You have finally decided to build that new structure; you have saved and waited until the timing is just right. Now comes the planning and preparation for the new building to be constructed on your property. Planning for the new structure will involve a lot of research from bank loans to the right type of insurance coverage for the building and the project.
As you begin your selection of contractors for your new structure, be sure to look for post-frame building contractors who have ample liability insurance during and after the build out. Request to see a certificate of insurance coverage from your contractor.
Post-frame building contractors provide a vital service during the construction of your project by following the building code and guidelines for bracing and strengthening the building. During the build contractors endure numerous risks and challenges.
The risk involved in building a post frame structure
The post-frame building contractors face many challenges while building the pole building structure. The variety of physical demands and risks during this demanding process are often influenced by the weather and the need to get the framing done in a timely manner. The extra demands and risks are the main reason why post-frame building contractors should have insurance to cover any type of incident that may occur while the building is being constructed and after the building is completed. You may not even consider the smallest incident to be a major risk, but it could be.
Consider the risks and challenges the contractors face while constructing your new building. A dropped hammer from a contractor on a ladder can cause injury to another worker in the area or to personal property. Being prepared before any type of accident, no matter how trivial could save you costly repairs and legal fees. By selecting contractors who have full insurance coverage, you are minimizing your overall risks.
Insurance Coverage
Even when your contractors have insurance, you may have to purchase additional builders risk insurance. Knowing the type of accidents or incidents to have covered could save you money, stress and legal fees. When looking for an insurance plan for a project, make certain these types of incidents will be covered under a policy.
Any type of bodily injury which should include hospital costs, medical care and court-mandated compensation.
Property damage
Workman’s compensation will cover the post-frame building contractors’ wages if an accident should occur. When insurance can cover wages during a work related accident, the amount of money saved could keep a business from financial ruin.
Any type of accident involving the use of equipment for the job. Accidents do occur; having coverage for these can be a cost saving measure.
The more an insurance policy covers; the better prepared you will be in case an emergency. Building contractors who are adequately insured are the best choice. Knowing the type of additional insurance you may need is vital component during the research and planning period of your structure. An insurance policy could save you money in many different areas including attorney fees, court costs, and any type of documentation needed to help in the aid of your defense in the case.
