King Insurance Group Construction Insurance
One of the biggest risk and insurance issues for contractors is the loss of equipment at construction sites. Even when construction sites are secure, there seems to always be a way for thieves to get in and create a loss. In a recent case, the thief actual took an entire 1300 pound metal gate. Contractors are in a very competitive business and every saved dollar can be important to the bottom line. When it comes to running your business, you are the expert. But when it comes to protecting it, leave that to us.
Some losses may be covered under the commercial insurance policy, but there could be high deductibles. Some contractors self-insure the risk. Job sites do vary but we can provide a list of suggested theft reduction tips that will have a positive impact on your bottom line.
Here are a few tips on how to reduce theft:
- Have a sign in for all vehicles.
- Hook generators to cranes and store 25 feet above ground.
- Complete background checks on all employees.
- The control of keys is essential on a site.
- Keep all equipment locked.
- Mark all equipment.
- Encourage employees not to keep personal equipment on site.
- Post sings that video cameras are located on site.
- Post “keep out/no trespassing” signs.
- Lock all vehicles at night.
- Place a fence around the construction site.
- Stamp ID numbers conspicuously on all large equipment and keep records of the ID numbers.
- Complete background checks on all employees
- Require all subcontractors to have commercial insurance, workers’ compensation and employee dishonesty insurance.