Jervis A primary purpose of a limited liability company, much like a corporation, is to shield company owners from personal liability for business losses. When the company enters into a contract, the company’s assets are at risk.
Every other factor… collaboration, information environment, team members, quality, project delivery method, materials, equipment, environment… impacts time. What is the most critical factor in facilities management and sector?
EQUIPMENT |. Equipment Management. Equipment and Services Directory. Most of these contractors are considering an investment in equipment or software, and they want to know if it can actually help their construction business. Good on new and used equipment, including software. MARKETING |. INSURANCE |.
Two of the most common insurance policies that contractors have are builder’s risk and general liability, which serve very different purposes. Builder’s Risk Insurance General Liability Insurance Coverage Covers a building under construction—and often tools, equipment, and materials related to the project.
Dependable machinery and equipment are vital to being able to complete jobs safely and effectively. Effective Management Practices Running this business means managing all sorts of employees, projects, equipment and more. So, make sure to pick your team members carefully and ensure they have the skill sets you need.
Unfortunately, a landlord’s biggest liability in a commercial construction project can be an insensitive general contractor whose only concern is making his deadline and budget. Construction contractors should pull up, unload tools or equipment and park in the back lot, leaving the most convenient parking for customers.
Paper forms decrease worker productivity, increase risk/liability, and decrease operational efficiency. With an app, you can use drop-down lists and you can pre-populate information like location or equipment types from your database. Mobile business apps are more accessible to businesses than ever. Employee/Contractor Timesheet.
The Japan Aerospace Exploration Agency (JAXA) is teaming up with Kajima Corporation and Taguchi Industrial to build lightweight, automated construction equipment to work on construction projects on Mars and our moon.
“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.”. Finally, the GC’s policy won’t provide any coverage for tools, equipment or vehicles.
EQUIPMENT |. Equipment Management. Equipment and Services Directory. Public Exposure and Liability on Construction Sites. MARKETING |. INSURANCE |. General Management. Software & Technology. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations.
EQUIPMENT |. Equipment Management. Equipment and Services Directory. E-mail overload » Construction Equipment Management: Finding the Sweet Spot. After working with contractors for 30+ years, it still concerns me how many do not have a real handle on their equipment costs. 4 Categories of Equipment.
A solid commitment to safety can help reduce legal liabilities resulting from accidents or non-compliance with safety regulations. Promoting safety in construction sites involves ensuring operators understand standard procedures, equipment inspections, load calculations, and hazard identification.
EQUIPMENT |. Equipment Management. Equipment and Services Directory. Committing Intentional Project Communications » Public Exposure and Liability on Construction Sites. Public Exposure and Liability on Construction Sites. MARKETING |. INSURANCE |. General Management. Software & Technology. Construction Law.
EQUIPMENT |. Equipment Management. Equipment and Services Directory. Public Exposure and Liability on Construction Sites. MARKETING |. INSURANCE |. General Management. Software & Technology. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations.
EQUIPMENT |. Equipment Management. Equipment and Services Directory. Public Exposure and Liability on Construction Sites. MARKETING |. INSURANCE |. General Management. Software & Technology. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations.
EQUIPMENT |. Equipment Management. Equipment and Services Directory. Public Exposure and Liability on Construction Sites. MARKETING |. INSURANCE |. General Management. Software & Technology. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations.
EQUIPMENT |. Equipment Management. Equipment and Services Directory. Public Exposure and Liability on Construction Sites. MARKETING |. INSURANCE |. General Management. Software & Technology. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations.
OSHA fines, liability risks, and potential harm to team members are major concernsand all of these issues can often be traced back to insufficient safety training or poorly implemented safety programs. Safety training creates a workforce thats not only aware of potential hazards but also equipped to manage them.
EQUIPMENT |. Equipment Management. Equipment and Services Directory. Leveraging technology is not limited to heavy equipment, though. Public Exposure and Liability on Construction Sites. MARKETING |. INSURANCE |. General Management. Software & Technology. Accounting & Finance. Construction Law. People Management.
Better logistics and staging —The extended team can easily see where materials and equipment will be staged, increasing oversight and efficiency during project execution. It also reduces liability by enabling more accurate planning and management. Not all the news about BIM from this year’s report was problematic.
EQUIPMENT |. Equipment Management. Equipment and Services Directory. Public Exposure and Liability on Construction Sites. MARKETING |. INSURANCE |. General Management. Software & Technology. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations.
With the amount of money you invest in tools and equipment, it’s crucial to protect those assets no matter where you go. Whichever route you choose, you can get some peace of mind by exploring and purchasing coverage through an equipment floater. . What is an equipment floater? Who needs equipment floater insurance?
EQUIPMENT |. Equipment Management. Equipment and Services Directory. » CBO Visits Equipment Manufacturers. Last week I unplugged my laptop, set aside my to-do list, and spent some time with equipment manufacturers who supply CBO’s readers. Public Exposure and Liability on Construction Sites.
Maybe you are paying for more telephone lines than you need in the office, or for unneeded equipment maintenance. Reports that show all your insurances costs, from workers compensation to cost of construction to general liability, your finance department can see where you are spending too much.
EQUIPMENT |. Equipment Management. Equipment and Services Directory. Public Exposure and Liability on Construction Sites. MARKETING |. INSURANCE |. General Management. Software & Technology. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations.
When you see or hear about construction accidents, they usually involve heavy equipment like cranes or scaffolding. Moreover, workers are injured or killed almost yearly by falling objects or equipment. If the construction company fails to keep the site safe, they could face liability. Who’s Liable For Falling Debris Injuries?
EQUIPMENT |. Equipment Management. Equipment and Services Directory. It’s this kind of business management advice that separates CBO from other construction publications that solely evaluate and discuss equipment. Public Exposure and Liability on Construction Sites. MARKETING |. INSURANCE |. General Management.
EQUIPMENT |. Equipment Management. Equipment and Services Directory. Public Exposure and Liability on Construction Sites » Better Project Management through Better Communication. Public Exposure and Liability on Construction Sites. MARKETING |. INSURANCE |. General Management. Software & Technology.
EQUIPMENT |. Equipment Management. Equipment and Services Directory. Public Exposure and Liability on Construction Sites. MARKETING |. INSURANCE |. General Management. Software & Technology. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations.
In most cases it helpful to separate the building/structure into major systems and run life-cycle costs individually bases upon materials and equipment used. .) + PV DISPOSAL COST – PV Residual Value. Tables of Average Service Life / Years. Air Conditioners. Window Unit 10. Split Package 15. Commercial 10. Water-Cooled Package 20.
EQUIPMENT |. Equipment Management. Equipment and Services Directory. Public Exposure and Liability on Construction Sites. MARKETING |. INSURANCE |. General Management. Software & Technology. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations.
Rigorous oversight, extensive use of Personal Protective Equipment (PPE), and investment in safety and compliance training drive Bob’s profits well above industry averages. With growing scrutiny on job site dangers and liability concerns, prioritizing safety is crucial in sustaining a competitive edge. Let’s look at why that is.
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