Insurance for Carpentry Contractors
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Coverage Plans for All Your Needs
Essential coverages for your carpentry business
General Liability (GL)Instant quote »
- Coverage against claims from bodily injury, property damage and personal injury
- Coverage for products/completed operations
Get protected against employment-related issues
GL + PL + Workers Compensation*Instant quote »
All Standard plan benefits and:
- Coverage for work-related accidents and disease and subsequent:
- Ongoing medical care (such as rehab)
- Missed wages during recovery
- Ongoing medical care (such as rehab)
*plus Workers Compensation
We've Got You Covered with Coverage You Need
With the different carpentry work taken on by these workers, there is much more to cover than expected. As a contractor you drive to others’ locations to complete jobs, you work with dangerous tools and equipment and you transport those things as well. Protect yourself and any employees from the risks of your daily work, as well as potentially unhappy clients who could sue for incomplete work.
Cover the risks and reduce the chance of losing your business in the event of damage, mistakes and accidents within your business with General Liability. It is one of the most important carpentry insurance because it is relied upon by companies in most every industry. The insurance will cover the property damage, bodily injury, personal injury, and related cases.
Any worker can get disabled at the time of their working career, and when that happens, you'll be glad that you have Disability Insurance. Disability Insurance pays some of the worker's salary when the worker becomes disabled; thus unable to work at his or her job. This covers the medical care or for long-term care services.
Most states require this insurance if you meet the minimum number of employees. Workers' Comp protects a Carpenter by paying medical expenses related to an employee illness or injury and the earnings lost during recovery. It makes sure that when your business is responsible, all employee bills are paid and the worker can't file a negligence claim against your business.
Professional Liability insurance will make sure that your carpentry business is protected against claims that your professional service or advice has caused harm to your customer, client or any third party. This carpentry insurance will pay the cost of the defense and any damages awarded.
To protect your carpentry business from the cost of auto accidents you'll need Commercial Auto insurance. This carpentry insurance will cover accidents that may happen while visiting locations, making deliveries or any other activities that involve on-the-job driving in company vehicles.
Frequently Asked Questions
How much is insurance for a carpenter?
The cost of insurance depends on the different kinds of carpentry insurance you buy for your business. General Liability insurance, an essential insurance for your business, usually costs $350 to $1,000. Carpentry Insurance will cost around $1500 to $2000, and an Umbrella Insurance is around $1000 for your business.
What risks do carpentry contractors face?
Without insurance, your carpentry business could face potential losses from income loss, liability claims, employees' injuries, illness or death, property damage, theft, loss or vandalism. Insurance can help mitigate the costs related to those risks.
Do carpenters need Professional Liability insurance?
Yes. Professional Liability insurance is necessary because you provide professional advice to your clients. Professional Liability insurance covers your business, your partners and your employees from the damage caused by providing or failing to provide professional advice. It also covers lawsuits for providing erroneous advice or acts of negligence on your business.
What type of surety bonds exist for carpentry contractors?
When your carpentry business is hired, a construction surety bond is usually required. It guarantees that you perform the promised contract. If you fail to meet your client's expectations, the surety company will pay the damages. A bid bond is also needed to protect the obligee in the event that the winning contractor is unable to take the job after securing the bid. This reimburses them from the difference between the principal's bid and the next lowest bidder.
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