3 Ways Skip Bin Hire Influences a Construction Project's Insurance Cover

Did you know that rental skip bins can influence a construction project's insurance policy? When considering buying an insurance policy for a construction project, most contractors do not think much about a skip bin's role. However, the fact that employees have designated containers to dispose of construction waste affects different aspects of an insurance policy. This post provides more information in this regard.

Reduce Insurance Cost -- An insurance policy, such as workers compensation, is ideal for construction contractors because it covers injuries from accidents on a project site. However, the amount you pay for premiums depends on how employees are exposed to risks on a construction site. For instance, a construction site lacking enough skip bins leads to poor management of construction waste. Such sites are characterised by waste lying unattended and on the ground, posing a serious threat to workers. Due to increased exposure to construction site safety hazards, you pay higher premiums. However, if you hire enough skip bins, you do not have to deal with dangerous waste lying around. Thus, by reducing dangerous debris on a project site, rental skip bins reduce monthly insurance premiums.

Reduces Insurance Claims -- The chances of an accident occurring increase whenever you step into a construction site. That is why project managers insist that anyone within the borders of a construction site must have the right safety gear, such as helmets and goggles. However, the lack of enough skip bins negates the protection that construction site safety gear offers. In the end, you might end up paying a lot in terms of claims lodged by injured workers. This can be attributed to the fact that poorly managed construction waste exposes many employees to injuries, translating to excess claims. Rental skip bins help keep injury claims at a minimum because few employees get injured when there isn't garbage lying around.

Eases Insurance Policy Negotiations -- Business practices and operations change, and construction companies are no different. Therefore, it is advisable to review your insurance policy annually, especially for construction projects that are likely to last several years. For instance, the scale and scope of most major construction projects expand with time. This means that you might need fewer skip bins during the preliminary stages of a project. As a project progresses and waste increases, you will need to hire more waste containers. Additional skip bins allow workers to efficiently handle the increased waste at different stages of a project. Thus, you can use the opportunity to renegotiate your insurance policy based on the recently enhanced safety measures. On the other hand, you do not have the leverage to negotiate your insurance policy if you maintain the number of skip bins despite increased waste generation.

Contact a company that offers skip hire services for assistance.