According to First Research, the United States (U.S.) construction industry includes more than 650,000 contractors with combined annual revenue of about $1.4T. Demand for this industry is driven by demographics and the health of the economy. The profitability of individual companies depends on their ability to bid accurately, secure contracts and control costs.
The Commercial Line
With spring in full bloom, the sounds of the season can be heard with regular frequency; lawn mowers, lawn equipment and a gentleman with a Scottish brogue saying “Feed your lawn, feed it.” Many of us maintain our own lawns or hire a landscaper or lawn service to handle the weekly tasks. But, have you ever considered becoming a small business owner and forming your own lawn service?
The appropriate usage of Builders’ Risk and Installation Floater coverages can sometimes be difficult to determine. As a general overview, Builders’ Risk coverage is intended to cover either a single building or structure, or multiple buildings or structures, during construction, rehabilitation, or repair. Installation Floater coverage is suitable for most contractors engaged in low-to-moderate hazard installation activities, such as plumbing, electrical, heating, cooling and air conditioning, cabinetry, and alarm installations on new or existing buildings.
Learn more about Westfield’s propriety line of commercial solutions for construction, distribution, hospitality, health & human services, real estate and more.
While on vacation, my husband and I woke to the sound of the phone ringing. Our employees called to inform us that our tool trailer and tools had been stolen. We normally do not leave them at the job site, but wanted our employees to be able to work while we were gone.