Liability Insurance for

EXCAVATION CONTRACTORS

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Excavation Contractor Liability Insurance

Excavation contractors are responsible for everything from site preparation and grading, to soil transportation and digging. Workers in this profession use heavy machinery and equipment on a daily basis, which can put them at risk for injuries and lawsuits. Because of this, having excavation contractor liability insurance is valuable.

Even if you follow all the right safety measures, accidents can and do happen. For example, if someone gets injured on a job site, or one of your workers damages property, you could face a lawsuit. Also, liability claims can be incredibly costly. That might put your business in a bad financial position if you have to pay to resolve the claim out-of-pocket.

If you own an excavation contractor business, having liability insurance is important. This type of insurance will protect your business against third-party claims of bodily injury, property damage, problems with completed operations, and more. Insurance may also be required to get a business license in your state.

What Excavation Contractor General Liability Insurance Covers

Excavation contractor general liability insurance policies are multi-faceted. It covers a wide range of risks that you might face as an excavation contractor or business owner. Here are the various coverages you will get when you purchase an excavation contractor liability insurance policy.

Bodily injury. Bodily injury liability insurance protects your business in bodily injury claims. For example, if someone gets injured on a job site or at your place of work, and you are found to be at fault, this policy will cover third-party injuries, as well as your legal defense if you get sued.

Property damage. Property damage liability insurance applies when you accidentally damage someone else’s property. For example, if you accidentally knocked over a fence while operating a bulldozer, this policy would pay for the repairs.

Products and completed operations. Excavation contractors work on complex, multi-phase jobs. As a result, things can go wrong even after the job is done. For example, if an issue arises after you leave the job site and it’s determined that you are responsible, products and completed operations insurance will cover your legal costs and any other costs that come out of the claim.

Medical payments. Medical payments coverage applies in third-party bodily injury claims. For example, if one of your workers is using a grading machine and they accidentally run into someone, this policy would pay for the person’s medical bills, like an ambulance ride, hospitalization, surgery, rehab costs, and lost wages.

Personal and advertising injury. Personal and advertising injury insurance applies in claims of slander, copyright infringement, libel, and other types of deformation. For example, if you aired a radio advertisement and talked badly about a competitor, they could sue you. However, personal and advertising injuries would cover your legal costs.

Damage to Premises Rented To You. If you rent a physical office space to conduct your business, excavation contractor liability insurance will cover certain types of property damage. Additionally, it will also cover rented space where you keep equipment and vehicles. Common examples of covered claims include weather-related damage, vandalism, and fires.

Losses That Excavation Contractor Liability Insurance Doesn’t Cover

Excavation contractor liability does not cover every risk you might face as a business owner. Excluded losses include:

  • Intentional injuries or property damage
  • Injuries to employees
  • Tools and Equipment

Make sure to closely review your policy documents to ensure you understand what is and is not covered. Keep in mind that every policy is slightly different.

How Much Is Excavation Contractor General Liability Insurance

The cost of excavation contractor liability insurance depends on a variety of criteria that are unique to your business. When you apply for a policy, some of the biggest factors that will impact your premium are the state your business is located in, the number of employees you have, your policy limits, and your deductible.

The cost of general liability insurance for excavation contractors starts at $47 per month or about $760 per year.

Excavation Contractor General Liability Costs

GENERAL LIABILITYPopular

$ 47

month
  • Unlimited Certificates
  • $100,000 to $5,000,000 Limits
  • $250 Deductible Available
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WORKERS COMP

$ 134

month
  • Unlimited Certificates
  • $100,000 to $1,000,000 Limits
  • Medical Care Coverage
  • Disability Coverage
Get a Quote

TOOLS & EQUIPEMENT

$ 17

month
  • Unlimited Certificates
  • $10,000 to $500,000 Limits
  • Trailer Coverage
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COMMERCIAL AUTO

$ 99

month
  • Unlimited Certificates
  • $100,000 to $1,000,000 Limits
  • Hired /None Owned Cvg
Get a Quote

How To Get Excavation Contractor General Liability Insurance

Before you purchase excavation contractor liability insurance, there are several things to keep in mind. Here is what we recommend:

  • Survey your risks. Every business faces a different amount of risk, based on the types of jobs you work on, where you work, and the number of employees you have. Generally speaking, the more risk your business faces, the more insurance coverage you should have.
  • Set a deductible. You must pay a deductible in the event of a claim. Choosing a higher deductible will result in a lower premium, and vice versa. Before you purchase insurance, choose a deductible that you can easily afford if you have a claim.
  • Buy enough coverage. No business owner expects to suffer a major loss, but they do happen. Ultimately, insurance is only beneficial if you have enough coverage to pay a claim in full. Otherwise, you may have to pay out-of-pocket, which could put your business in financial jeopardy.
  • Understand your policy. Excavation contractor liability insurance policies are not all the same. You should understand your policy completely before you purchase coverage in case you have questions, need to adjust your policy limits, or need to add additional policies for more protection.
  • Talk to an agent. It’s always a smart idea to talk to an agent before you purchase a business insurance policy. This is especially true if you are buying business insurance for the first time, or are unfamiliar with insurance terminology.

Other Insurance For Excavation Contractor

In addition to general liability insurance, excavation contractors can benefit from other insurance policies, as well. You can sometimes bundle these policies to get a lower premium. Here are some other kinds of insurance to consider for your business:

  • Business Personal Property
  • Commercial Auto Insurance
  • Workers Compensation
  • Tools Coverage
  • Surety Bond
  • Excess Liability Insurance