Insurance for Tile and Terrazzo Contractors
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What Insurance Do Tile and Terrazzo Contractors Need?
Errors & Omission Insurance (E&O), is a type of professional liability insurance. It protects you from being legal claims that you made a mistake when offering your services. E&O covers your defence fees & settlement costs.
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.
Commercial Property Insurance will provide coverage for your properties in case damage renders them impossible to rent or lease.
Commercial Auto Insurance covers your cars, trucks, and vans used in your business. It covers the costs from vehicle damage in collisions, theft, vandalism and weather damage. It also covers medical expenses for to injured parties.
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!
Frequently Asked Questions
Why do Tile and Terrazzo Contractors need insurance?
Companies categorized under this industry work with ceramic tile, stone, and terrazzo setting and installation.
As a tile and terrazzo contractor, customers rely on you to add beauty to their homes. Whether you work with ceramic tile, stone, or terrazzo; attention to detail and your workmanship are essential in delivering quality work homeowners and businesses can be proud of. These aren’t the only things you need to be concerned with. Tile and terrazzo contractors are also risk claims and lawsuits.
What risks do Tile and Terrazzo contractors face?
- Third-Party Injury: Equipment is needed on site to deliver quality work. No matter the training, it is easy for employees to forget about the organization. Customers or visitors may trip over these materials and injure themselves, and you're financially responsible.
- Property Damage: You complete onsite services which mean you risk damage to customer property. Damage to customers’ fixtures or flooring leaves you responsible for replacing or repairing it.
- Car Accidents: Employees travel to job sites, placing them 'at work'. If they cause an accident driving a business or personal vehicle, you're responsible for all damages.
- Employee Injury: Despite special training for equipment, accidents happen. When employees are injured on-the-job, it is your responsibility to pay medical expenses.
- Loss of Business Property: You store thousands of dollars of material and equipment in a warehouse. What happens if a fire destroys it or a criminal steals or vandalizes it?
Buying insurance for your tile and terrazzo contractor business is the only way to protect your finances and reputation, and continue business.
How much does Tile and Terrazzo Contractor insurance cost?
Every tile and terrazzo contractor is unique in how you conduct business, which means no two contractors will pay the same price for insurance. Carriers look at your experience, employee experience and training and contracts you use to help calculate the premium. Request a quote below to calculate your insurance costs today.