Over the past few years, several factors combined for a reduced number of projects in the construction industry. The impact of high unemployment rates and a volatile housing market resulted in decreased demand for new construction or home improvement projects. That said, a turnaround has begun and artisans are back to work in the commercial housing market as new construction picked up and there was a need for repairs as a result of weather-related damages. Construction projects naturally contain risks as the work is extremely physical and accidents do happen. Insurance agencies strive for and hope to achieve worker’s compensation loss control by creating and implementing programs that are cost-effective and meet business needs.
The field of construction includes a variety of tradesman such as carpenters, electricians, drywall installers, artisans, plumbers, and masons. All these jobs have unique risks and reasons to implement a solid workers’ compensation plan. These programs can be designed for single or two-person operations based on eligibility requirements. There are other options available to cover contractors in new ventures. Businesses will often desire reliable and affordable options that were created from significant experience and thorough knowledge of potential claims. Several states have achieved success with workers’ compensation insurance that allows agencies to adequately protect and serve their clients.