People depend on professional siders for many reasons. However, requires a specialized skill set. When a trade is this specialized, they often carry the potential to cause serious accidents.
Without the right insurance plan, your company could have a lot to lose should something unfortunate occur. But with the right coverage, siding companies can do the work they do best without the fear of an accident weighing them down.
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What is Siding Insurance?
Siding insurance is not always required, but the consequences could be disastrous even in states where you don’t need it.. Without some form of liability insurance, you run the risk of losing business to competition that makes it a point to have liability insurance. You will also have to pay out of pocket for expenses.
In worst case scenarios, you could lose your license to operate as a contractor. Navigating local and state laws are tricky, but it shouldn’t dissuade you from obtaining insurance. Let Contractors Liability help you get the coverage that you need, as well as the information you need about your legal requirements, that way you’ll never find yourself in a messy situation.
Siding Insurance Cost
No two insurance policies are alike, and this is because each individual and company comes with its own set of risks that it wants covered. Each of these unique considerations plays their part in determining how much an insurance policy will cost.
This is why it is important to discuss all the details surrounding your business with your insurance provider prior to choosing a general liability insurance plan.
While many of the elements that contribute to insurance cost are unavoidable, an insurance company like Contractors Liability will help you get the best rate on coverage, based on your unique needs. Here are a few things we take into consideration prior to the creation of a quote:
Number of Employees
Simply put, the more people involved in a project, the higher the chance of an accident. This can make insurance policies higher, but having liability insurance will save you a lot of money and stress, should a claim be made by a client or third-party.
Your company’s accident history
Accidents happen, otherwise there’d be no need for insurance at all. However, if your company has a track record of having many accidents over a short period of time, it’s likely you’ll receive a higher rate, a lower limit, or both.
Where your business is located.
Location counts, but why? If your company is in one city and does most of its work in outside locations, that could drive your rates up slightly. The more you drive and the further away your center hub is, the higher chance an accident can occur en route to a worksite.
Do your employees have to pass a certain level of trade school before being hired? If so, your insurance rate might be affected one way or another, as it says that you care about the work your company does to the point where you make sure that your employees understand what they are doing when they’re doing it.
What Does Siding Insurance Cover?
Contractors Liability provides general liability coverage for siding contractors that is based on the needs of industries reliant on siding work. If you want a better idea of how siding insurance might help you, check out some of the common accidents that siding companies can have covered by general liability insurance.
Injuries to the Body:
Any sort of harm done to the third party or client’s person that is a direct result of your company’s actions
Example: A large piece of debris from a siding project falls and hits the head of a passerby.
Damages to the Property:
Any harm done intentionally or unintentionally to a client or third party’s property
Example: Your siding truck rips up part of a client’s lawn and the affected area must be re-seeded.
An injury caused by someone at your company that harms the reputation of a customer or third party, either intentionally or unintentionally
Example: A poor siding job at a commercial client’s place of business causes your client to lose customers or keep the business closed until repairs are made.
An intentional or unintentional action taken against a client or a third party during an advertisement campaign
Example: Your company uses pictures of a poor siding job done by a rival in your most recent advertising campaign. This causes your rival to lose business.
Any payments that are made because of an injury done to a third party.
Example: The third party who was hit in the head by debris sustained a severe concussion and had to spend a few days in the hospital. Your liability insurance can cover these hospital bills.
Frequently Asked Questions (FAQ)
The following are common questions about Siding Insurance.
Siding isn’t a typical business. It requires a highly nuanced skill set, and it carries a fair amount of risk. Contractors Liability understands the risks contractors take and we’re ready to help you get the right coverage for the right price. Some of the other things we offer to keep our clients well-informed and well-protected include:
- A-rated insurance packages from well-known companies.
- Affordable coverage and trusted service.
- Customer satisfaction guarantees.
- Personalized packages that take your specific needs into consideration.
- Licensed insurance agents armed with a deep understanding of what contractors like you need.
ContractorsLiability.com is here to help with all your insurance coverage needs, including specialized plans and tailored insurance policies. All our highly trained agents can help you in English or Spanish.
At Contractors Liability we value and respect your privacy. That’s why we don’t sell or share your information with any third parties and we only use it for our commercial purposes.