Proven steps to reduce construction insurance premiums and mitigate risk
Save on Insurance Premiums with Construction Site Cameras
Insurance companies offer discounts to lower-risk clients who meet certain requirements. One of the easiest ways to take advantage of this is to deploy construction site cameras on the job site, which can help mitigate risk while providing a whole remote monitoring solution for busy contractors.
For a security-focused system, Sensera Systems’ SiteWatch PRO is a great pick. The SiteWatch PRO provides real-time motion-triggered security alerts for 24-hour site coverage. The video and motion detection features make this camera a favorite for both insurance companies and project managers.
If high-detail daylight monitoring is more your speed, Sensera Systems’ PTZ600 model offers real-time pan, tilt, and zoom capabilities with up to 360° site coverage. This camera allows you to set precise imaging parameters to capture highly detailed construction safety and progress information, or take the reins with real-time pan/tilt/zoom capable live streaming.
The MC line of fixed cameras can also save on insurance premiums while providing high-quality time-lapse imaging.
By deploying construction site cameras, Sensera Systems customers are saving big on their insurance premiums simply by showing the construction insurance companies that they’re taking steps to mitigate risk.
Follow and Enforce OSHA Safety Regulations
There were 174,100 construction injuries in 2020, and 1,034 deaths according to the U.S. Bureau of Labor Statistics. OSHA safety violations caused many of those incidents, and cost contractors more than just lost time. In the last year, OSHA violations cost contractors an average of $4,236 per citation, and that’s just the beginning. When a safety incident occurs in conjunction with an OSHA violation, contractors see a big hike in their insurance premiums.
Keeping up with OSHA training and offering refresher courses for seasoned employees are important steps in construction risk mitigation.
Even when employees know OSHA regulations like the back of their hand, ensuring they’re put into practice is a different matter. That’s why many contractors appoint a safety manager who can help boost safety compliance by correcting safety issues as they happen.
Site cameras are a great addition to safety managers in the field, but camera systems that can use AI to analyze PPE compliance and safety protocol adherence can further mitigate risk.
Sensera Systems’ job site cameras offer just that, with SiteCloud Analytics’ PPE compliance detection and traffic flagging analytics applications that automatically ensure safety protocols are being followed. These apps are now available for pilot use by Sensera Systems customers.
Demand Quality from Subcontractors
Just as construction insurance companies assume higher risk if their clients are lacking in safety measures, contractors assume a similar risk when they work with subcontractors or other companies to complete their project.
That’s why it’s important that all subcontractors are following safety guidelines on site and that they have an excellent safety record. It’s a good idea to screen every contractor before work begins to make sure they have the right liability insurance and follow OSHA guidelines. The financial risk of working with subcontractors who can’t provide proof of compliance with those requirements is high.
If something goes wrong when working with a subcontractor, it’s important to have video evidence of the incident, because video footage lowers liability and can help protect contractors from illegitimate claims in court. When paired with Sensera Systems’ SiteCloud Analytics, site cameras are a powerful risk mitigation tool and safety net.
By focusing on safety, contractors can save on insurance premiums, avoid OSHA penalties, and dodge risky business relationships, which can all save your bottom line.
Reach out to Sensera Systems today for more information about how site cameras and SiteCloud Analytics can help your company meet its goals.
