As most contractors, my guess is you too are tired of paying sick money for insurance. With that in mind, here are a few tips to help you lower your insurance price tag.
Did you know you can lower your premium by implementing loss control measures such as;
1. Safety training
All workers must have proper safety training courses before they start working on-site. Site-specific training should be completed by every worker to point out any high-risk areas and provide instructions for emergency management.
2. Risk management
Conducting regular safety audits and having procedures in place to report, assess, and address potential risks.
3. Site security
Restricted site access. Security in and outside of work hours and supervision of authorized site visitors. Strict security and safety protocols will also protect contractors from liability and negligence in the case of a safety incident or security breach.
4. Occupational Safety and Health Administration safety program
The OSHA safety program should outline the scope of work involved, any potential safety issues, and how risks will be prevented and managed.
5. Use clear signage throughout the site
Visible signage should also indicate site amenities (such as toilets), entry and exit points, and first aid or emergency fire equipment.
6. Entry and exit points
Separate entry and exit points.
7. Compliant chemical storage
Chemicals need to be stored very carefully to minimize fires, explosions, asphyxiation, chemical injury, and pollution on worksites.
8. First aid
For the construction industry, it's best practice to provide one first aid officer per 25 workers. First aid kits and equipment must be placed in an easily accessible area on site.
9. Provide personal protective (PPS) equipment
Such as high visibility vests, safety goggles, and safety harnesses.
Implementing loss control measures is NOT the only way to reduce your insurance premium. If you would like to learn more you can do so by clicking HERE.