Although the construction sector (a pillar of the American economy) contributed 7% of the total U.S GDP in 2017, it will take time to return to the same levels of prosperity in our post-pandemic economy. Since the government took unprecedented measures to contain the virus and restricted construction work, many projects may experience delays, postponements and possibly cancellations.

Changing needs

Our nation’s needs have changed to large-scale entertainment projects (stadiums and auditoriums) could be ignored in favour of public-benefit projects (hospitals and schools). In 2018, home improvement spending increased by 5% – a trend which is expected to continue with so many of our citizens spending more time working remotely and distance-learning.

Can your small business adapt?

Small business owners in the excavation contractor sector must adapt to these new circumstances, seize the fresh opportunities that come with them and mitigate the possible attached risks, in order to survive and thrive.

To properly protect your business and employees in these unusual times, General Liability Insurance is an essential. Injury, accidents and other limited circumstances are covered by this versatile policy.

A General Liability Policy includes this coverage:

  • bodily harm to a third-party,
  • property damage to third-party property,
  • completed products claim,
  • injury at your office,
  • harm to reputation,
  • advertising mistakes,
  • damage to rented premises, and
  • immediate medical expenses claims

Excavator during earthmoving work at open-pit mining on blue sky background. Loader machine with bucket in sand quarry. Backhoe digging the ground for the foundation and for laying sewer pipes

8 Common Scenarios where you are protected

  1. In the event of an injury to a pedestrian on your building site (Bodily Harm to Third Party)
  2. Damage to an existing building while excavating on site (Property Damage to Third Party Property)
  3. Claims related to services you have completed or products you have produced (Completed Products Claim)
  4. Medical costs for a client injured at your office or another location where you are working (Injury at your Office)
  5. Protection for your business from claims of libel or slander (Harm to Reputation)
  6. Safeguard your business from allegations of copyright infringements when advertising goods, products or services in your advertising campaigns, social-media accounts or websites (Advertising Mistakes)
  7. Accidental damage to the rented premises from which you operate your business (Damage to Rented Premises)
  8. Injury to a client on your premises who requires immediate and urgent medical care (Immediate Medical Expenses Claim).

Further essentials

  • Workers Compensation Insurance (provides compensation for loss of wages or cost of medical care, due to a work-related injury)
  • Commercial Auto Insurance (coverage of any vehicle used to generate an income for your enterprise)
  • Inland Marine Insurance (Personal Property Coverage) (cover materials, products and equipment when transported and stored between the office and the building site and ensures replacement if lost, stolen or damaged)
  • Professional Liability Insurance (cover in the event of a client claiming for negligence)
  • Bonds (some governmental entities require a permit bond before allowing the contractor to apply for a construction project permit).

Peace of mind is priceless

Proper preparation can protect you from expensive litigation and stress whilst navigating your way through the remaining months of 2020. The peace of mind, which the correct insurance gives you, is truly priceless.


Image Source: (Licensed)


Sources: 2020. Ibisworld – Industry Market Research, Reports, And Statistics. [online] Available at: <> [Accessed 20 September 2020]. (Midyear 2020 Engineering and Construction Industry Outlook Report, author Michelle Meisels) (65 Must-Know Construction Statistics for 2020 blog post, 27 Jan 2020)

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