Construction companies are always exposed to various risks that can lead to large financial losses or even accidental injuries. Although many people consider securing the assets of a company as an expense, in the face of a work related accident it is really an investment. Many business owners ask themselves why it is important to secure their company and if insurance is necessary. These questions are more common than they seem; there are some people who refuse to take out insurance and who, in general, trust their business will not experience an accident. It is important to know why you need insurance and what the benefits are.
We know how tedious it is to look for differing types of insurance through several companies. Even though receiving calls to promote insurance can be annoying, it is a product that can help you a lot in the face of unforeseen situations. Do not miss opportunities to help you improve and save money. If you’re still not sure why you need insurance, keep reading for the answers you need. Here we give you three reasons why Builder’s Risk Insurance is important to have for your company today.
1.- Protect Your Business And Your Tranquility
You and your employees are constantly exposed to potential dangers while working on a construction site. Builder’s Risk Insurance ensures that your employees are able to work with peace of mind that they will be taken care of in the event of an unexpected accident/interruption in their project. If you want to protect your company and the wellbeing of your clients, it is better to have insurance to protect against the risks of the construction industry. Our plan insures both you construction materials in addition to the labor required for your specific construction project, therefore protecting your business at every stage of the building process.
2.- Save Money With Builder’s Risk Insurance
Maybe it has not occurred to you that you would save your company money by buying insurance, but the truth is that insurance is an investment which can help you save a lot of money. Builder’s Risk Insurance is of the most affordable types of insurance, as it usually costs only 1- 5% of the total construction budget. In the event of damaged materials or property, having Risk Insurance will save you a lot of money while recovering from the loss. Builder’s Risk Insurance will help to prevent and compensate for all the risks that can lead to your company losing money, projects, and clients. Insuring your company is the best way to not lose money in the face of any type of disaster or incident.
3.- Grow your Company
What kind of business owner does not want their company to grow? The hard part is knowing how to do it, and the key to success is knowledge. It is your obligation to know what your company has to offer and make sure clients do not resort to the competition; winning the loyalty of your customers must be your priority. In a highly competitive market, the client will always seek the best service and it is very difficult to stand out if you do not have adequate insurance. The loyalty and trust of the client earns repeat business and potential referrals, however client loyalty cannot be achieved without sufficient insurance to protect them, and you, in case of an accident. Clients may even require proof of Builder’s Risk Insurance prior to hiring your services and may review its conditions before signing a contract. Builder’s Risk Insurance will not only give you and your employees the confidence to succeed, but it will also give your client confidence to recommend your company or request your services again.
Builder’s Risk Insurance not only protects your business and work from unintended damages, but also saves your company money by reducing the costs of recovering from potential accidents and material losses. Additionally, Builder’s Risk Insurance helps your business grow by increasing client’s trust in your company. Insurance is never a waste of money or an unnecessary expense as it helps companies succeed and rise before they fall. We are here to help your company grow. We offer a completely free quote so that you can compare our prices with other companies, and we are sure you will find that we have the best insurance plans at the most affordable price.
If you want to learn more about other types of insurance, we recommend you look at our blogs that will help you to have a unique perspective on insurance plans for your company; we want you and your company to grow and be informed to choose the insurance that covers your specific needs. We offer the best insurance policy because our top priority is our clients, just as your clients are your top priority for your company as well.
I hope this information has helped you with all your questions why Builder’s Risk insurance is essential for the success of your company, but if you still have questions regarding the types of insurance plans we offer please contact one of our agents and get a free quote, call 866-225-1950 or fill out the ‘quote form’ found on our homepage.