Patio Construction Company Insurance

Your Guide to Patio Construction Company Insurance

Everything you need to know.

Patio Construction Company Insurance

Proper patio construction can beautify a yard. But done wrong, patios can be unsightly and can even cause drainage issues that compromise a home’s foundation. For these and many other reasons, patio construction companies face a wide range of risks that can be financially devastating.

But patio construction company insurance can help you protect your business. You need an experienced independent insurance agent to help you assess your risks and find the right business insurance policies from highly rated insurers.

Why Do You Need Patio Construction Company Insurance?

Patio construction companies want to design and construct beautiful patios. However, it's critical to ensure proper drainage, protect the home’s foundation from any negative effects, and make sure the concrete or bricks that you use are appropriate for the conditions and will stay in place for the long term.

What’s more, your employees are working on someone else’s property with dangerous tools and equipment, sometimes for days. A single mishap that leads to injuries or property damage could lead to the loss of everything you’ve worked to accomplish.

Patio construction company insurance helps you mitigate the costs related to employee injuries, equipment and materials damage, motor vehicle accidents, lawsuits, and a variety of other costly problems that can occur while you work.

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Liability Insurance for Patio Construction Companies

You need liability insurance for occasions in which your business is negligent and causes bodily injury or property damage to a third party. In these cases it’s likely that you’ll have to pay for medical bills or property pairs, and it’s good possibility that you’ll be sued for additional damages. You’ll likely need several liability insurance policies.

Your commercial general liability (CGL) policy protects you in the event of third-party lawsuits, with coverage for attorney fees, court costs, settlements, and judgments up to the limits of your policy. CGL insurance would respond when a customer claims you damaged their property while constructing a patio, or when a vendor trips and falls while making a delivery at your office or workshop.

If you own trucks or other vehicles, commercial auto insurance covers your owned vehicles and drivers in the event of an accident or other vehicle damage that occurs. Commercial auto insurance provides coverage for property damage and bodily injury liability claims, vehicle damage, and medical bills, as well as any costs related to lawsuits due to auto accidents involving your vehicles.

Commercial umbrella insurance provides an extra layer of liability protection to any of several other liability policies you might have. Commercial umbrella insurance kicks in when the limits of your other applicable insurance policies have been exhausted, protecting you in the event that a claim exceeds the amount of coverage available from any other applicable policy.

Property Insurance for Patio Construction Companies

Patio construction companies need to protect their valuable property and equipment. You’ll likely need the following types of insurance to cover your commercial property when it’s damaged or destroyed by an unexpected event.

  • Commercial property insurance: This covers your office space, warehouse, workshop, or other buildings and their contents for losses due to fire, theft, vandalism, weather events, and more.
  • 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, storm, etc.).
  • Extra expense coverage: This pays for non-ordinary expenses (e.g., buying or leasing equipment for a temporary site, paying overtime, hiring temp workers) that are above and beyond your normal operating costs if you can’t operate out of your usual location or if your equipment is damaged from a covered event.
  • Inland marine insurance: This is another form of property insurance that protects your equipment, tools, portable computer equipment, and other supplies from theft, loss, or damage while they are in transit to and from worksites.

These and other policies and policy endorsements can be customized to cover your unique risks, and together make up a large portion of a comprehensive patio construction company insurance program.

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Why Do You Need Workers’ Compensation Insurance?

You need workers’ compensation insurance to help employees who are injured on the job. Installing patios at businesses and homes can be dangerous for employees. They may be required to use dangerous tools and equipment while working in unsafe environments. Your employees may be exposed to falls, cuts, abrasions, back injuries, and other unsafe conditions.

Workers’ compensation insurance provides coverage for medical expenses and lost wages for injured workers. Business owners are required to carry workers’ compensation insurance to protect their employees. Specific coverage requirements vary by state.

Other Insurance Policies for Patio Construction Companies

An independent insurance agent can help you determine if you need the following additional policies or types of coverage.

  • Employee crime and dishonesty coverage: Protects your business from the costs of theft, dishonesty, and fraudulent acts committed by an individual employee or a group of employees. It provides coverage for forgery, alteration, theft, unauthorized electronic funds transfers, credit card fraud, computer fraud, money order fraud, and counterfeit fraud.
  • Employment practices liability insurance: This policy offers coverage for claims of employment-related discrimination by prospective, current, or former employees.

Your agent will help you determine which policies are best for your unique needs. 

Do You Need Contractors Bonds?

You may need to purchase one or several contractors bonds for your patio construction company, depending on the types of jobs that you take (e.g., residential or commercial). Contractors bonds are often essential for finding, securing, and performing work for many types of projects that you might work on. They may be required by a customer in order for your bid to be accepted, and they typically guarantee some aspect of the bidding process and the contract. This would typically come into play if you are working on a commercial or municipal project.

How Much Does Patio Construction Company Insurance Cost?

In general, insurance costs for patio construction companies will vary depending on the size of your business, the number of employees you have, the amount and value of your tools, equipment, and inventory, the location of your business, and a variety of other variables.

An independent insurance agent can guide you though your options so you get coverage that meets your needs and budget.

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Benefits of an Independent Agent

An independent insurance agent who has experience working with patio construction companies other similar businesses can help you decide the types and amounts of coverage that you need for your business. The choices you make will determine your cost of coverage.

Independent agents can work with numerous, reputable insurance companies who specialize in your type of business. Together you can review a variety of proposals and choose the best mix of coverage that meets your needs and budget.

What’s more, your agent will 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.

Find and Compare Quotes for Patio Construction Company Insurance

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.

Your agent will work with you free of charge to get quotes from multiple insurance companies so you can make the best choice.

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TrustedChoice.com Article | Reviewed by Paul Martin

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