Building Operations

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Building operations businesses may be exposed to a variety of unique job-related risks, including on-site accidents, and even, lawsuits. Being responsible for managing and maintaining high-value real estate properties and their contents, ensuring the safety of employees, and overseeing large construction projects are challenging tasks. Alongside the typical issues most small business owners face on a regular basis, your line of work may include additional industry-specific uncertainties, meaning you need protection designed for your business. Building operations insurance solutions from AmTrust Financial can help you keep your business covered in case misfortune comes your way threatens you financially.


Building Operation Business Insurance Coverage Options


Construction workers, contractors, and other building operators may not always be able to prevent an accident or mistake from occurring. Being prepared for on-the-job injuries, third-party liability claims, and other unforeseeable events is crucial to your business's continued success. Regardless of how many projects you oversee on a regular basis or how many employees or subcontractors you rely on, AmTrust’s insurance solutions can be customized to meet your needs. Building operations insurance coverage typically includes:

• Businessowners Policy (BOP)
• Workers' Compensation
• General Liability Insurance


Safeguarding Your Building Operations Employees with Workers' Compensation Insurance


On-the-job accidents, injuries, and illnesses are always a possibility, especially in your line of work. As a building operator, you may have regular full or part-time employees as well as work with subcontractors from time-to-time. An employee could fall off a roof and break a leg, or a subcontractor could suffer a major illness after handling hazardous material such as asbestos. The responsibility of paying for injured employees' medical expenses and hospital visits could fall on your shoulders.

Workers' compensation insurance can provide coverage for workplace injuries, and may even provide injured employees with partial wages while they're recovering. In addition to covering claim expenses, a workers’ comp policy could also help to protect your business from being sued for costs related to workplace accidents, illnesses, and injuries.

Most states require a business to carry workers' compensation insurance. Workers' comp may provide coverage for an injured employee's hospitalization, vocational retraining, rehabilitation, and partial lost wages. Depending on the situation and policy terms, if an employee draws benefits, he or she may be prohibited from suing your business for damages, and having a policy will help cover the costs of any claims made.

If an incident occurs, workers' comp coverage helps to protect your business and your employees by:

• Covering the costs of medical treatment, including x-rays, prescription drugs, hospital stays, and surgeries.
• Paying a portion of the employee's regular wages until he or she can return to work.
• Covering the employer's costs for a claim.


General Liability Insurance Coverage for Building Operations Businesses 


As careful as you may be, avoiding litigation may not always be an option. General liability insurance can help shield your business against many third-party claims. General liability insurance coverage often includes: • Damage caused to a customer's property by you or an employee. • Bodily injury caused to a customer by you or one of your employees at the customer’s residence or your place of business. • Advertising injury from accusations of negative advertising, copyright infringement, or slander.


Businessowners Policy for Building Operation Businesses


No matter how far your building operations may span, protecting the actual property you conduct business from is important. You most likely also have assets such as power tools, ladders, machinery, and very valuable equipment on your property. A businessowners policy (BOP) can help you cover the costs of repairs or replacements if your building or its contents become damaged or destroyed. Coverage often includes protection against theft and vandalism. Additionally, if you experience extensive property damage that causes you to have to put your business on hold temporarily, the policy may provide you with a loss of income benefits.

A BOP bundles different types of coverage to protect you from the following risks:

1. Your property and assets. With property insurance, the building you own along with other business assets, including furniture, displays, and equipment, can be protected against damage by fire, vandalism, theft and more.
2. Liability claims. This portion of a BOP can protect you against many third-party claims.
3. Loss of income due to a business interruption. If a situation such as fire causes you to have to shut down your building operations company for a period of time, a BOP could help you recoup some of the revenue you may lose because of the closure.


How Do I Get Building Operations Business Insurance?

Purchasing building operation insurance can give you peace of mind and confidence in knowing you're getting coverage against a variety of hazards and risks. AmTrust is here to help you discover tailored insurance solutions to keep your small business safeguarded whenever unfortunate situations arise. We work alongside you to find an insurance package suited to your business’s specific needs. To learn more about building operations workers' compensation packages and other top-rated insurance products that are available through AmTrust contact us today.
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