Carpentry businesses face many potential hazards. If an employee is injured on the job or damage occurs to your business premises, you could be held liable and face costly legal bills as a result.
Business insurance for a carpenter can help reduce risks to your livelihood and protect it against financial ruin. Which carpenter policy you need will depend upon the requirements of your specific business.
General Liability Insurance
While carpenters are skilled professionals and make every effort to stay aware of their surroundings, accidents do happen and when they do can cost thousands to repair the damage. General liability insurance protects carpenters against costly lawsuits by covering medical bills, legal fees and settlements should they incur them.
Even carpenters working independently should obtain commercial general liability insurance to protect their business, in case an employee breaks an arm on a job site and files a claim against your business – this would protect both parties, since any hospital bills or legal expenses for defending against such claims would likely fall on you to cover.
For projects that involve transporting materials such as cabinets or custom furniture to their job sites, such as cabinets or custom furniture, an installation floater policy is highly recommended. This coverage protects materials if they’re stolen or damaged during transit – this is particularly essential for small businesses operating out of cars or trucks.
Commercial Auto Insurance
No matter where your carpentry business takes them on the job site or for supplies, commercial auto insurance should always be included as part of its plan. It protects both owned or leased vehicles owned or leased to your business for damage, theft, and loss as well as protecting any expenses should an employee become injured on the job.
Accidents on construction sites can still happen, no matter how well planned. Imagine that while walking by, someone walks past your worksite and an unfinished plank falls and injures them severely – without appropriate insurance you could find yourself facing hospital bills and legal fees of their injuries. A business owner’s policy (BOP) bundles general liability and commercial property coverage into one package to save you money on premiums. Get a quick and easy carpenter business insurance quote now to be ready for anything, and licensed agents are on hand to help find policies suitable for your small business – either by calling them directly or starting online quoting services. Although getting carpenter insurance may seem like another task on an already full plate, protecting yourself and your livelihood should never be taken for granted.
Business Owner’s Policy (BOP)
As carpenters work on construction sites with heavy materials and sharp tools, accidents are bound to happen despite all precautions taken to prevent injuries to employees or theft of your toolbox. Such incidents could cost your business thousands in hospital bills, legal fees and lost income.
No matter the size or type of your business, having an all-encompassing insurance policy in place to mitigate risks is vital to its success. As one of the leading business insurers in the US, Nationwide provides carpenters with general liability and BOP policies with low average premiums and attractive policy quote rates – perfect for managing risk management in their professional endeavors.
claims, lawsuits, and unexpected expenses can quickly threaten a carpentry business’s existence without adequate protections in place. With Thimble Carpenters Insurance you can quickly secure flexible carpenter coverage at an hourly, daily, or monthly rate and easily add Additional Insureds or change policy length through their app.
Errors & Omissions Insurance
Professional liability or errors and omissions (E&O) insurance provides legal fees and damages if your work causes your client to experience financial loss as a result of it. Carpenters need this policy type because it protects them against claims of negligence or substandard work performed on projects they complete.
Your E&O policy could provide protection from disciplinary proceedings brought by your trade association or licensing agency, crisis management costs and responding to subpoenas by producing documents or testifying before subpoenaed authorities.
Unexpected events could put your business at risk. From employees falling off ladders, toolbox theft or natural disaster closing your shop – to losing customers due to these events – any one can have devastating repercussions for business savings. With carpenter business insurance in place you’re better prepared to face whatever comes your way – get a quote now and secure yourself for future storms!
