Business insurance, as they usually call insurance in Mexico, is an important factor for you to take into account if you have thought about open a construction business.
Well, it is a commercial activity with very different risks, because perhaps your business only has the necessary windows to promote the products that you place for sale.
But nevertheless when your clients visit the facilities of your business an accident can occur if the products fall.
And even if you also dedicate yourself to the installation of certain construction materials in the houses, your client will consider you responsible in the event that you cause any type of damage to their property.
General liability insurance for business insurance
For this reason as the owner of a construction business, you need general liability insurance, which will cover injuries that may be caused in the work environment, accidents and even illnesses.
What does general liability insurance cover: Therefore, by contracting this type of insurance you benefit because all the assets of your company will remain covered.
It also covers damages that may be caused to property including personal injury and damage.
Therefore, if you do not consider the need to contract this type of insurance and some type of damage occurs and merits a lawsuit by your client, all your assets of the construction business would be confiscated for the payment of the judgment.
Otherwise, when hiring the Business insurance You will have coverage and you will be able to carry out your work with the assurance that both you and the employees who work with you remain protected against any risk.
Well, your business will be protected against any claim that is presented, since you can receive a very expensive lawsuit and yet you will maintain peace of mind knowing that you can continue with your daily tasks, because you have important coverage such as general civil liability.
Well, you will forget about worrying about the costs of the fees of the witnesses and the lawyers and even the legal expenses.
In fact, with the high costs of facing a lawsuit, if you do not have insurance such as general civil liability, it may mean that you close the doors of your business forever or, on the contrary, if you hire it, you will always keep the doors open because you know you will have the necessary funds.
Even because of all the general liability insurance options, you can choose interruption coverage. That is to say that in this way all the income you lose will be covered because you must attend court to defend yourself when they present a claim.
Therefore when you decide on one insurance company To contract the general civil liability it is important that you inquire with the insurance agent, the coverage that best suits your type of business, that is, what is convenient for you to hire according to your construction business and what you consider is not necessary.
In fact, as a professional in the construction industry you know that you can handle yourself with great care, but nevertheless accidents can occur at any time when your clients enter your workplace, but since you have contracted this type of insurance you maintain the Peace of mind because your business is protected against these unforeseen events and even the demands that your clients may present.
If the accident occurred in your commercial construction premises, when contracting this insurance policy, all medical expenses that derive from the care of the injured person will be covered and in the worst case the court demands compensation if the injury caused is cause of death, for which it will also cover the funeral expenses.
Claim of finished work: The general civil liability insurance policy also protects your construction business against a claim that is related to the services you have provided and completed, for example, before the installation of a product in a client’s house than before the instability of that installation has caused an accident or injury.
Business insurance: workers compensation insurance
Workers’ compensation insurance: In addition to this, you need to take out workers compensation insurance so that all your employees can also be covered against any illness or injury at work.
When you find out about the insurance policy, include the coverage for theft of your construction business, as the policy must be personalized according to all the risks that your business may suffer, since risks due to injuries, accidents and financial are common and should be covered.
Construction insurance: The construction insurance you purchase may include commercial vehicle insurance, so that you obtain coverage on your truck, car, van, or other vehicle that you use for commercial purposes.
From this insurance you get coverage against a bodily injury that you cause to third parties.