There are factors that affect the cost of your insurance. For Excavation Insurance, costs vary depending on the business’s location, size, payroll, sales, and years of experience. The type of your business as well as the level of risks you have affect your general liability costs. Apparently, excavation businesses are at high risk of client injuries and property damages.
Businesses with high risk activities normally pay more for general liability coverage than those with low risk activities. In addition, if you need to hire subcontractors, you may want to ask them to mention you as additional insured in their policy. If you do so, your insurance company can consider them as insured subcontractors. This will cause your insurance premium to decrease.