Jobs in the masonry industry include masonry contracting using bricks, block or concrete; pointing, cleaning and caulking; stucco contracting; stone contracting; and working with other materials such as slate, marble and granite. As an independent contractor or a business owner in this field, it is important that you protect your business assets by investing in a comprehensive masonry insurance portfolio. Working with an independent insurance agent can ensure that you do not have any significant gaps in your coverage.
Liability insurance is required in some states before you can receive state licensure. Without it, you will not be able to work legally. Also, you can expect that anyone who hires you to do masonry contracting work will ask you to provide them with proof that you carry general liability insurance coverage.
Liability insurance can shield your masonry business from overwhelming financial losses in the event of a lawsuit by covering legal defense fees, court costs and financial damages. However, it is necessary that you have the right types of coverage. Your independent insurance agent will likely talk to you about the following:
- Commercial general liability insurance: This is a main component of your business insurance policy. It covers property damage and injuries you may cause to third-party interests while you are engaged in your masonry work. If you have been hired as a subcontractor, the contractor who hired you is likely to require that you name them as an additional insured on your policy for the duration of the job. Likewise, if you hire subcontractors, you will want to have them name you as an additional insured on their policies.
- Commercial auto liability insurance: As a masonry contractor, you likely have a company-owned vehicle or fleet of vehicles that you use for transporting tools and materials to and from the job sites. You are required by law to cover these vehicles with a commercial auto insurance policy. Because a large liability lawsuit stemming from an accident can significantly damage your business finances, you are advised to carry high amounts of liability insurance in your commercial auto policy.
- Employment practices liability coverage: This insurance can protect your masonry contracting firm from financial losses if your business is sued for engaging in an illegal practice such as discrimination, harassment or wrongful termination.
Masonry work has a high risk for job-related injuries. Masons can suffer musculoskeletal strain from heavy lifting; they can be injured in slip-and-fall accidents on the job site, sometimes from dangerous heights; they can suffer puncture wounds and cuts that require medical attention; or they can succumb to a host of other work-related hazards. This is why workers compensation insurance is so important. It protects your business from liability lawsuits by paying for necessary medical expenses and covering lost wages. In the case of fatal injuries, this insurance can also pay survivor benefits to the worker’s family.