Masonry Insurance

The cost of masonry contractor insurance depends on several factors that help insurers evaluate the level of risk associated with your business during underwriting, such as:

• Masonry services offered: Contractors who specialize in higher-risk projects, such as structural masonry, retaining walls, chimneys, or large commercial installations, may pay more for coverage than those handling smaller residential repairs or decorative stonework.
• Business property and equipment: The value of your tools, machinery, inventory, and other business property can affect your insurance premiums. Contractors who own expensive equipment, such as mortar mixers, scaffolding, forklifts, or skid steers, often pay more for property and equipment coverage because replacement costs are higher.
• Annual revenue: A masonry company that completes more projects and generates higher revenue typically faces more opportunities for accidents, property damage, or liability claims, which can result in higher premiums.
• Commercial vs. residential work: Commercial masonry projects often involve larger jobsites, higher contract values, stricter insurance requirements, and greater liability exposures than residential projects. As a result, contractors who primarily work on commercial properties may pay more for insurance coverage.
• Location: Where your business operates can impact insurance costs. Contractors working in areas with higher labor costs, increased litigation risks, severe weather exposure, or higher crime rates may face higher premiums than businesses located in lower-risk regions. State-specific insurance requirements can also influence costs.
• Number of employees: Businesses with more employees generally pay more for insurance, especially workers' compensation coverage. A larger workforce increases payroll and creates more opportunities for workplace injuries and liability claims.
• Safety and risk management: Masonry contractors that implement strong safety programs, provide employee training, maintain equipment, and follow job site safety procedures may be viewed as lower-risk by insurers. Effective risk management practices can help reduce the likelihood of claims and may lead to more favorable insurance rates.
• Policy limits and deductibles: Choosing higher coverage limits generally increases insurance costs because the insurer takes on more financial risk. Conversely, selecting a higher deductible can help lower your premium, though it means you'll pay more out of pocket if you file a claim.
• Claims history: Insurers review your previous insurance claims when calculating premiums. Masonry contractors with a history of frequent or costly claims are often considered higher risk and may pay more for coverage than businesses with a clean claims record.

In addition to general liability and workers' comp coverage, masonry contractors often need additional protection to address property exposures, project-specific risks, and contractual requirements. Depending on their operations, contractors may choose to also carry:

• Commercial property insurance: Covers owned buildings, offices, warehouses, and other business property from covered losses such as water damage, vandalism, and certain weather-related events. This coverage can help pay for repairs or replacement costs after a covered loss.
• Business personal property (BPP) insurance: Helps protect furniture, computers, supplies, and other business assets kept at your office or workshop. BPP coverage can be a good option for contractors who don't own or lease a dedicated office or warehouse and may be available as an endorsement to a general liability policy.
• Business interruption insurance: Also called business income insurance, this coverage can help replace lost income and pay ongoing expenses if a covered event temporarily shuts down your business.
• Builder's risk insurance: Protects structures, materials, and supplies during construction, renovation, or installation projects. Masonry contractors working on new construction or major renovation projects may need builder's risk coverage to protect against losses caused by events such as fire, theft, or vandalism while work is in progress.
• Employment practices liability insurance (EPLI): Covers legal expenses related to employee claims involving wrongful termination, discrimination, harassment, retaliation, or other workplace-related allegations. As a masonry business grows and hires additional employees, EPLI can help address employment-related risks not covered by general liability.
• Products-completed operations coverage: Protects your business if completed masonry work causes property damage or bodily injury after a project is finished. For example, this coverage may help if a retaining wall fails after installation and damages a customer's property.
• Hired and non-owned auto (HNOA) insurance: Provides liability protection when you or your employees use rented, leased, or personally-owned vehicles for business purposes
• Surety bonds: Bonds are commonly required by clients, licensing boards, municipalities, and project owners. It helps guarantee contractual obligations will be fulfilled and can improve a contractor's ability to qualify for larger projects.
• Excess liability insurance: Increases the coverage limits of a single underlying liability policy, such as general liability or professional liability. Masonry contractors working on larger commercial projects or jobs with significant contractual requirements may purchase excess liability coverage to gain additional financial protection against costly lawsuits and claims.

Masonry contractors, roofers, plumbers, and other businesses in the construction industry can save money on insurance by comparing quotes from different providers. With Insureon, you can get free quotes from top-rated insurance companies by filling out our easy online application.

Other ways to save money include:

• Bundling policies. Masons can often buy general liability coverage and commercial property insurance together in a BOP, which costs less than buying these policies separately.
• Customizing your coverage. Choose lower limits or higher deductibles to reduce your premium, but make sure your policy can still cover a potential claim.
• Avoiding accidents and claims. Bricklaying businesses can prevent employee injuries and customer accidents that lead to claims by implementing a strong risk management strategy that includes employee training and strict enforcement of safety protocols.

Our agents can help you find the right construction insurance solutions for your budget and business needs, whether you take on minor masonry tasks or large-scale commercial bids.