Construction Business Owner

DECEMBER 13, 2021

Common expenses for operating a construction business include labor, materials, insurance, permits, office space, vehicles, trailers and other incidentals. Despite its simple appearance, the financial equation of “revenue - expenses = profit” is so complex, there are few who truly understand it.

Negotiation 296

Negotiation Permits Insurance Profitability 296

Construction Business Owner

DECEMBER 5, 2014

According to the National Insurance Crime Bureau, as much as $1 billion in construction tools, equipment and materials is stolen nationwide each year, 90 percent of which is taken directly from construction sites. Throughout the last decade, the construction industry has spawned an entirely new black market industry—construction theft.

Security 272

Security Risk Insurance Equipment 272

Job Order Contracting

JULY 19, 2020

liability insurance and allowance for small tools and consumables. Material costs are either. Liability insurance based upon local contractor rates is also added as a percentage. Material Costs. Material costs are local for commodities such as concrete, asphalt and aggregate. Quality / Quantity.

Estimating 213

Estimating Overhead Construction Liability 213

Levelset

MARCH 21, 2022

Even though the insurance company isn’t your customer, the property owner may be depending on that insurance check to pay for your work. Meanwhile, you’re incurring expenses that drain your bank account, like purchasing materials and paying employees. Restoration contractors can spend a lot of time waiting for payment.

Cash Flow 98

Cash Flow Insurance Lien Management 98

Pro Builder

MAY 10, 2021

FEMA Moves to Improve Flood Insurance Program. NAHB Policy Brief | The next phase of the National Flood Insurance Program is supposed to better reflect the actual risks to properties; builder confidence increased during April. . As a result, some insurance rates will go up while others will go down. Mon, 05/10/2021 - 06:00.

Insurance 97

Insurance NAHB Risk Housing 97

Levelset

MARCH 31, 2022

As a contractor, you rely on the property owner to pay you for your work and materials. In turn, the owner is relying on the insurance company to pay their claim. After all, the faster the insurance company pays the owner, the quicker you can get paid ! You may feel the urge to step in and help with the adjuster.

Insurance 93

Insurance Deals Contractors Claims 93

Construction Business Owner

MAY 8, 2019

Your leadership team spends hundreds of hours agonizing over any one project's schedule—what workers should be hired for which phase of the project; what materials should be shipped to the site when; when and how often project owners should be brought in for a status update; and more.

Insurance 120

Insurance Schedule Environment Materials 120

Job Order Contracting

APRIL 26, 2022

An actionable unit price cost database includes granular repair, renovation, maintenance, and new construction tasks for the local market and includes labor, material, equipment, crew, and productivity information, per an associated unit of measure. for the local market. Profit and overheads should be considered separately.

Estimating 264

Estimating CSI Procurement Construction 264

Construction Business Owner

DECEMBER 4, 2023

mhodges Mon, 12/04/2023 - 08:13 According to Joe Tejeda, Practice Leader for PCF Construction, one of the most pressing issues in the construction industry today is the unforeseen or unintended increase in risk exposures due to rising construction material costs.

Insurance 156

Insurance Risk Security Contractors 156

Construction Business Owner

JUNE 27, 2023

Water damage resulting from inefficient or ineffective water management on jobsites causes significant losses for contractors resulting from delays, material costs, remediation and removal, reputational damage or skyrocketing insurance premiums.

Insurance 156

Insurance Materials Contractors Management 156

Construction Enquirer

JUNE 22, 2023

HM Revenue & Customs is turning the spotlight on claims for rising materials costs under the industry’s CIS tax scheme. It’s quite apparent that this is part of a targeted campaign aimed at challenging the materials cost element included in invoices submitted by subcontractors for services provided to contractors. “A

Claims 100

Claims Materials Subcontracting Contractors 100

Job Order Contracting

SEPTEMBER 18, 2023

3 Building a Detailed Estimate The best approach to completing is to create a detailed line item estimate via a quantity take-off and associating granular labor, material, equipment, and productivigy data for each line. This will provide you with a clear technical and cost view of the project. #4 expanded CSI Masterformat ). #5

Estimating 246

Estimating Construction CSI Compensation 246

Viewpoint Construction Technology

JUNE 12, 2013

For example, if you completely own a piece of equipment, you probably estimate the amount of fuel that it uses on a job, but may not consider including the depreciation, insurance, maintenance, and other costs associated with running it. All of these expenses are important to include for your bid to be accurate.

