Workers Compensation Insurance does more than just cover you for medical and rehabilitation costs, it covers lost wages as well as damage or loss of property associate with construction site mishaps. A business owners’ policy (BOP) is designed to protect you against loss of income, while Liability Insurance covers damage on construction and restoration projects. Liability Insurance covers you for those incidents where you’re liable for damage or repair costs, but it also covers injuries or damage to personal property, as part of regular construction site and heavy machinery labor.
Your Workers’ Compensation Insurance is designed to protect your workers if and when they are injured on the job, with mounting medical or rehabilitation costs. It can also cover lost wages, as well as benefits are unforeseen and tragic incidents occur at a construction site. Of course, with such a range of heavy machinery (bulldozer, dump truck, loader, grader, forklift, paver, etc.), you must also include Commercial Vehicle Insurance to cover accidents, injuries or property loss related to construction mechanization. (This type of coverage can easily be overlooked.)