The excavation and land grading industry requires careful attention to detail, a strong commitment to worker safety, and proper training in the safe operation of heavy equipment. However, this work has risks, and accidents can happen at any time. For instance, a worker may sustain a temporary or permanent disability while operating heavy machinery, a skid steer might inadvertently damage a neighboring property, or a visitor could trip and fall over debris at a job site. To address these and other potential hazards, excavation and land grading contractors must obtain comprehensive commercial insurance coverage, including workers' compensation insurance, to protect their business and personal interests.
The Importance Of Commercial Insurance for Excavation & Land Grading
The use of a variety of heavy equipment and machinery, as well as working with unstable ground in the excavation and land grading business, exposes the company to numerous potential risks, including equipment damage, employee injuries, and negligence. A commercial insurance policy can protect your business from the significant costs associated with these risks. Furthermore, insurance coverage is often a requirement from clients and general contractors before you can even bid on a job.
What Insurance Do I Need for an Excavation Company in Florida?
Full coverage for an excavation and land grading company typically includes the following policies:
Commercial General Liability (CGL) Insurance
This is the most essential policy. It protects your business against claims of third-party bodily injury and property damage. This coverage is crucial for risks like accidentally damaging underground utilities while digging or a visitor who has an injury at your worksite.
Workers' Compensation
Florida law requires every construction-related business to have workers' compensation insurance. This policy ensures that an injured employee’s medical bills and a portion of lost wages will be covered.
Commercial Auto Insurance
Your personal auto policy will not provide adequate coverage for vehicles used for business purposes. A commercial auto policy is essential to protect your excavators, dozers, dump trucks, and other vehicles from accidents, theft, or damage while traveling on the roadways or fixed at a job site.
Inland Marine Insurance
This policy, often called an "equipment floater,” protects your investment in heavy equipment, tools, and machinery from theft, damage, or loss at a job site or when sitting in storage at a temporary location.
What’s Covered:
Insurance for an excavation and land grading contractor typically covers the following:
Third-Party Bodily Injury
Pays for medical costs and legal fees if a client, visitor, or bystander is injured on your property or at a job site.
Third-Party Property Damage
Covers the costs of repairing or replacing a client's property that is damaged by your business, such as accidentally cutting a utility line.
Legal Fees & Judgments
Pays for legal expenses, including attorney fees and court costs, in the event of a lawsuit, even if the claim is unfounded.
Theft & Vandalism
Inland marine insurance covers the theft or damage of your equipment and tools while they are temporarily away from your place of business, such as at a work site or in storage.
Worker Injuries
Workers' compensation covers medical bills, lost wages, and rehabilitation for employees injured in a work-related accident.
Company Vehicles
Commercial auto insurance pays for property damage and bodily harm caused by an accident involving a vehicle used for business purposes.
What’s Not Covered:
- Damage to your own business property.*
- Intentional destruction or harm.
- Non-work-related medical costs.*
- Poor workmanship.
- Professional negligence.*
*Add-on coverage for these and other risks may be available. Your policy may include additional limitations/exclusions.
Other Coverage Options for Excavation and Land Grading
Talk to your CIS agent about other insurance options that your firm may need, such as:
Commercial Property Insurance
This policy protects your building, office space, and tools and equipment stored at your business from risks like fire, theft, and vandalism.
Pollution Liability
If your work exposes your business to environmental dangers like contaminated soil or hazardous materials, this policy can cover the costs of cleanup and legal defense.
Commercial Umbrella Insurance
This policy provides an extra layer of liability protection that extends your existing policy's limits, such as General Liability and Commercial Auto, to provide coverage of large settlements, limiting your financial exposure.
Best Excavation & Land Grading Insurance Near Me
At Commercial Insurance Specialists, we pride ourselves on being an independent agency you can trust. Our mission is to deliver outstanding service with a diverse array of insurance solutions customized for the excavation industry in the West-Central Florida region. We search and compare policies from leading insurers to match the coverage that best meets your needs and budget.
We work with many professionals, including plumbers, landscapers, and excavation and land grading contractors, from Sarasota County to Polk County, including Land O Lakes, Brooksville, Clermont, and Largo. Just give us a call, and one of our licensed agents will be glad to find the best rates and coverage options for your business. Contact CIS today for a complimentary, no-obligation quote for excavation and land grading insurance.
