Lights. People. Action.
Read about the connection between skilled trade contractors and revitalization.
Learn why trade contractors need the protection of property and liability insurance.
Public Square in downtown Cleveland, Ohio, is lighting up with the construction of Sherwin-Williams’ new headquarters. Its design is a sparkling complement to the mixed-use transformation that has occurred around Public Square in recent years. According to a recent article in The Washington Post, Cleveland leads the nation in repurposing empty office buildings. Public Square is becoming a picture-perfect gathering space with a new global headquarters, new residential space, a welcoming park, and great restaurants. This remarkable revival could not have happened without the skills provided by licensed trade contractors.
Behind the scenes of new, repurposed, and restored building construction are the handprints of many skilled trade contractors. A sampling of 10 skilled trades that were and continue to be vital to Public Square’s new face:
- Ironworkers
- Welders
- Plumbers
- Electricians
- Carpenters
- HVAC technicians
- Insulators
- Painters
- Elevator Installers and Repairers
- Glaziers
Workers with experience and certification in at least half of the trades listed above are likely to be in high demand for years to come. What’s new or restored becomes old or worn. What’s old or worn needs repair or replacement. Skilled trade contractors build, fix, or replace essential systems and equipment that exist under every modern roof.
Plans for Cleveland’s revival don’t stop at Public Square. Redevelopment plans for both the riverfront and lakefront districts are mapped interactively. Ongoing opportunities will present for local skilled trade contractors. The amount of people who choose to live in, visit, eat, play, and shop in the City is rising. All of that activity expands and accelerates a repeating cycle that begins with new or restored and ages to the need for repair or replacement. Skilled trade contractors are critical throughout the entire cycle.
Risk is associated with any trade contracting business. Not all risk is insurable, but a good independent insurance agent is knowledgeable in what type and amount of property and liability insurance coverage are necessary to address common exposures. For example, equipment is particularly susceptible to theft and vandalism. Several of the skilled trade contractor categories listed above use expensive equipment that may be stored in a commercial building and/or moved in transit to jobs. Sometimes equipment is kept at a job site. These circumstances require inland marine coverage and scheduling of expensive individual items of equipment. Work vehicles parked or in operation present both property and liability exposures that could seriously dent or wipe out altogether the business of a trade contractor not properly insured. Third party liability claims alleging property damage or bodily injury resulting from the trade contractor’s work are potential threats. A good working relationship with a quality independent insurance agent is an important bridge to obtaining property and liability insurance that protects the assets of a trade contracting business. Be aware that actual policy terms, conditions, and limits always apply.
Richey-Barrett Insurance is a Trusted Choice Independent Insurance Agency experienced in insurance for a variety of trade contracting businesses in size and specialization.
