Business Insurance For Contractors Can Provide a Solution
Denver Contractors and developers have a lot to worry about including cost overruns, subcontractor issues, state and local regulations and much more. Denver Construction sites are frequently vandalized by the theft of machinery, equipment, tools and materials. If you have the right kind of business insurance, then you may be covered for such losses. Because job sites vary, each type of site will require different protective measures and programs.
DCInsurers Mountain Brokers can provide the right kind of construction insurance to meet your needs.
Construction Site Theft Prevention
The following are a series of loss prevention recommendations designed to minimize or reduce the theft of property from the construction job site.
- Encourage all employees to be security conscious when on the worksite.
- Complete background checks of all employees.
- The control of keys is essential on a site. Keys should be issued to as few people as possible. Managers should keep a log of who has keys.
- Keep all equipment locked. Storage sheds or fenced areas should be provided on the job site for the secure storage of tools and equipment.
- Lock all vehicles at night.
- Place a fence around the construction site.
- Construction equipment should be engraved or marked in at least two obvious and one hidden location.
- Stamp ID numbers conspicuously on all large equipment and keep records of the ID numbers.
- Lighting can be an effective deterrent to theft and vandalism on the site. It is particularly effective in deterring the casual or impulsive offender.
- Make sure all incidents of theft or vandalism are reported promptly by workers and reported to police.
Jobsite theft continues to be a major challenge for all contractors, with industry experts estimating annual losses at roughly $1 to $2 billion in the construction sector alone. Having the right kind of insurance is a good way to protect your business. Call our office today.
It may not make sense for every owner or officer to consider this; it should be reviewed and considered periodically. Call our office today. Let one of our construction insurance specialist’s help you determine if this is an effective risk transfer tool.
DCInsurers Mountain Brokers is the Denver insurance agency you can trust, so contact us today so we can show you how we’ve become Denver Colorado’s premier insurance agency.