How Much Does Concrete Contractors Insurance Cost?

A concrete contractor’s insurance is central to keeping a concrete business protected and safe. We understand that these businesses work tirelessly to provide essential construction services and take on a huge responsibility to carry out those services. With almost 80,000 concrete contractors operating throughout the country, the market has also become very competitive. To compete in this economy and still prioritize safety and protection, it’s important to have a good insurance policy at an affordable price. Below, we review the typical cost of a concrete contractor’s insurance and the different factors that can change it. 

A standard concrete contractor insurance cost covers general liability of between $1M – $2M. Small concrete contractors generally pay about $75/month for this type of insurance. The standard insurance package normally covers general liability, workers compensation, and professional liability. The monthly cost for insurance is dependent on several factors, including location, size, sales, experience, and other policies. 

Although standard insurance policies usually have the same three typical coverages, additional coverages can be bought at a small increase in the monthly cost. For example, commercial auto insurance and property insurance can also be bought for a small premium. These policies extend the coverage of the standard policy by also insuring a company’s vehicles and property. This is especially useful for concrete contractors as it will allow them to ensure and protect their cement mixers, equipment, buildings, and more. 

As mentioned above, the monthly cost for insurance is dependent on several factors and can increase or decrease depending on them. For example, if your concrete contracting company is somewhat new and only has a few years of experience, your premium will likely be above average. Likewise, if your company has an extensive list of clients and lots of work throughout the year, you’ll also have to pay above average to cover all your work. 

Concrete contractors typically work with materials worth hundreds of thousands of dollars and in the event of an accident or claim, the standard $1M – $2M coverage may not be sufficient. This is especially true if professional fees are involved, as lawyer fees and trials can quickly double the amount of a claim. Umbrella insurance policies can extend the coverage provided by standard policies and for an extra monthly premium, cover any fees that go past the standard policy amount. 

It is possible to decrease your monthly cost of concrete contractor’s insurance by being proactive and taking on extra responsibility to reduce the chance of accidents. For example, many companies will discount the monthly payments if your company proves that it creates an on-site emergency plan, provides extra training for employees and other safety mechanisms. This is especially relevant to concrete workers due to the additional risk in their field and significant savings can be found by speaking to an insurance agent. 

Several different factors affect the cost of concrete contractor’s insurance. The average monthly cost is $75/month and is dependent on several different factors. It’s important to speak to an insurance broker to find the most accurate pricing. However, the monthly cost to insure your business is significantly less than the coverage you will receive, and the insurance policy is a great way to protect your business and your workers – which is therefore worth investing. Contact or for an exceptional brokerage service specializing in Construction Insurance.

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