Masonry Insurance

Masonry contractors work with a ton of different materials, and sometimes in downright dangerous settings and situations. Not only do you need protection for yourself and your team, but also for your business as a whole. As a unique industry, you also need coverage that's tailored to your specific niche.

Working with an independent insurance agent is the best way to get equipped with the right masonry insurance. They'll make sure your business gets set up with all the necessary coverage. But first, here's an overview of masonry contractor insurance.

Stats for the Masonry Industry 

Finding coverage for your masonry business can be made easier when you have a visual of the industry as a whole. Here are just a handful of stats for the masonry industry.

• There are 95,220 masonry businesses operating in the US this year.
• The masonry industry has grown by about 1.3% annually over the past five years.
• As of this year, these businesses employ 218,408 people.
• On average, each masonry business in the US has 2.3 employees.

Now that you have a better idea of the overall size of the masonry industry in the US, it can be easier to see the necessity of specialized business insurance. All businesses and employees in this field need protection against disasters like workplace injuries and illnesses, vandalism, fire damage, and much more.

Masonry Contractors Need Business Liability Insurance

Liability coverage is required in some states before your masonry business can receive state licensure. Without it, your business cannot legally operate. Also, expect that anyone who hires you to do masonry contracting work will ask you to provide them with proof that you carry liability coverage before you can start.

Liability coverage can shield your masonry business from overwhelming financial losses in the event of a lawsuit by covering legal defense fees, court costs, and settlement damages. However, it's critical to have the right types of coverage. Look into the following types of liability coverage for your masonry business insurance policy:

• Commercial general liability insurance: This covers lawsuit costs if your business gets sued by a customer or other third party for claims of personal property damage or bodily injury.
• Employment practices liability insurance: This can protect your masonry contracting firm from financial losses if your business gets sued for engaging in an illegal practice such as discrimination, harassment, or wrongful termination.
• Commercial auto liability insurance: This covers lawsuit costs related to accidents and other incidents involving company-owned vehicles.
• Commercial umbrella insurance: This can extend the liability coverage limits of your existing policies in increments of $1 million or more to grant you much greater protection.
• Professional liability insurance: This covers lawsuit costs related to professional errors or omissions by you or your employees that cause harm to a third party.

An independent insurance agent can help your masonry contractor business get equipped with all the right types of liability protection.

Why Workers' Compensation Must Be a Part of Masonry Contractor Insurance

Masonry work has a high risk for job-related injuries. Masons can suffer strains from heavy lifting, falls from dangerous heights, or puncture wounds that require medical attention. For this industry, having workers' compensation insurance is a must. 

Worker's comp protects your crew against losses related to work injuries, illnesses, and even death. In turn, it also exempts your employees from filing lawsuits against your business for these incidents. Coverage is often mandatory in most states for many different businesses that have at least one employee.

Masonry Insurance Must Include Business Property Coverage

If you keep a storefront or a central location that displays sample materials and handles administrative paperwork, you need protection for this property with the right commercial property insurance. This coverage can reimburse your business for property damage or destruction caused by a number of different listed perils, including break-ins, vandalism, fire damage, lightning strikes, and more. It also covers your business's inventory, equipment, and other contents kept inside company-owned buildings. 

However, you need different kinds of insurance to protect your building materials, tools, and machinery. You can get this coverage in one of two ways:

• Builders risk insurance: This covers business property, including tools, materials, and equipment, kept on the site of a construction project that's in progress, including that which is owned by subcontractors, for the duration of the job. 
• Inland marine insurance: This covers business property, including equipment and tools, while these items are in transit and being transported between job sites.

Your independent insurance agent can help get your masonry contractor business equipped with the right kinds of commercial property coverage.

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An Independent Insurance Agent Can Help You Find the Right Masonry Insurance

When you're ready to shop for masonry insurance, you can contact an independent insurance agent to help make the job much easier. These agents are available to answer your insurance-related questions and recommend exactly which coverage types are right for your business. They can also help you save money by shopping several different insurance companies for the best available coverage at the best possible rate.