What Is Commercial Building Trades Insurance?

​For companies that specialize in commercial building constructions, this kind of insurance should save them a lot of time, effort, and unexpected expenses from the following:

1. Injury, illness, or death of employees or workers within the workplace and during work hours
2. Cases of theft of equipment, machinery, and other properties of the company
3. Whether the company inflicts upon an injury or property damage to a third-party person or property during its business operations
4. When there is a claim from the client that a negligent act or an error occurred to the works or projects done by the company that may also need reworking or revision

What May Be Covered From This Insurance?
Construction companies need to have a coping strategy since such problems can arise. These basic insurance coverages would accommodate your company regardless of your company size.

Your Employees
An employee or worker will be entitled to insurance if they suffer from an injury, illness, or even death within the workplace. The insurance for this is known as worker's compensation insurance coverage.

The working conditions for construction companies are harsh, especially the working conditions of a construction site, where workers have a high probability of falling, getting injuries, being tripped, or electrocuted. 

The compensation for paying for the medical bills, the lost income due to their absences for recovery, and a death incident should be enough to pay the dues for the damages caused to them.

Third-Party Damage or Injury
People and properties that are not part of the company that may be subjected to injury or damage within the company's premises may hold your company responsible for this kind of incident. 

Incidents like these should be covered under general liability coverage. This insurance should cover medical bills and legal expenses if the third-party person involved sues.

Protection Against Lawsuits
This insurance may cover legal defense fees from filed complaints, usually from negligent acts or errors the client claims about the project your company has done for them. This kind of situation may be covered under what is known as professional liability coverage.

Whether the allegations were true or not, it could cost your company a lot of expenses and time just by attending court hearings. 

Conclusion
The conditions that may affect your company's business operations running smoothly, especially in the industry, are mostly associated with dealing with these risks. You may infer to incident reports or to cases that usually arise for you to choose which type of insurance best suits your company.

At Desmond Insurance, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We will go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (859) 491-5100 or Click Here to request a free quote. Any coverage discussed is not guaranteed. Please contact us today to go over your policy to ensure your needs are met! We are here and happy to help.