Cabinet Maker Insurance
Cabinet making is such a rewarding business. You can work with your hands, be creative each day, and make money doing what you love. You went to a lot of effort to plan and launch your cabinet making business and now you probably just want to enjoy it. Make that enjoyment all the easier by putting business insurance coverage into place that is designed specifically for your small cabinet shop’s needs.
General Liability For Cabinet Shops
General liability insurance covers your company if things go wrong. Whether a customer hurts themselves while visiting your cabinet shop or a storm tears off the roof, general liability can help protect you from the associated damages. General liability expands to cover potential problems in the future, as long as they’re not listed as excluded on the policy.
Business Owners Policy (Bop) For Cabinet Shops
Business owners insurance provides you with general liability and adds a number of different physical and tangible property protections. This insurance can be customized to include coverage that specifically helps your cabinet making business as protected as it can be.
- Equipment Breakdown – If your band saw breaks down in the midst of building custom cabinets, you could encounter hefty expenses to fix or replace it. A business owners policy (BOP) can protect you from those types of expenses.
- Buildings and Contents – Cabinet makers must have a dedicated work space to create their products. If your work shop, storage building or the equipment inside is damaged or destroyed due to a storm, a BOP can cover the costs of replacing and repairing them.
- Business Income and Extra Expense – If a storm causes too much damage to your work shop you may be forced to stop working for an extended period of time. That downtime is expensive in the form of lost income.
- Products and Completed Operations (Included in General Liability) – If you build cabinets for a customer that somehow causes them harm in the future, a BOP will cover the potential damages.
- Electronic Data – As a modern cabinet making business you probably keep important business and financial files in electronic format. You may also use expensive custom software to design cabinets for your customers. If these electronic assets are damaged from power outages, viruses and other hazards, a BOP can cover the cost of replacing or recovering them.
- Newly Acquired or Constructed Buildings – As your company grows you may find yourself adding new workshop space, buying a storage building or creating a customer show room. A BOP can protect those new business structures as you add them.
- Valuable Papers Protection – Valuable papers can include original customer and supplier contracts, warranty information and certification materials. Losing these due to natural disasters or unexpected events can be quite costly to your business.
- Employee Dishonesty Coverage – Employee dishonesty can cost your company as much as six percent of annual revenue. Dishonesty coverage helps protect you from those losses caused by dishonest actions. Some of the things it protects you from include credit card or computer fraud, and unauthorized funds transfers.
Workers Comp Policy For Cabinet Makers
If you have one or more people employed in or for your cabinet making business, you are required by law to carry workers comp insurance. This insurance protects your company from lawsuits if an employee is injured on the job. It also covers the cost of medical care and related expenses for your employees if they’re injured.
Commercial Auto Insurance For Cabinet Makers
Commercial auto insurance can protect company vehicles such as your installation or delivery vans. It also protects personal or rental vehicles if you use them for company purposes.
Cabinet Maker Insurance Cost