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Insurance and Risk Management

checkmark@2x     Insured for Snow?

Insurance costs have skyrocketed in the past decade, and nowhere has the hit been felt more than in the snow and ice removal industry. Not only are insurance rates at least 20% higher than in the past, many contractors have trouble even finding an insurance company that will cover them at all. These added costs and problems must be accounted for in the pricing of snow removal services. Insurance coverage is a must in this business, and companies that are adequately covered will cost more than those that aren't.

What kind of insurance should they have?

A common mistake is to assume that companies that are insured for services such as landscaping/paving etc. are also insured for snow removal. In truth, the majority of policies for such services do not generally cover snow and ice management. A strong, professional contractor will have specific insurance for their snow removal operations.

What are effective ways to manage risk for snow & ice?

Hiring a dependable contractor who has the needed insurance to cover losses, and can prove it, is the first step. Some other items  that separate professionals from fly-by-night operators include:

Recordkeeping: Successful and low-risk providers will keep meticulous records regarding their snow removal services, including work logs, pictures, and more.

Contracts: A good provider will always sign a contract that defines the desired level of service.

Coverage: Be a certificate holder on your contractors snow removal policy

What happens if I hire a contractor who is not insured?

In short, your level of risk is increased. If you hire a contractor and who is not insured, and someone makes a claim against you or that contractor, you may be held liable. Don't get caught being negligent by hiring an uninsured contractor and putting employees and/or others at risk.