How Much Does Business Insurance Cost for a Concrete Construction Business?
- Nate Jones, CPCU, ARM, CLCS, AU
- Jan 16
- 2 min read
Owning a concrete construction business comes with a range of risks—from on-site accidents to equipment damage and client property claims. Proper business insurance is critical to protect your company, employees, and financial stability. Understanding how much insurance costs helps business owners plan their budgets and choose the right coverage.
Factors That Affect Insurance Costs
Insurance premiums for concrete construction businesses vary based on several factors:
Business Size and Employees: Larger crews increase the risk of workplace injuries, affecting workers’ compensation premiums.
Revenue and Project Scope: Higher annual revenue or large-scale projects may require higher coverage limits, impacting overall costs.
Equipment and Vehicles: Concrete contractors rely on expensive tools, mixers, and trucks. The value and number of vehicles and equipment influence commercial property and auto insurance rates.
Type of Work: Specialty work like commercial or industrial concrete construction may have higher premiums due to increased risk.
Claims History: A business with prior claims may face higher premiums as insurers view it as higher risk.
Typical Costs by Coverage Type
While exact costs vary, here’s a general idea of what concrete construction business insurance may cost annually:
General Liability Insurance: $600–$1,500
Covers third-party injuries and property damage on job sites.
Workers’ Compensation Insurance: $2–$3 per $100 of payroll
Required in most states for businesses with employees. Covers medical expenses and lost wages.
Commercial Property and Tools Insurance: $500–$2,000
Protects equipment, tools, and office spaces from theft, fire, or accidental damage.
Commercial Auto Insurance: $1,200–$3,000 per vehicle
Covers trucks or vans used for transporting equipment, materials, and employees.
Business Owner’s Policy (BOP): $1,500–$3,500
Combines general liability and property coverage, often at a discounted rate for small-to-medium contractors.
💡 Tip: Premiums vary by state, coverage limits, number of employees, and the value of assets, so these are average ranges.
How to Reduce Insurance Costs
Concrete construction businesses can lower premiums without sacrificing coverage by:
Bundling policies into a Business Owner’s Policy (BOP)
Increasing deductibles for lower annual premiums
Maintaining a safe job site and investing in employee safety training
Regularly reviewing coverage to remove outdated vehicles or equipment
Getting a Quote
The best way to determine your exact costs is to request a tailored quote. Wexford Insurance specializes in concrete construction businesses, providing custom policies that match your coverage needs and budget: Get a Quote from Wexford Insurance.
