Paving contractors face significant risks since they use heavy equipment and typically employ many employees. Without proper insurance coverage you’re exposed to claims for third-party bodily injury, employee and subcontractor injury, and property damage.
These insurance products are common building blocks when crafting insurance coverage for paving contractors.
General Liability Insurance for Paving Contractors
Liability insurance is a core insurance product necessary for all business. It protects companies from the costs associated with lawsuits if your company or an employee damages property or injures someone.
Lawsuits are expensive and these costs can quickly overwhelm any business, even if you did not cause the damage or injury. If you are found to be at-fault, you will pay even more since you’ll have to replace damaged property and pay medical bills and the judgment against you.
General liability insurance not only pays these fees, but your defense costs when someone files a claim against you. It also protects you from the costs associated with a claim for libel, slander, copyright infringement and other actions that may potentially cause another person or business harm.
The frequency and magnitude of property damage is often higher than in other industries since you operate heavy equipment. Large, noisy, cumbersome pavers, graders, dump trucks, rollers, and other large vehicles can unintentionally destroy property. Spivey Insurance Group can arrange essential coverage, before problems arise.
Paving Contractors’ Workers’ Compensation
Paving contractors often employee seasonal workers to earn more income during the busy spring and summer months. If you employ more than 3, full or part-time employees, they’ll need workers’ compensation insurance coverage.
Workers’ compensation insurance provides financial protection if a worker is injured or becomes ill while working. It pays medical bills and compensates employees for lost wages if they cannot work.
Spivey Insurance Group has helped North Carolina business with their workers’ compensation needs for over a quarter of a century. We’ll ensure you comply with North Carolina Industrial Commission’s statutes. With proper employee classifications, you’ll avoid hefty fines and minimize costs too.
Commercial Auto Insurance for Paving Contractors
Paving contractors often use many vehicles to transport materials and tools and visit job sites. Commercial auto insurance protects these vehicles and provides you with financial compensation if an employee causes an at-fault accident or incident.
Spivey Insurance Group customizes your policy to suit your unique needs. We’ll ensure you’re covered for the costs associated with bodily injury and medical treatments. We’re a full-service insurance agency with access to many high-quality insurance products and we work for you, not the insurance companies.
Paving Contractor Surety Bonds
Most private and government agencies require a bond from their paving contractor to ensure their credibility and trustworthiness. North Carolina also requires a surety bond for a license or renewal if the job exceeds $30,000.
Spivey Insurance Group can provide you with a bond or a statement of bonding ability when needed. Why use many services when you can rely on us for all your insurance needs?
We offer top-notch service, highly-competitive rates, high-quality insurance products, and tailored coverage. Don’t spend more than necessary for excellent protection. Let us work for you, close insurance gaps, and care for your business.