Anyone who works in the field of construction understands that it is an industry with a ton of risks. In fact, recent national statistics suggest that contractors in this type of work are far more likely to sustain a serious injury than any other type of job. As someone who owns a business that specializes in construction, you absolutely want to give yourself a chance to ensure you are keeping your business and your employees protected from the unknown with proper insurance. Forms like an S74 can be crucial for this goal.
GA Mavon reports that filling out the proper forms can make all the difference when it comes to protecting a business and its assets. A contractor’s equipment application, for example, is your opportunity to provide relevant information about equipment being used on a project for insurance purposes. While you probably have taken steps to ensure your own machinery in the event of an accident, contractor equipment does not always fall under a typical coverage umbrella. Additional fields to include on this form include:
- Information on previous insurance providers
- Details of each piece of equipment
- Underwriting data
Find the Right Fit
There are many reasons to go above and beyond when it comes to protecting your construction company. When you understand the steps involved in keeping your assets secure, it is a lot easier to follow the proper protocol and see the results you desire.