Bidding 325

Bidding Profitability Construction Cash Flow 325

Construction Marketing

FEBRUARY 17, 2022

It covers land acquisition costs, building materials, construction permits, labor, contingency and interest reserves, closing costs, and plans. Find out if you can use your land equity towards your down payment, how they pay construction draws, and if the contractor can request a draw to cover material costs.

Construction 283

Construction Budgeting Budget Drawings 283

Construction Business Owner

JANUARY 18, 2016

Construction companies constantly seek insurance solutions that can provide material financial impact, limit their contractual exposures and provide coverage enhancements. The following are four strategic solutions which can provide substantial financial protection for construction companies.

Insurance 120

Insurance Materials Construction 120

Construction Business Owner

JANUARY 18, 2016

Construction companies constantly seek insurance solutions that can provide material financial impact, limit their contractual exposures and provide coverage enhancements. The following are four strategic solutions which can provide substantial financial protection for construction companies.

Insurance 120

Insurance Materials Construction 120

Job Order Contracting

FEBRUARY 7, 2020

These include soft costs – general conditions, insurance/bonding, fees/permits, as well as direct costs for material, equipment, and labor in elemental CSI MasterFormat data architecture.

Construction 226

Construction Procurement Documentation CSI 226

Pro Builder

JUNE 17, 2021

Managing Rising Construction Costs: Insurance. Builders and remodelers may be subjected to coinsurance penalties as a result of rising building material prices if they do not make changes to their policies. If the insured fails to maintain the coverage, possibly due to changing costs and values, the insured is subject to a penalty.

Insurance 52

Insurance Management Remodeling Construction 52

Building Radar

JULY 15, 2024

Navigating the insurance requirements for construction projects can be daunting. Insurance plays a crucial role in managing risks and ensuring the successful completion of any construction project. For more details on CGL insurance, visit Construction Coverage. Explore Stonemark’s insights on project-specific insurance.

Insurance 52

Insurance Liability Construction Risk 52

Levelset

JUNE 3, 2022

Project loss insurance has the potential to save contractors from devastating project losses, no matter the cause. Project loss insurance, or PLI, is designed to mitigate catastrophic construction project losses. Project loss insurance coverage. How project loss insurance works. How much does project loss insurance cost?

Insurance 52

Insurance Cash Flow Claims Contractors 52

Levelset

SEPTEMBER 23, 2022

Luckily, that’s what insurance is for, right? Does a general contractor’s insurance cover their subcontractors’ accidents or mistakes? While there isn’t a cut-and-dry answer to these questions, we’ll take a deeper look into insurance coverage and what happens in these situations. Who is covered by an insurance policy?

Insurance 52

Insurance Liability Accidents Risk 52

Levelset

OCTOBER 14, 2022

Plumbing contractors should include business insurance as an integral part of their financial strategy. With numerous policies available, the plumbing contractor’s insurance landscape offers many ways for you to protect your physical and financial business assets. What is plumber’s insurance? Worker injury.

Insurance 52

Insurance Liability Injury Compensation 52

Levelset

SEPTEMBER 30, 2022

Insurance is one part of a strategy to keep your carpentry business financially healthy. To minimize any financial damage, a comprehensive carpenter’s insurance plan is a smart bet. . What is carpenter insurance? Does a carpenter need insurance? Insurance serves another purpose.

Insurance 52

Insurance Liability Accidents Injury 52

Pro Builder

OCTOBER 21, 2022

As Florida markets work to rebuild from devastating Hurricane Ian, homeowners are confronted with inflated prices for building materials, adding insult to injury amid comprehensive recovery efforts across the Sunshine State. Building material prices fell 0.3% Building Materials. Building Materials.

Florida 98

Florida Insurance Materials Injury 98

Levelset

AUGUST 26, 2022

When working in construction, your insurance policy gets issued as a fairly standard contract. Like a basic construction agreement, you can upgrade or downgrade your insurance policy just as a customer might do with the fit and finish of a building. What is an insurance endorsement? How insurance endorsements work.

