It takes a real pro to know all the ins and outs — and the bricks and mortars — of the masonry industry. And protecting that business also takes a special kind of pro. Enter the independent insurance agent.
An independent insurance agent can help you find the right masonry dealer coverage for your business and tailor it entirely to your needs. Whether you’re delivering materials, offering installation, or simply selling concrete, brick, or other masonry products, with an independent insurance agent in your corner, you'll know that your business and livelihood are protected. But first, here's a bit more background on the insurance needs of your industry.
What Risks Does a Masonry Dealer Face?
While selling masonry materials isn’t nearly as risky as installing it, if your business offers delivery, installation, or even assistance in loading masonry materials into a customer's car, you face a variety of potential risks.
- An employee is injured while operating machinery such as a forklift or loading into pickup trucks
- A customer Is injured attempting to move materials themselves within property lines
- Materials are damaged or lost while driving products from one place to another
- A client is dissatisfied with the finished product
- If you offer installation, you run the risk of damage to the building/property where you’re installing the materials
What Kind of Insurance Does a Masonry Dealer Need?
Insurance is all about covering the risks of your business. A masonry dealer needs to have coverage for everything from the building where you house your materials to the products inside, and coverage for any additional services like delivery or installation. But no two operations are the same, and what one dealer needs, another may not. That's why working with an independent insurance agent is such a good idea, to help you get the exact coverage you need for your situation — no more and no less.
So let's get into the coverages that may or may not apply to your masonry dealer operation.
What Does Masonry Dealer Insurance Cover?
From property to liability, a masonry dealer needs a number of different types of coverages to protect themselves and their operation, which can include any of the following:
- Commercial Property insurance: This provides coverage for any loss or damage to your physical assets like equipment, computer systems, inventory, office space, and other assets that might be damaged by a natural disaster or unforeseen event, like a fire. If you store your materials outside, coverage is limited, so be sure to use proper protection like tarps and roofed structures.
- Building Insurance: This provides coverage for the actual building that you’re selling materials out of. Building insurance helps pay for any damage that ensued from extreme weather or a natural disaster.
- Business interruption coverage: This provides reimbursement for any lost income as a result of temporary closure in order to make repairs. Usually this is from events like fire or storms.
- Equipment breakdown coverage: This provides reimbursement should equipment like forklifts need repair.
- Inland marine insurance: If your business moves product from one place to another, inland marine insurance will protect your tools and equipment while en route.
- Premises liability insurance: This provides coverage if a customer is injured on the premises of your property. This can be a slip and fall in the store or injury trying to load brick or concrete into a vehicle.
- Product liability insurance: This provides coverage should a third party get injured by one of your products. For a masonry dealer, this could come in handy if customers are responsible for moving materials themselves from inside the store to their vehicles.
- Auto liability insurance: This provides coverage if you provide delivery services or have company vehicles for any reason.
- Cyber liability insurance: This covers any financial loss from fraudulent activity, website hacking, or theft of your customers' personal information such as credit cards.
- Completed Operations Insurance: If your company offers installation of masonry then this insurance can protect you should a client be unhappy with the finished product.
- Umbrella insurance: Because insurance companies impose caps on the amount of liability insurance they are willing to provide, umbrella insurance may be necessary if you feel that you need extra liability coverage in order to adequately protect your store. Umbrella insurance takes over where your other liability coverage leaves off.
- Flood insurance: Flood damage is not covered as part of most commercial insurance policies. If your business is at risk of flooding, you may want to consider purchasing flood insurance.
- Workers’ compensation insurance: Workers’ compensation is required in every state except Texas. This insurance provides coverage for medical bills associated with employee injuries sustained on the job. It also protects you from liability lawsuits.
- Crime insurance: If you keep your materials outside and they’re more easily exposed to crime, then this insurance could help protect your materials from theft.
- Professional insurance: If your store offers professional design services, you run the risk of a lawsuit if the design is faulty. In this case, you may need professional liability insurance to get the coverage you need.
How to Find the Best Insurance for Your Masonry Dealer
Insurance policies can be complex, and searching through options can be confusing, time-consuming, and frustrating. An independent insurance agent's role is to simplify the process.
When it comes time to purchase insurance, they’ll break down all the jargon and explain the nitty-gritty so you understand exactly what you're getting.
And should you need to file a claim, you’re not alone. Your agent will be right there to help guide you through every last step and get your life back to where it all was. How great is that?
Benefits of an Independent Insurance Agent
Independent insurance agents have access to multiple insurance companies, ultimately finding you the best coverage, accessibility, and competitive pricing while working for you. Find an independent insurance agent in your community here.