Contractors Insurance for Carpenters

Whether you’re a remodeler, deck installer, or repair roofs, there’s a risk with everything you do when it involves carpentry. When accidents do happen, having the best coverage possible can take the weight off your shoulders. What insurance policy do I need? There are a variety of contractors insurance policies to choose from, including bundling options. The most common insurance plans for carpenters include:

  • Commercial Auto: Having this insurance policy for your work vehicles can protect you from out-of-pocket costs in an accident. This policy will cover expenses related to damages to any vehicle involved, medical services received, or any equipment that becomes damaged.
  • Commercial Property: If your equipment is stolen or damaged while on-site, this policy will cover any repairs or recovery costs.
  • Commercial General Liability: This policy is essential because it protects you and your business from legal fees and settlements. It also provides coverage for third-party injuries and property damages.
  • Workers’ Compensation: In many states, it’s mandatory to provide workers’ compensation for your crew. If they obtain work-related injuries, those costs will be covered and won’t have to come out of your pocket.
If your business is new, but you have not invested in an insurance plan yet, consider investing in a plan before you start a project with a client. Doing so will give you the added protection and security in the event of an accident happening while working on the project. Before you make the ultimate decision on which plan you would like to invest in, make sure to understand the full scope of your policy and what will and will not be covered with the insurer. What are the costs? Each insurance policy comes with a different price, all of which are determined by various factors. These factors include:

  • Location of your business
  • The company itself that you choose as the insurer
  • Deductibles
  • How many employees you have
  • Per-occurrence limit (this is the maximum amount paid by the insurance company to cover a single claim)
  • General aggregate limit (this is the most money an insurer is compelled to pay to an insured party during a designated period)
We work with you! By working with an experienced insurance agent, you can find better deals for the type of contractor’s insurance that you need for your carpentry business. At Barnhart Insurance, we offer free help to compare costs, help with plans, and estimate your savings. Give us a call today at 586-506-0340 or send us a message by clicking here.