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What is Paving Contractor Insurance?

While paving asphalt surfaces can serve as a profitable line of work, it’s one that comes with certain inherent risks. Businesses must protect themselves from property risks, liability lawsuits and other potential perils. Paving contractor insurance policies help Massachusetts businesses that operate in this space protect themselves from many of the risks that they’re exposed to.

Paving contractor insurance is a specialized form of commercial insurance that’s designed to meet the unique needs of paving contractors. In order to provide protection against multiple risks, these policies usually come with several coverages in them and are underwritten as package policies.

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What Businesses in Massachusetts Need Paving Insurance?

Most Massachusetts businesses that provide paving services should consider protecting themselves with a paving insurance policy. A few specific businesses that may want this type of insurance include:

  • Residential driveway pavers and sealers
  • Commercial parking lot pavers and sealer
  • Road paving contractors

To not carry insurance can leave these businesses unnecessarily and dangerously exposed to potential risks, and paving insurance is often the most suitable form of insurance for these businesses.

Paving Contractor Insurance Massachusetts

What Coverages Does Paving Insurance Provide?

Depending on the terms and conditions of a paving insurance policy, there are several common coverages that a particular policy may provide:

  • General Liability Coverage, which may cover general accidents resulting in injuries or property damage to third parties
  • Products and Completed Operations Coverage, which may cover injuries or property damage caused after a paving project is finished
  • Commercial Auto Coverage, which may cover trucks and other vehicles used by a paving contractor 
  • Contractor’s Tools and Equipment Insurance, which may cover both large equipment and small tools against theft and damage

Some policies might offer additional coverage options that can be useful in certain situations. An insurance agent who specializes in this type of insurance can help paving contractors determine exactly what coverages they should look for in a policy.

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Do Paving Contractor Policies Provide Workers Compensation?

The vast majority of paving contractors in Massachusetts need to procure workers compensation because they have employees. Whether this coverage is included in a paving contractor policy varies from policy to policy, but it’s also readily available through stand-alone policies. In either case, an agent who’s familiar with paving contractor policies can usually also assist with workers compensation.

How Much Do Paving Contractors Policies Cost?

Premiums for paving contractors policies vary a lot, because they’re based on many different factors. A few of the items that insurance companies frequently consider when setting rates for these policies include:

  • Where a paving contractor’s facilities are located
  • What type of equipment a paving contractor uses
  • What type of work a paving contractor does
  • What coverages and limits are chosen for a policy
  • How many claims a paving contractor has recently filed

For an accurate idea of how much a policy will cost, paving contractors should speak with an independent insurance agent. Whereas many captive agents are supposed to highlight a single insurance company’s policies, independent agents have freedom to show clients insurance policies from multiple companies. This makes it easy to compare what different companies would charge for a given set of coverages.

Paving Contractor Insurance Massachusetts

How Can Paving Contractors Get Paving Contractor Insurance?

For help finding paving contractor insurance in Massachusetts, contact the independent insurance agents at Paul T. Murphy Insurance. Our agents have assisted many businesses in the state, and we’re ready to help yours too. With our agent’s expertise, you can be confident that your paving contractor business is well-protected by the policy that you choose.

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