Job sites are predictably unpredictable. The more years you spend in the construction business, the more you understand how things can go wrong on a job, even on the best-planned projects. Your equipment can break down just when you need it most. Accidents can cause injuries and property damage. Theft and equipment breakdowns are always a concern. Plus, the risks can be even greater when you work on someone else's site.

These risks mean contractors need to protect themselves with small business insurance. You need to protect your business, from start to finish of every project, to keep your clients happy and protect your excellent reputation.

Here are six reasons why you need Construction and Trades Insurance like you get with BCAA Small Business Insurance.

Reason 1: It’s affordable peace of mind

Construction and Trades Insurance is an affordable way to protect your business and your clients. It costs just a few dollars a day to protect your business—and given the punishing costs of NOT being covered if something should happen, there’s really no comparison at all. A policy will cost you a lot less than if you have to pay for clean-up or demolition costs if your site gets damaged by a fire or storm, or if your equipment gets vandalized or stolen.

Reason 2: It covers you for things you can’t control

Smart contractors plan for the best and prepare for the unexpected. Your construction & trades insurance will cover you if you have to repair an unfinished building. It will also replace your building materials and equipment if they suffer loss or damage.

Let’s say your job site gets hit by severe weather/storms like wildfire, lightning, hail, or ice. BCAA Small Business Insurance would cover your business, equipment, or work vehicles so you can keep the lights on and your business running. Similarly, you can do your best to prevent theft or vandalism, but they can still happen at any time of year. If they do happen to you, you need a policy (like ours) that covers you for out-of-pocket vandalism & theft expenses.

Reason 3: Your clients may insist on it

Well before you start a job, your client may ask that you provide a certificate of insurance. For example, if you’re being hired to do renovations in a condo building, their strata will usually insist on seeing your certificate of insurance. They’ll need to see your level of liability insurance, what it covers, and who can benefit from it if something goes awry.

Your insurance will keep your clients (and their strata councils) happy and preserve your reputation—without killing your cash flow— if you need to make things right after a mistake, accident, or injury. Some things that can go wrong on jobs:

• Paint spills or over-spraying damages the property
• Nails or screws get drilled into hidden pipes and cause a slow leak
• Someone trips and falls on an extension cable and gets injured
• A welding torch in a tight area sets fire to the property

Reason 4: You pick your coverage limits

You know your business best. So, with our construction/trade’s insurance, you choose your coverage limits and deductibles. Will you be working on big projects with a lot of gear, equipment, and vehicles? Boost your coverage limit to match their replacement values. Meantime, you can lower the cost of your insurance premiums if you choose a higher deductible. If the year goes by without incident, this is an affordable way to protect your business.

Reason 5: It’s uniquely designed for your construction business

We cover your equipment and offer tool floater coverage, because the tools you bring or store at job sites are particularly vulnerable to theft. We cover your gear so you can replace or repair it wherever you leave it. Some contractors don’t have a shop and will get this coverage instead of property insurance to cover their gear.

Reason 6: We’re for BC and made in BC

Inspired by your business, we’re building something great here. BCAA provides insurance for BC small businesses, specializing in trades & construction businesses.

Our construction and trades insurance covers BC-based:

•   Flooring contractors
•   Renovation contractors
•   Commercial painters
•   Electricians
•   Landscapers
•   Window installers
•   Backhoe excavators
•   Cleaning services

Already have trades/construction insurance coverage? It’s a good time to review your current policy to ensure you have the right coverage in place. Our mission: provide you with the foundation of insurance protection so your business can continue to thrive and grow. Plus, business owners with a personal BCAA Membership can save up to 10%.

Visit bcaa.com/insurance/small-business/construction-and-trades to get your quote today.