{"id":423960,"date":"2024-11-20T09:01:00","date_gmt":"2024-11-20T09:01:00","guid":{"rendered":"https:\/\/www.saipantribune.com\/?p=423960"},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-29T14:00:00","slug":"Managing-Insurance-for-Your-Seasonal-Construction-Business","status":"publish","type":"post","link":"https:\/\/www.saipantribune.com\/index.php\/Managing-Insurance-for-Your-Seasonal-Construction-Business\/","title":{"rendered":"Managing Insurance for Your Seasonal Construction Business"},"content":{"rendered":"

(BPT) – For many contractors who work seasonally, winter may signal an end to their busiest time of year; for others, winter is the start of their busiest time. No matter when your busy season is, the annual lull in active projects presents an opportunity to assess business performance, set new goals, and streamline operations \u2014 and that includes managing your insurance<\/a>.<\/p>\n

As the in-house construction consultant at Acuity Insurance, John Lack leverages more than 35 years of contracting experience to help construction businesses improve important aspects like risk management, jobsite safety, project management and overall profitability. With a background in overseeing the construction of supermarket locations throughout the Midwest, Lack knows firsthand how critical it is for contractors to pair their service offerings with the right insurance coverage.<\/p>\n

\u201cProfit margins in construction are notoriously thin,\u201d Lack says. \u201cThe seasonal nature of the business means cash flow can fluctuate dramatically. The last thing contractors need during the slow season is insurance-related stress. Instead, insurance should be a tool to help them manage these transitions more smoothly.\u201d<\/p>\n

Lack offers a few key suggestions for ensuring contractors get the most out of their insurance, especially during slower periods:<\/p>\n