Dredging Contractors Insurance

Modern liability insurance policies for contractors have become more intricate in recent years, and there are many reasons for this. To start, there are many different areas of contract work, such as dredging. Dredging can be performed all over the country-- anywhere there is water really-- and because of this there are many different local and federal restrictions surrounding this line of work in order to prevent pollution and damage to the area. But if pollution is inadvertently caused, dredging contractors need to be protected. If you work in dredging, here's what you need to know:

Legal Claims Are No Joke

The truth is that lawsuits against contractors in general have gone up dramatically over the past few decades, and the business of dredging is not at all excluded. In addition to lawsuits from locals who may have suffered as a result of pollution, dredging contractors may also find themselves facing hefty fines from government officials for legal violations. In some cases, pollution cases can lead to the end of a contracting business, especially if they are not properly protected with a good liability insurance policy that will help cover their legal costs. 

Taking the Next Step Toward Coverage

It is important realize that especially when it comes to any kind of contract labor work, liability insurance policies will vary greatly from business to business. Those who take on large-scale dredging projects and/or in more populated areas will naturally need higher coverage limits, for example. Now, a monoline policy (one that is backed up by additional credit wraps in case the issuer defaults at any time) is usually not necessary, but it may be a good option for some. When you're ready, it's time to consult with an experienced insurance agent about your policy options.