Due to the vulnerability of deteriorating and structurally deficient bridges, there is a need for selective demolition, which is defined as the removal of damaged or low-strength concrete while retaining the healthy concrete.
Hydrodemolition is an efficient, cost-effective, and precise method that removes deteriorated concrete — usually from structurally deficient bridges — with high-pressure water. It also helps to prepare a bridge before the placement of the deck overlay by providing a highly bondable surface.
Having the right hydrodemolition service insurance protects your business from catastrophic litigation costs after an accident and a large claim. A comprehensive business insurance program designed for hydrodemolition services protects you from employee errors, public injuries, property damage, pollution claims, and more.
A local independent insurance agent can help you get the tailored business insurance you need.
Why Do You Need Hydrodemolition Service Insurance?
Hydrodemolition is generally considered to be a safe, controlled, and low-impact concrete removal process. Traditional demolition techniques are known to leave microfractures on the surface of the concrete, and create vibrations that can loosen the rebar supports within the concrete structures.
Hydrodemoltion, on the other hand, removes concrete without vibration, reducing the risk of microcracking and creating a larger exposed area on which to lay a new deck overlay. Hydrodemoltion often eases many of the concerns around demolition of vulnerable bridges, because it can be accomplished with reduced noise and dust pollution, no microfractures, uniform concrete removal, no damage to rebar, and a reduced risk of injury for workers.
But hydrodemolition can also lead to problems with water runoff, water and sewage complications, and increased risks when the project also involves overhead work.
Even with many positive safety implications, hydrodemolition services are still are exposed to dangerous conditions where an employee or a third party can be injured. You could make a mistake and damage a nearby building, or your own machinery or property can be damaged. Improper disposal of pollutants can contaminate the demolition zone or the nearby area.
All of these incidents would likely be followed by serious financial repercussions as you pay for property damage, medical expenses, and even legal expenses if you’re sued (which is likely). A major lawsuit can lead to no less than bankruptcy for your business.
If you own a hydrodemolition service, you must safeguard your business from the unique risks you face by investing in comprehensive, tailored business insurance.
What Does Hydrodemolition Service Liability Insurance cover?
Hydrodemolition service insurance is not one insurance policy, but several policies designed around the unique risks you face. The most important type of coverage you need is general liability insurance.
Commercial general liability (CGL) insurance: This offers broad coverage for third-party injuries and property damage (injuries or property damage that occurs on your premises or as a result of your operations).
CGL insurance can, for example, protect you if people are injured or nearby properties are damaged due to your hydrodemolition work. In these cases, you’d be responsible for paying for medical bills and property damage for anyone who was affected. The likelihood that you’d be sued is very high as well.
CGL insurance covers direct expenses for injury and property damage claims, and it also covers your legal fees and financial settlements or judgments if you’re sued.
CGL insurance is simply a requirement of doing business for hydrodemolition services. Without it, finding and securing customers and jobs would likely be impossible.
What Other Insurance Policies to Hydrodemolition Services Need?
Hydrodemolition service insurance consists of a variety of other insurance policies to cover all of your unique risks.
- Workers' compensation insurance: This protects your employees if they are injured on the job, or if they develop a work-related illness. It will help pay for medical care for an injured worker, as well as any income that the employee loses if he or she cannot immediately return to work after an injury.
- Equipment physical damage coverage: The heavy equipment that you use in your demolition jobs is expensive, and if a crane or some other type of equipment is damaged, it costs a lot to repair or replace it. Equipment physical damage coverage covers the value of the equipment when it is damaged.
- Environmental liability insurance: Various pollutants can be present in the bridges or structures that you demolish, and they can impact the air and ground water near a demolition site. The release of smoke, dust, and other toxins at a demolition site are also problematic. Environmental liability insurance covers a variety of pollution exposures that you face.
- Commercial umbrella insurance: Financial payouts for lawsuits often reach well over the $1 million limit on a typical CGL policy. Most of your customers will require you to have more coverage than that, or excess liability coverage in the form of a commercial umbrella policy. Commercial umbrella insurance provides liability limits above and beyond certain other liability policies (CGL, commercial auto) at a more affordable cost than increasing the limits of several individual policies.
- Commercial property insurance: This covers your buildings, workspaces, and all kinds of commercial property including equipment, tools, office furniture, computers, and more if they’re damaged or destroyed by fire, smoke, theft, vandalism, or a weather event.
- Business interruption insurance: This reimburses you for lost income and helps pay for certain ongoing expenses if you are temporarily unable to operate due to a covered loss (fire, weather, vandalism, etc.).
- Inland marine insurance: Protects your equipment, tools, portable computer equipment, and other supplies from theft, loss, or damage while they are in transit to and from worksites.
What Are Contractors Bonds and Do You Need them?
You might need a variety of contractors bonds, or surety bonds, depending on the size and scope of the projects that you work on. Bonds are very important for contractors who work on municipal construction sites. And you may be required to have certain kinds of bonds in order to secure the required licensing that you need.
Contractors bonds can be essential for finding, securing, and performing work. They are typically used to guarantee some aspect of the bidding process or building project and ensure the project owner that you are fully licensed, insured, and prepared to complete the project as promised.
Every type of bond is unique and tailored to a specific project. While you may not need them for every job, it’s likely that you’ll need various types of contractors bonds for most of the jobs that you do.
How Much Does Hydrodemolition Service Insurance Cost?
Hydrodemolition service insurance costs will vary depending on the size of your business, the number of employees you have, and how much commercial property (buildings, tools, and equipment) you have.
Insuring your business is complex. The types of coverage you need and can qualify for depends on several variables. You may need to find coverage through a specialty insurer who specializes in businesses like yours.
An independent agent who has experience working with hydrodemolition services can help you decide the types and amounts of coverage you need for your business. The choices you make will determine your cost of coverage.
Find and Compare Quotes
An independent agent can work with you one-on-one to determine the types and amounts of coverage you need. Your agent can get quotes from multiple insurance companies so you can evaluate the cost and coverage options and make the best choice.
Benefits of an Independent Agent
Our agents simplify the search process for finding the right hydrodemolition service insurance. They’ll walk you through the handpicked policy options and explain the details.
Most importantly, they’ll be there for you when claim time comes. They know the ins and outs of the process and will make sure your claim is handled appropriately.
The Lowdown on Online Quotes
Online quotes can be tempting. They are fast and easy to get — but are they accurate? And are you getting quotes for the right coverage? For business owners, choosing speed over accuracy can cost you.
Online quotes can’t and don’t see the whole picture. They can omit important coverage that will leave you devastated if something unexpected happens. And they can leave out cost-saving opportunities that an agent can help you take advantage of.
Instead of getting an online quote, find an independent insurance agent now, and get one-on-one consultation and affordable options for the best coverage for your unique needs.
TrustedChoice.com Article | Reviewed by Paul Martin
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