Insurance jargon: What do the terms really mean?
It’s important to be specific, especially when it comes to insurance issues. You need to know exactly what you’re covered for, when your coverage can
Concrete Manufacturers’ Insurance
Concrete manufacturers count on several processes and specialized equipment to get the job done. From batching and mixing equipment to conveyors and production machinery, your tools are at the heart of your business, but so is the quality and integrity of your concrete product. You may also rely on specialty vehicles to move that product to sites.
What kind of coverage do concrete manufacturers need?
We’ve compiled a policy to address the challenges, concerns, and demands of concrete manufacturers at each step of the way.
When can concrete manufacturers’ insurance come to your rescue?
Your business relies on your equipment, but you also need to make sure your concrete product is strong and resilient. Between producing the material, transporting it, and ensuring its lasting performance, there are plenty of places where problems could arise with your concrete or cement.
Basic coverages, like Commercial General Liability (CGL), Property, and Auto insurance are important, but concrete manufacturers may need more specialized coverage in certain circumstances.
Need more? No problem.
We have some automatic extensions too, like Product Recall Expense and Negative Publicity coverage to help keep your business running smoothly.
Rip and tear? We’ll help with the repair
Sometimes things get off to a great start, but problems can pop up after installation. A ready-mix concrete manufacturer who mixes a batch of cement, delivers it to a job site, and pours it into the forms – only to find that it doesn’t set properly – could face costly consequences if the concrete is deemed defective and must be removed, remade, and re-poured into new forms.
Although the cost of the defective concrete wouldn’t be covered, our Rip and Tear extension would reimburse the ready-mix manufacturer for the expenses involved with removing and replacing the defective concrete. This can mean the difference between keeping the project going and losing a client for good.
Protect against mayhem on the move
Many concrete manufacturers also transport their ready-mix concrete to the construction site, and as every driver knows, all sorts of trouble can arise when you’re traveling on busy roads. If your company-owned truck was involved in a rollover traffic accident, spilling its load of concrete in the process, you could be responsible for the clean-up and replacement costs.
Motor Truck Cargo coverage can come to the rescue when your business (literally) hits a roadblock. This extension is designed to protect against cargo exposures, covering loss or damage to goods and products that have been entrusted in your care, whether they’re in transit or being loaded and unloaded at a worksite.
Cyber risks are out there – defend against them
Concrete manufacturing businesses can be targets for hackers, and as technology increases, accidental data breaches are more common than you may think. If your computer system was attacked by malware that compromised the personal information of your company’s employees, would you know how to proceed?
Our Cyber Risk policy will help you here. It can provide coverage to notify employees about the exposure of their personal information and provide them with identity monitoring services, if required. Cyber Risk can also protect against losses resulting from network security breaches, privacy breaches, and internet media liability, plus policyholders have access to a consultation from a leading data risk management provider at no additional cost.
Managing Risk
We understand the importance of a smooth product shipment to project sites and the need to keep your vehicles on the road. That’s why we’ve developed programs, courses and services dedicated to fleet safety, including procedural guidelines, driver training, and vehicle and driver checklists. We can also help you manage risks on the production and installation sites.
Our value-added services focus on helping you identify and mitigate the risks your business faces each day. An assessment of your protection systems, hazardous materials, and best practice risk control measures can help uncover the inherent risks associated with the equipment and materials you use. In-person consultations carried out by experienced risk services professionals can leave you with the knowledge and confidence you need to protect every aspect of the business you’ve worked so hard to build.
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Liability Insurance
Business owners face unique risks that could land them in legal trouble. With our industry expertise and a substantial network of top brokers, we can help protect your company with the right liability insurance.