Are you in the United States looking for carpenter’s insurance? If so, our insurance team at Contractors Liability® is ready to answer some common questions for you and provide you with a free quote as well.
Carpenters – we salute you. You’ve given us so much: from the roofs over our heads to the buildings we shop from. Carpentry takes an immense amount of skill, carries an immense amount of risk, and can go unrewarded even if the job completes or exceeds client expectations. A significant responsibility is placed on the shoulders of the carpenter, and with that risk comes the chance for great rewards.
Contractors Liability wants our carpentry clients to know that their services do not go unnoticed. We can help provide carpenters with the insurance they need to get the job done right, regardless of the risk. This page has been made for our clients with the intent that they will use it to make the right decisions about their general liability insurance. For more information about how we can create a personalized plan for you, please contact us at your earliest convenience. We look forward to serving you.
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What is Carpenter’s Insurance?
Carpenter’s insurance is a custom-tailored insurance plan that provides liability coverage to carpenters and carpentry businesses. This type of insurance will cover an accident involving a third party if it occurs on a site you are working on. Although carpenters are highly skilled and highly aware of their surroundings, accidents on carpentry sites still happen. That is why it is so important for carpenters to get this form of insurance so that they are always covered in the case of an accident.
Here are some of the more common accidents that carpenter’s insurance covers, as well as some carpentry-related examples of these accidents.
- Injuries to the Body: Any time a third party is injured on your work site as a direct result of the services you provide.
- Example: Unsecured lumber falls and hits a client, causing substantial bodily injury.
- Damages to the Property: Any time in which property, adjacent or otherwise, is damaged during construction.
- Example: Improper installation of a set of cabinets in the kitchen causes damage to the plumbing within the walls of the house.
- Personal Injury: Any damage that causes harm to the reputation or emotional state of a client or third party.
- Example: Less than satisfactory carpentry at a horse boarding site causes a few horses to escape, which damages the reputation of the establishment.
- Advertising Injury: Any false claim or direct attack made against a third party, as in libel, or a copyright infringement.
- Example: Your company’s logo is intentionally made to look like the logo of a rival company, causing confusion among mutual clients an unfair loss of competitive business.
- Medical Payments: Any time a third party sustains a physical or mental injury at your worksite and receives medical attention. Because of this, your company is technically at fault.
- Example: A customer sustains a broken arm as a direct result of the carpentry job you are working on. You are entitled to pay the bills for that customer’s treatment.
Carpenter’s Insurance Cost
Contractors Liability understands that cost is always a concern for companies, regardless of their size or yearly income. While many of the determining factors for insurance are out of the hands of both carpentry professionals and insurance companies, it’s important to understand how insurance rates are determined. Here are some of the factors that might weigh in on determining the cost of your carpenter’s insurance rate.
- Policy Features. Not all policies are created equal. Sometimes, insurance policies come with extra features that your company might not need. In such situations, a licensed insurance agent will be able to help you decide the best course of action.
- Your type of business. Carpentry isn’t the riskiest contracting business in the world, but there are still certain risks that come with the trade. This does become part of the consideration of cost, but carpenters shouldn’t worry too much – it’s not usually the most important feature of insurance cost calculation.
- The size of your business. The more workers you have, the higher the insurance rates you must pay. Each worker provides an additional risk when it comes to preparing for an accident. Should you be worried about the size of your business making your cost higher? Don’t be. A licensed insurance agent will help you weigh the cost of insurance against the potential costs of employee-based accidents.
- Company location. Believe it or not, being in a higher-end neighborhood makes as much of an impact on your insurance rates as living in a more dangerous neighborhood. We get it – it’s confusing. But asking Contractors Liability about the ways location impacts your insurance rate is one of the best ways to save in the long-term.
Why Should Carpenters Choose Contractors Liability?
You wouldn’t settle for standard quality when it comes to the most important aspects of your life. So, why would you settle for a plan that’s full of holes and vulnerabilities when it comes to insurance? Personalized insurance coverage through Contractors Liability includes:
- Licensed insurance agents who are dedicated to our general contractors and artisan contractors
- Flexible rates from A-Rated insurance providers
- Our policy customization process helps your company feel comfortable about the work it does
About Carpenter’s Insurance
Is carpentry considered one of the riskier contracting careers to insure?
Carpentry isn’t as risky as electrician’s work, excavation, or some of the more life-threatening jobs associated with general contracting. However, carpentry does come with inherent risks, and it is those risks that our knowledgeable insurance agents seek to get covered with the help of the insurance companies that we work with.
What happens if I don’t get carpenter’s insurance?
In a worst-case scenario, failure to cover your company with carpenter’s insurance can result in hefty fines from states in which carpenter’s insurance is mandatory. However, in most cases, it can cost you a bid on a job as most clients looking for carpentry work are also looking for someone with liability insurance coverage. Other losses might include reputation loss, significant financial loss, and loss of your right to work as a carpenter. Be sure you are covered in all these respects with the help of one of our licensed insurance agents.
Are my employees covered under my carpenter’s insurance?
Carpenter’s insurance covers third parties only. In most states, it is a requirement to offer some form of worker’s compensation. If this is a concern, get in touch with one of the agents at Contractors Liability to ensure that you have coverage for everyone you intend to work with.
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