Excavation Contractor Insurance

As an excavation contractor, your main job may be moving dirt around before construction projects can begin. But as you know, it’s never as simple as just digging. You often have specific measurements to abide by, depending on if you’re digging for a road or building to be constructed, or if your job is to bury gas or water lines underground. No matter what today’s excavation project entails, you deserve to be fully covered by an excavation contractor insurance policy that you can count on.

General Liability

Property Coverage

Auto Insurance

Workers Compensation

Tools Coverage

General Liability Insurance for Excavation Contractors

General Liability (GL) insurance is essential for excavation contractors. You’re working on large projects with heavy equipment, which means the risk of property damage or third-party injuries is always there. General liability coverage helps cover those costs, so a simple accident doesn’t turn into a huge financial burden.

Coverages:

Each Occurrence: Covers incidents like a pedestrian tripping over a pile of debris at your worksite or damage caused to a nearby building from your equipment.
Damage to Rented Premises: If you're leasing equipment or renting a workspace and cause damage, this part of your GL insurance will cover repairs.
Medical Expenses: If someone, like a subcontractor or even a visitor to the job site, gets hurt and needs immediate medical treatment, this part of the policy kicks in.
Personal and Advertising Injury: Defamation or advertising-related claims might sound unlikely for an excavation contractor, but you never know when a marketing slip-up could land you in trouble. This covers legal fees or settlements in those cases.
General Aggregate: This is the maximum amount your policy will pay during a policy term for all covered claims.
Products/Completed Operations: Covers any claims that arise after the work is completed, like if the grading you did causes structural issues down the line.

Excavation Contractor Tools Coverage

As an excavation contractor, you rely on certain tools and equipment to do your job right. Some of the items you use on a daily basis might include backhoes, bulldozers, trenchers, front-end loaders, and dump trucks. These necessities tend to be large and expensive, so if they were ever lost or stolen, you would probably have to pay thousands of dollars to replace them. But when you add tools and equipment coverage to your excavation contractor insurance policy, you don’t have to worry about this issue. This coverage pays to replace your equipment and tools, whether they’re rented or owned by you.

Excavation Contractor Bond

When you work as an excavation contractor, you typically need a surety bond before you can even bid on a project. Even when you don’t have to have one, you should get one, since this will help customers feel confident that you’re going to complete the job as promised. In this way, surety bonds can protect your customers and help you get more excavation projects. Take a look at some of the most common surety bonds that contractors of all kinds would benefit from:

Contractor’s License Bond
Contract Bond
Performance Bond
Bid Bond

How To Get Excavation Contractor Insurance

Getting the most accurate excavation contractor insurance policy quotes is as simple as contacting us and telling us your location and desired coverage. If you’re not sure what kind of coverage you want, our website goes over each option in depth.

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How Much Is Excavation Contractor Insurance?

Part of getting the right excavation contractor insurance is ensuring that your policy fits within your budget. You can determine this by checking out some general estimates, such as the following:

General Liability Insurance for an Excavation Contractor starts around $950 every year.
Tools Coverage for an Excavation Contractor starts at $400 a year for $10,000 in tool inventory.
Auto Liability Insurance for an Excavation Contractor starts at $950 a year for a pickup truck.