For contractors and small construction companies, the importance of having the right amount of the right types of business insurance can’t be overstated. For many small businesses that don’t have adequate coverage, the cost of one liability lawsuit can be more than the company can bear. Sadly, it’s not unheard of for contractors and construction companies to go out of business as the result of being sued.
All of that said, you don’t want to pay more for your insurance than you have to. Fortunately, there are ways to lower your insurance costs while maintaining proper coverage. Investing a little time and effort in the actions below may help your company save a significant amount of money.