What Are Key Factors To Consider When Choosing Excavation Contractor Insurance In Ohio?
When choosing excavation contractor insurance in Ohio, several key factors should be considered to ensure comprehensive coverage and protection: 1. Business Size and Revenue Your operation's scale dictates your coverage needs. Small contractors: Basic general liability may suffice Large operations: Umbrella policies become necessary Revenue impacts premiums. Higher revenue = higher premiums. But it also means more to lose. Don't skimp. 2. Claims History Your past predicts your future in insurance. Clean record: Leverage for lower premiums Multiple claims: Expect higher rates, possible coverage restrictions Tip: Document safety procedures. Show insurers you're mitigating risks. 3. Coverage Types Ohio excavation contractors need: General Liability: Third-party injuries, property damage Workers' Compensation: Mandatory in Ohio for employees Commercial Auto: For work vehicles Inland Marine: Protects equipment in transit Professional Liability: For design-build projects As...