Insurance is as much a necessity before starting any construction site as having the proper heavy equipment needed to dig the dirt.
Insurance is part of running a successful company at Ace Construction Texas. We want to provide all necessary protections for our equipment, property, clients, and our valuable employees. Supporting all these essential elements of our business is part of building, maintaining, and expanding a business in an industry that is filled with risk every day.
Our industry has a history of unforeseen incidents that require insurance to protect against the negative effects associated with injuries, damage to property, or disagreements between parties involved in a project. In all instances, insurance is the business protection that helps anyone affected.
Insurance Buffers Against Accidents
A top priority of Ace Construction Texas is safety on every job site. Safety helps prevent incidents and remove the need for insurance claims. From simple protective gear like a hardhat to proper operating procedures for heavy equipment, a defined safety program is the best defense against unforeseen problems. We want to prevent:
- injury claims that affect our employees and incur unwanted costs
- damage claims against customer property
- product claims for any products installed
Insurance provides an equitable solution when any of these or other accidents or incidents take place.
Job Sites Require Insurance
Ace Construction Texas works to meet all requirements of job sites requiring insurance. This is a necessary tool to cooperate with job site owners, other contractors, and applicable local laws.
Common types of insurance likely required on a job site are property, liability, and workers compensation. These offer protection for any claims against the business and also provide solutions for anyone affected by an incident. Insurance essentially manages risk, and in the construction industry there is risk every day.
Businesses work to make a profit. Profit is affected by any unnecessary cost. Even if a construction business – for whatever odd reason – doesn’t have insurance and there are not incidents the business can still lose money. Profit margins are tight in today’s competitive world, so any penalty from a project owner for not having necessary insurance can quickly cut into profits. Having required insurance is an effective plan to manage costs and ensure a profitable business.
Insurance Complements Construction Work
From the time a construction firm bids on a job to ultimately completing the construction work, it’s important to have insurance throughout the process. The construction industry can produce challenging and complex work requirements, and everyone involved deserves the peace of mind that insurance offers. Construction firms never want to use insurance, but if this necessary piece of the work puzzle keeps businesses running then the construction industry can continue as one of the leading job providers in the workforce.
Insurance can act as an ongoing reminder that everyone on a job site needs to work efficiently and safely. The goal is complete all work on time and within budget while limiting risk. This helps maintain an environment of safety that can avoid exercising insurance options.