Concrete contractors face risk on a daily basis. Operating construction equipment, dealing with hazardous materials and engaging in repetitive motion while on the job can all lead to potential injury or illness.
No matter how much safety training or personal safety equipment you provide to your employees, accidents will happen.
If one of your workers is injured while operating equipment that malfunctions or another becomes ill due to working with volatile epoxies, your company may be held responsible.
As a cement construction business, you can offset some risks that are impossible to avoid by buying workers compensation insurance.
Concrete Contractors and NY Workers Comp Insurance
NY workers compensation insurance covers the costs of medical treatment for worker injury or illness, and it also pays a percentage of lost wages while the employee is recovering.
Workers comp also covers your concrete company in another way as well. It protects your business assets from costly lawsuits brought against you by workers injured on the job. With the right policy coverage, necessary court expenses such as filing costs and settlements are available for your company when unexpected accident lawsuits happen.
Although laws vary by state, workers comp insurance is generally mandatory for any business with at least one employee. Exceptions do exist for corporate officers, companies without employees and larger corporations that choose to self-insure.
In New York, the coverage is mandatory and criminal penalties apply if you do not buy NY workers comp insurance for your workers and maintain consistent coverage.
Our workers compensation insurance experts here at Enforce Coverage Group can help you with commercial coverage for your concrete contracting business.