Pipelines are the key to serving a growing population, expanding urban areas, and a greater need for vital resources. Whether they’re made of steel or plastic, buried below ground or above ground, pipelines carry water, oil, sewage, and natural gas from one location to another. Pipeline construction companies are an important component to getting these pipes fitted and ready for transport, and they need proper construction liability insurance.
Across the country, water, sewer and pipeline construction companies perform countless tasks in their day-to-day operations, from fixing water mains in Idaho, to performing pipe inspections in Hawaii, to installing fiber optic cabling in Minnesota, and conducting cable and conduit repairs in New York. Whether attending to local businesses in their own city, working in their personal facilities, or completing a job out of state, it is important that companies protect their business property and procedures from harm with a dependable commercial insurance policy or policies.
There are many kinds of commercial insurance available. Water, sewer, and pipeline construction companies can purchase policies through small businesses or large, nationwide insurers, but by contacting an independent insurance agent in their region, these companies receive personalized assistance that they will not find elsewhere. An independent insurance agent will help them select a commercial insurance policy based on their specific business operations, the location of their premises, and other factors particular to their needs as a company.
As a pipeline construction company owner, you are exposed to a variety of risks that need to be covered in the event of a loss. This includes:
1. Contractors Pollution Liability Insurance: This type of coverage, known as CPL, will help to cover the medical bills, costs to repair property damage, legal defense, and cleanup when a pollution event occurs. It will cover the period during which your company is working on constructing and laying the pipeline. You can also extend the policy with “tail” coverage. This will help to protect your company in case a pollution event happens after the construction period is over. You can purchase up to 10 years of “tail” coverage.
2. Completed Operations Liability Insurance: Similar to “tail” coverage, completed operations liability insurance is designed to protect your pipeline construction company after the job has finished. This will help to pay against medical or property damage claims. Even if the construction has been completed, a third party can sue to pay for damages if the incident was deemed to be related to the construction operations.
3. General Liability Insurance: It is highly recommended that every business owner, whether its in pipeline construction or any other business, should at least have general liability insurance. It can be relatively inexpensive for small business owners and protects everything from the work space that you rent or own, your employees, and your assets. This type of insurance protects your business against employees who have an accident on site or damages to your property.
4. Contractor’s Insurance: Depending upon the needs of your pipeline construction business, contractor’s insurance can cover a variety of losses. You can get a rider for your heavy machinery, workers’ compensation in the event of an employee injury, and commercial vehicle coverage.
By reaching out to a local independent commercial insurance agent, water, sewer, and pipeline construction companies can gain an understanding of the options for coverage, and sort through the kinds of commercial insurance policies they can choose to purchase. They can get answers to their questions about commercial insurance and determine which coverage is right for them. With the assistance of an experienced independent insurance agent, water, sewer, and pipeline construction companies can rest assured that in case of damage, theft, or an accident, their business is protected through commercial insurance.
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