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Alberta Excavation Insurance
Excavation contractors are regularly faced with considerable liability risks with every earth moving job. Some of these exposures include:
- Risks related to meeting the ideal grades for water runoff and adequate soil compaction
- First party property damage to your excavating equipment
- Risks related equipment operator error
- Damage to underground utilities, causing significant and widespread damage
- Employee injury due to falling from the equipment, injuries from strains, begin caught under heavy equipment and materials
At Leibel Insurance Group, we have a specialized team that can guide you to the best insurance products available. We strive to be your one-stop shop for Excavation Insurance. Your broker will help you with everything from general liability, professional liability and equipment insurance to crime insurance, workers compensation and pollutions liability.
Understanding The Excavating Insurance That You Need
As an excavation contractor, you perform a number of different jobs, such as every phase in the preparation of a construction site, land grading, septic installation, road work and drainage systems. Leibel Insurance Group has special programs that address the needs of your profession. We can provide you with broad coverage at competitive rates, regardless of the size of your company.
Commercial Liability Insurance
Liability Insurance is the most important type of Excavation Contractor Insurance. It will provide you with coverage for the cost of your defense if a claim is brought against you for property damage or bodily injury that is related to your business operations.
Even though this will provide you with a wide range of coverage, there are a number of exclusions, such as mobile equipment, automobile, workers compensation, aircraft and watercraft that may require specific policies. While property damage of others is covered, damage to your product is not.
The liability coverage of a personal policy, such as a home insurance policy, will specifically exclude the coverage of any kind of business operations. Therefore, even if you run your excavation business out of a home office, you will still need commercial liability insurance.
As an excavation contractor in Alberta, you may be required to carry proof of insurance to satisfy your customers or general contractors. In some cases, you may be asked to include them as an additional insured on your Excavation Insurance policy. This is not a problem, we can work with you to accommodate such requests.
Commercial Property Insurance
If you own your own shop, you will require additional coverage. Some contractors work out of their home garage or use it to store materials, hardware, equipment and tools. As mentioned previously, this type of use is not likely to be covered by a home insurance policy.
In order to obtain adequate coverage, you will need to include commercial property insurance in your policy. This will provide you with protection for the build and its contents, business interruption coverage and more.
Commercial Vehicle Insurance
It is never wise to have your commercial automobiles on a private insurance policy because you will not have adequate coverage. In addition, you do not want to include your personal vehicles on your commercial policy unless they are used during the course of your work.
It is vital that you make sure that you will be protected from any liability that comes from an employee that is using their own vehicle to run errands for your company. Ask your broker about special commercial vehicle coverage on your Excavating Insurance.
Employee Dishonesty Insurance
Depending on the way that you handle your finances, you may also need employee dishonesty insurance to protect you from money that is stolen by an employee or property loss.
Inland Marine Insurance
As an excavation contractor, you have a great deal invested in heavy machinery, loaders, specialized tools and other equipment. These items may be at the job site, on a truck or at your shop. Since these things are moved often from one place to another, you will need to protect them with inland marine insurance.
Even with a commercial auto insurance policy, your materials, tools and equipment will not be adequately covered. For this, you will need to invest in inland marine coverage with your Alberta Excavation Contractor Insurance.
Workers Compensation Insurance
Workers Compensation is another type of important coverage to include in your Excavating Insurance policy. This will protect you against your obligation to pay for the medical expenses and lost wages of an employee that suffers from a job related illness or injury.
These are only some of the types of coverage that you will need to include on your Excavation Contractor Insurance policy. The experienced brokers at Leibel Insurance Group can provide you with all of the details that you need in order to choose the coverage options that best suit your situation and your budget. Click on the quote request button now for a risk free quote.
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