What Is Excavation Contractor Insurance??
Vermont businesses that grade construction sites and demolish old structures are exposed to substantial risk, including liability-related and property-related risks. Excavation contractor insurance offers these businesses protection from many of the risks they face.
Excavation contractor insurance policies are specialized commercial policies that have been crafted to meet the unique needs of excavators. In order to protect against these businesses’ various risks, most excavation contractor policies bundle multiple coverages together into a package policy.
What Vermont Businesses Are Excavation Contractor Policies Right For?
In broad terms, the majority of Vermont businesses that specialized in the excavation of structures and/or land can likely benefit from the protections found in an excavation contractor policy. Additionally, normally only these businesses purchase excavation contractor policies.
Businesses that offer both excavation and construction services usually need both an excavation contractor policy and a general contractor policy. Excavation contractor policies frequently don’t cover actual construction, and contractor policies frequently exclude excavation. Thus, a separate policy is usually necessary to cover each type of work.
Any business that’s unsure whether an excavation contractor policy is necessary or sufficient should speak with an insurance agent who specializes in these policies. A specialized agent will be familiar with excavation contractor policies’ protections and exclusions, and such an agent will be able to give an informed policy recommendation.