Drywall Contractor Insurance & Insulation Contractor Insurance
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What Insurance Do Drywall Contractor & Insulation Contractor Need?
A Fiduciary Bond (or Surety Bond) protects a fiduciary - someone who is granted power over another person’s interests or assets via a will or contract - from being sued for alleged fraud, embezzlement, or dishonest acts.
Workers Compensation covers your employees' medical costs and lost wages while recovering from a work-related injury or illness. The employee gives up the right to sue your company in return for receiving cash and benefits from Workers Compensation. In some states it’s mandatory for businesses!
Professional Liability Insurance (or E&O Insurance), protects your small business from claims of mistakes, negligence or malpractice made when providing your services that caused sobody financial loss. PLI covers your legal defense costs, damages and settlements.
General Liability Insurance protects your small business against claims of third-party bodily injury and property damage, reputational harm and advertising injury. It covers medical bills, repair costs & legal fees.
Frequently Asked Questions
Why do Drywall Contractor and Insulation Contractors need insurance?
Companies categorized under this industry do drywall, plaster, and building insulation work. Other services include firestop provision, additions, alterations, maintenance, and repairs.
Drywall and insulation contractors need insurance to protect their business from the many risks associated with owning such a business. Insurance will pay for the covered expenses and make sure that when it happens you won’t have to pay for these expenses out of your pocket. And all it takes is just a monthly payment to secure your business’ future.
What risks do Drywall Contractors and Insulation Contractors face?
Drywall and insulation contractors face many risks. Below are some of those:
- The drywall construction you finished for your client ends up a low quality work that results in a huge financial loss to your client. Your business can be sued for the damages.
- Your employees could be sick or injured on the job. Your business will be responsible for paying for their medical fees and lost wages.
- Your drywall installer failed to do the contracted work, losing your client’s money in the process. Your business could get sued in the process.
How much does Drywall Contractor Insurance and Insulation Contractor Insurance cost?
The cost of your insurance policy varies on the type of services you offer, the number of employees you have and the coverage needed for your business. To get a quote for your business simply take our online assessment or give our customer service a call. We’ll be able to provide insurance that meets your needs and your budget.