Obtaining Insurance for a start up Scaffold & Access company? Below is a guide on how to secure the best price & coverage(s) for your team.
First things first, congratulations on starting your new Scaffold & Access company! We’ve seen many start-up companies grow into profitable businesses across the country in our niche. We understand the many challenges that go into a startup company.
As you start to navigate the waters of filing with the state, obtaining a tax ID #, speaking with your accountant, etc. you’ll soon find yourself thinking “oh no, where do I start looking to obtain insurance for my company?”. Many business owners first start with the representative who controls their personal insurance or Google a local agent. Due to the nature of our industry, we stress that you look for an insurance advisor who understands the complexity of the Scaffold & Access niche. Vet a few of the agents / agencies & see whom you could see yourself working with throughout the annual term. (You & your team will be speaking with your insurance agency more than you’d like to think LOL. Reviewing contracts, sub-agreements, building risk management items, claims calls, audits, new hires etc.)
Why do we need insurance? We obtain insurance so that if an accident or claim occurs, we are able to pay for the damages. That being said, if your team has to explain to your agent or claims representative the difference between Suspended Scaffold vs. System Scaffold, you’re already playing catch up.
When approaching the insurance marketplace, it is best to have a thorough explanation of your new venture & how we phrase it is “telling a story”. There are only a handful of insurance companies who insure Scaffolding & Access contractors, so we stress putting our best foot forward.
Here’s how we do it:
Narrative: through your own words, we show why your company is going to be a successful business.
Business Plan: this’ll show you’ve done your homework on where your business fits in your geographical area. What makes you stand out?
Resume(s): shows the underwriters that your team has experience & an expertise in erection & dismantle.
Rental Contract: one of the most important items in your daily operations is how your contracts are written. We supply your team with contracts that meet industry standards.
Safety & compliance: An “a la carte” risk management team. Find an agency that will help you & your employees become a safer workforce through training & protocols.
Proud members of the Scaffold & Access Industry Association. For more information on the SAIA check out their website here: www.saiaonline.org.
Conor T. Kerins, CRIS
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