Many contractors view insurance as a hefty expense that’s filed away and forgotten until the broker arrives a year later to renew the process. Sure, there is a collective sigh of relief that coverage exists when a claim occurs. But, business owners often think, “I’ve hardly had any claims in all my years in business. Why don’t I just invest the money in something that offers a little payback?”
In reality, contractors don’t necessarily want to see “payback” in the way of claims coverage. Other alternatives, including partnering with insurers, can help companies avoid costly and time-consuming mishaps. Proactive loss control and claims management services actually can help businesses become more profitable.