Excavation Insurance in Wisconsin
What does excavation insurance cover?
Excavation contractor insurance is general liability insurance. It is the primary or core insurance policy for your Wisconsin excavation company should buy. Independent excavation contractors face large liability risks each time earth is moved. Things like adequate soil compaction and proper levels for water runoff. Also, property damage claims can arise from your heavy equipment. There are several different limits of coverage, like $300,000/$600,000, $500,000/$1,000,000 and $1,000,000/$2,000,000, which is most common and recommended. There can also be a property damage deductible. This means you would pay the first say, $1,000, $2,500 or $5,000 if you were to be damaged something “other than” what you are were working on. This should be considered before purchasing your excavation liability insurance policy. General liability insurance covers your premises, products, operations and completed operation (once your work is done). Feel free to click here for a more detailed definition on general liability insurance:
How much does business insurance for an excavation contractor cost?
We are an independent insurance agency and believe shopping multiple Wisconsin insurance companies (for maximum savings) and working with an experienced contractor’s insurance agent is key to finding low cost rates for excavation insurance. Wisconsin excavation contractors, earth movers and land grading contractors might expect to pay $1,000 to $1,500 per year for a start up with one active owner. The general liability insurance is rated on payroll. A set rate is applied to each active owner and then employee payroll is factored in. So, if there are two active owners and they have two employees with $67,000 in payroll, commonly you will see $128,600 as the rating factor. $30,800 for each owner (a set rate), then the $67,000, totaling $128,600. Having a good claims history (loss runs), having years in the business and the size of your operations can have a positive or negative effect on your excavation contractor’s insurance premiums.
Some of the risk’s excavation contractors have are, property exposures, inland marine, premises liability exposures, automobile and workers compensation.
Let us compare your Wisconsin excavation contractor insurance and help you choose wisely.
Our goal is protecting your WI excavation contracting business, then we save you money. We do this by shopping multiple Wisconsin insurance companies to find you the very best protection and very affordable rates. By bring multiple options to the table, giving you a choice in plans. Helping you customize an excavation business insurance program that is not only cost effective, but right for your growing Wisconsin company.
Contact Us for a Quote
We are ready to discuss your excavation contractor business insurance and we will help. You know the WI excavation business and we know Wisconsin contractor’s insurance. If you are looking for excavator insurance, excavation insurance or land clearing insurance in Wisconsin, you came to the right place. We cover earth movers, excavators, excavation companies. Read our BIO, then simply pick up the phone or complete the short form to the right.