The Ins and Outs of Builders Liability Insurance

Builders Liability Insurance

There are plenty of risks associated with the construction industry. Whether you’ve been working in this field for many long years or you’re still a novice, it is important to make sure you have insurance in place that covers all fronts. To achieve this, it can be a good idea to take a look at the different policy options available to you.

What To Expect

First, you may want to take a deeper look at what is builders liability insurance. Essentially, this is a policy option that helps to cover a few areas you may have not considered with a general policy for liability. With this coverage, you will be protected in the event that something causes damage that impacts the perceived value of the property. If an earthquake occurs, for example, having this policy in place can be a huge help when it comes to recouping your losses. Additional points to consider with this policy include:

  • Fees associated with local fire officials
  • Losses due to extreme weather
  • Protection against government action

Find the Right Fit

In order to keep your assets and your employees safe, you need comprehensive insurance. There are many risks associated with the construction industry and you need to stay mindful of these areas at all times. Review the various policies available to you and find the most sensible fit.

Why Pre Trip Inspections Are an Important Safety Tool

Safety Tool

There are plenty of things that can go wrong when you spend long hours on the road. Truck drivers know this, and take the necessary precautions to minimize risks. One of those precautions is performing a thorough inspection of their vehicle before heading out. When you consider what a pre trip inspection can reveal, it is easy to see why they are such an important aspect of maintaining a safe working environment.

Inspections Are Required

Performing a pre-trip inspection is a requirement for commercial truck drivers. In the event of an accident, the inspection log is one of the first places investigators will look. Rules do vary among companies and between states, so be sure to know what you need to check before getting started.

They Help You Find Potential Safety Issues

Inspections can turn up a host of safety problems. In addition to problems with brakes or the steering mechanism, you may notice worn wipers that can limit visibility, broken indicator lights or damaged tires during your check. It is also a good opportunity to identify any missing tarps or tie-down components before you need them.

Take Steps To Keep Yourself and Others Safe

Performing a pre-trip inspection gives you a chance to examine the major components of your vehicle. It is an excellent way to identify potential problems and keep up with necessary maintenance tasks. Combined with an appropriate insurance policy, it can help you minimize risks and liability while performing your job.

Risk Assessment in Cannabis-Related Industries

Cannabis

Since the passing of regulation across the nation that allows for both medical and recreational use of marijuana, there has been an increase in the number of marijuana-based businesses operating across the country to meet the demand. There are numerous steps in the process to get to the final product, and hemp harvesters are often most important in the initial growth and reaping stages.  Despite being a third-party participant in the industry, these workers and operations have just as much liability as those who dispense hemp products.

Various Liability Concerns

Within the harvesting process, there are concerns over crop loss, equipment failure, and product spoilage. For large operations, the standard commercial concerns of general liability, workers’ compensation, and automotive liability are also present. Comprehensive insurance services that are uniquely written for the cannabis and industry-related businesses are a way to protect from the financial and legal fallout of a claim.

Risk Management Options

Hemp opens new doors for the farming industry, and given the new economic opportunities, the U.S. Department of Agriculture has announced two programs that will help protect the crops of hemp producers in the event of natural disasters. Risk management strategies, in addition to insurance, include knowing the compliance regulations for growing a product, conducting risk assessment audits over operations, and keeping employees well-trained and aware of risk concerns.

New regulations will continue to affect the hemp and cannabis production industry. Make sure your company has the right protections in place.

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