Insurance 52

Insurance Liability Equipment Agreement 52

Levelset

SEPTEMBER 16, 2022

Your base insurance policy may offer some coverage for unexpected damage to some business property, but making assumptions about the extent of coverage could lead to some financial distress. . An equipment floater offers insurance protection for your business property as it moves from location to location. What is an equipment floater?

Insurance 52

Insurance Equipment Contractors Risk 52

Safety Services Company

APRIL 8, 2025

Consider project delays, legal battles, insurance rate increases, and the damage done to your companys reputation. Lower Costs and Fines The up-front cost of safety training pales in comparison to the cost of OSHA violations, legal fees, and skyrocketing insurance premiums. Think about it as paying for peace of mind.

OSHA 86

OSHA Safety Risk Mobility 86

Levelset

AUGUST 5, 2022

Construction insurance can be confusing. Each contractor and party to the project has their own insurance, which may or may not be adequate to protect the work they’re performing. Learn more: What types of insurance do contractors need? Learn more: What types of insurance do contractors need? CCIP vs. OCIP insurance.

Insurance 52

Insurance Liability Claims Construction 52

HardHatChat

OCTOBER 31, 2017

As we planned to provide immediate assistance to our clients in Florida, we were sure to plan for resources unlikely to be available in the aftermath of a storm – namely, electricity, construction materials and manpower.

Commercial 207

Commercial Plans Puerto Rico Florida 207

Construction Marketing

FEBRUARY 22, 2021

Check out several tips to ensure a successful roof installation below: 1) Choose The Right Material. If you want a successful roof installation, a significant consideration to think about is the roofing material. When choosing the right materials, some essential factors to keep in mind are its price, appearance, and lifespan. .

Materials 156

Materials Documentation Contract Contractors 156

Viewpoint Construction Technology

SEPTEMBER 27, 2018

We know many of you have had a busy summer, so it’s a good time to take a breath and see what’s been going on in our industry (like rising material costs), as well as what’s on the horizon (like more green building ). The prices of construction materials like metals, asphalt and gypsum have increased since last year.

Industrial 162

Industrial Construction News Insurance 162

Job Order Contracting

FEBRUARY 24, 2018

Employee payroll taxes, insurance, and fringe benefits. All waste and excess material. Sales tax on material and equipment costs. Subcontractors’ overhead and profit. All costs associated with bonding (specifically including bond premiums). Clean up.

Overhead 100

Overhead Permits Insurance Contract 100

Construction Marketing

JANUARY 6, 2023

Less than 25% of stolen construction materials are returned to the company. It is known for construction site staff to steal equipment while on the job, which is why keeping detailed logs of who has each item can help you to spot and protect yourself against potential theft, which you might need to make an insurance claim for down the line.

Security 291

Security Site Mobility Construction 291

Construction Marketing

MARCH 18, 2021

It costs a lot to buy the materials you need, and you’ll have to hire a licensed professional to come and do the work. It’s also best to work with a licensed and insured plumber so that the work is guaranteed high-quality and safe. That’s nice, especially if you’re on a tight budget or running low on cash. .

Insurance 273

Insurance Budget Budgeting Commercial 273

Pro Builder

APRIL 19, 2022

As prices for building materials continue to rise, so too does the incentive for thieves overtaking construction sites. The scarcity of in-demand building materials like copper, aluminum, and lumber has led to significant price gains, and thieves are taking note, says Deseret News. Building Materials. Building Materials.

Site 98

Site Construction Materials Insurance 98

Job Order Contracting

SEPTEMBER 28, 2016

Example include, general and administrative and other overhead costs, insurance costs, bonding and alternative payment protection costs, protective clothing, equipment rental, and contractor’s profit. Employee payroll taxes, insurance and fringe benefits. All waste and excess material. Sales tax on material and equipment costs.

Contract 100

Contract Overhead Insurance Profitability 100

Construction Marketing

JULY 30, 2019

Consider Insurance and License. Besides that, if they are insured, you can be sure they will not become a liability in case they suffer an injury in the process of doing their job. Besides that, if they are insured, you can be sure they will not become a liability in case they suffer an injury in the process of doing their job.

Contractors 120

Contractors Insurance Compensation Liability 120