Insurance for Siding Contractors
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What Insurance Do Siding Contractors Need?
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.
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!
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.
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.
Frequently Asked Questions
Why do Siding Contractors need insurance?
Companies categorized under this industry install gutters, downspouts, and siding panels. Workers in this industry do not use bricks, stones, stucco, or curtain wall.
Siding contractors need insurance as it covers the expenses of the many risks that your business can encounter. It covers your business for medical expenses, property damage, and lawsuits.
What risks do Siding Contractors face?
Below are some common risks siding contractors can face:
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Your client claims that you did not complete the contracted work, and sues your business for the damages.
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A client entering your office unknowingly trips on a loose wire. This causes your client to suffer a broken arm. You were able to provide medical expenses for your client but they decide to sue your business for the damages.
How much does insurance for Siding Contractors cost?
There is no fixed cost of insurance for siding contractors as it mostly depends on the size of your business, the number of employees you have, and the coverage your siding contractor business requires. But if you want to find out the cost of your insurance, simply apply online to get a free quote and we'll send it to your inbox right away.