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Important Construction Insurance

Owners of construction companies face different risks every day. Construction Insurance is mandatory for every project. Your business will be protected by insurance, which can cover you for risks and disasters, as well as material, human, and physical injuries.

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Important Construction Insurance

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  1. BGES Group Insurance

  2. Owners of construction companies face different risks every day. Construction Insurance is mandatory for every project. Your business will be protected by insurance, which can cover you for risks and disasters, as well as material, human, and physical injuries.

  3. Liability Insurance Liability Insurance protects contractors from injuries, property damage, and accidents to third parties. Construction companies are often on another person's property while working on a project. If an employee causes property damage that is not covered by the contract, liability insurance will protect you. It will protect the client's loss as well as any gain you may have. Construction companies often have heavy equipment on site. Clients and other visitors will also be present to check progress. Liability insurance will protect you in the event that someone is injured while your company is operating. For example, if a client is struck by a falling object, and is hurt, then liability insurance will cover you.

  4. Workers' compensation is a program that helps companies to pay for the benefits of employees who are injured on the job. The coverage will cover lost wages, medical costs, and rehabilitation costs related to getting the employee back on their feet. Some states do not require workers comp insurance. Many states require coverage for each employee, whether they are legal or illegal, if there are more than one. Even though you don't have to have Worker Comp Insurance, it can be an important part of your company’s risk management. If your company doesn't have the right coverage, and an employee gets hurt on the job, you will be responsible for all costs. You can see the financial impact it can have on your company, considering how high medical costs are today.

  5. Website: BGES Group Insurance External Links: Builders Risk Insurance Contractor Insurance General Construction Insurance Types Of Construction Insurance Workers Compensation Insurance

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