Contractor - March / April 2019 - How to Gain More Control Over Workers’ Comp Costs

March / April 2019

Take a Closer Look

How to Gain More Control Over Workers’ Comp Costs

Many contractors can’t help but notice that workers’ compensation premiums are their single highest insurance cost. This article suggests taking a closer look at why this is, including researching classification codes, forecasting postaudit adjustments and being wary of owner-controlled insurance programs. A sidebar advises contractors to factor workers’ comp costs into their estimating process.

Protecting Your Heavy Equipment From Jobsite Theft

Many contractors are surprised, most unpleasantly, to learn that their heavy equipment can indeed be stolen from jobsites. And the resulting costs and hassle are considerable. This article offers a variety of measures to prevent becoming a victim, including double-checking fencing and lighting, and thoroughly documenting assets.

Four Reasons Why Construction Companies Fail

Most contractors like to stay positive, but it can be productive from a strategic planning perspective to think worst-case scenario: What could cause the demise of one’s construction company? This article discusses four common reasons for construction business failure and how to prevent them.

Homebuilder Looks to Up Its Telematics Game

This issue’s “ Construction Success Story ” features a company that specializes in building and servicing luxury residences. It had been using telematics technology to track vehicles for years but wanted to upgrade without losing control of costs. So, ownership consulted with the company’s CPA, who helped them explore three hot areas in telematics: integration, built-in equipment purchases and safety features.