From laying a simple wall to creating an ornate exterior, masonry contractors have a range of projects that vary in complexity. Due to the nature of their work, mason contractors have to comply with certain insurance requirements and laws, and also need to protect their businesses from catastrophic loss.
Why Masonry Contractors Purchase Insurance
Each business has its own reasons for needing insurance, but we have seen a few common themes over decades of quoting and handling masonry contractor policies:
Client Insurance Requirements
One of the primary reasons masonry contractors purchase insurance is to comply with client requirements. Usually, these masonry contractors are working with general contractors or other companies. The clients want to make sure that they won't be financially responsible for any potential claims that could arise out of your work.
In some states, masons are required to have a license in order to perform any work. One of these license requirements might be to have a liability insurance policy, and provide proof of that policy to the construction licensing board.
When a business reaches a certain size or revenue level, the livelihoods of the owner and employees depends on the success of the business.
Business insurance transfers some of the risk of owning a construction business to an insurance company, in exchange for a monthly or annual premium amount. Having a comprehensive insurance program lowers the chances of a catastrophic accident forcing you to go out of business.
For a more comprehensive guide on what insurance contractors need, check out our article, "A Guide To Contractor Insurance."
What type of insurance do masons need?
There is no one-size-fits-all list of policies that a business needs. The right coverage depends on the type of work you are doing and the assets your business owns. That being said, there are four policies that most mason contractors will need at some point in their business’s lifecycle.
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General Liability Insurance (All Masons)
This is one of the only insurance policies that all contractors need, from the time they start their business to the day they retire. General liability insurance covers your business against incidents (or allegations of incidents) involving a situation where you caused someone else property damage or bodily injury.
For example, if you or an employee dropped a stone that chipped off part of the client's building, that would be considered property damage. A bodily injury claim could result from the same situation if that stone were to hit and injure someone (not an employee) in the area.
General liability insurance will cover the costs of building repairs or medical bills of the injured person.
Workers Compensation Insurance (If You Have Employees)
In most states, workers compensation coverage is required by law if you have employees. This coverage pays for medical bills and partial lost wages if you or any employee were to be injured while on the job.
Similarly, if you hire 1099 contractors or use subcontracted labor, having a workers compensation policy is a smart business practice. If there is an uncovered workers comp claim for a company that you hired, the claim can oftentimes fall on you because you hired the uninsured company. Having a workers compensation policy would take care of this problem for you.
For a more comprehensive guide on what insurance you need when hiring 1099 contractors or subcontractors, check out our article, "Do 1099 Employees Need Workers Compensation?"
Commercial Auto Insurance (If You Have Company-Owned Vehicles)
If your business owns a work vehicle, you will need a commercial auto insurance policy. This policy covers a wide range of scenarios, but it primarily protects against:
Liability arising out of accidents that you are found to have caused.
Physical damage to the car, regardless of fault.
Although this is similar to a personal auto policy, it is more tailored toward the risks that businesses face. It includes the ability to add your clients as additional insureds, add endorsements such as a waiver of subrogation, and even the ability to purchase high liability limits.
Contractor Tools & Equipment (If You Have Expensive Tools Or Equipment)
If you have expensive tools or equipment that you transport in your work vehicles or use on different job sites, you are at risk of those tools getting stolen or damaged in a car accident.
Contractor tools and equipment coverage is essentially property insurance that isn't tied to a location. This is important because contractors oftentimes go from job site to job site to do their work. If tools are stolen from any of the job sites or out of your van, this coverage would pay to replace them.
Get An Online Mason Insurance Quote
If you are looking for an insurance quote for any of the coverages in this article, you can get an instant online quote to check our prices. Additionally, if you have more complex insurance needs, you can always give us a call and speak to an expert immediately.