Carpenter’s Insurance

As a carpenter, you know the importance of having carpenter business insurance to safeguard your work and assets. This insurance provides coverage specifically tailored for the unique risks associated with carpentry, classified under NAICS code 238350. As a carpenter, you’re responsible for constructing, installing, and repairing structures made of wood and other materials. Carpenter business insurance can cover a range of potential liabilities, from property damage to bodily injury that may occur during a project, ensuring you’re financially protected if an accident happens on the job.

General Liability

Property Coverage

Auto Insurance

Workers Comp

Tools Coverage

What's Covered

As a carpenter, here's what you can do under this classification:

Install and repair wood framing, doors, windows, and trim.
Build and install cabinets, shelving, and furniture.
Perform rough and finish carpentry for both residential and commercial projects.
Install flooring, including hardwood, laminate, and other wood-based materials.

However, under this classification, you cannot:

Perform electrical work.
Engage in roofing or related repairs.
Conduct plumbing or HVAC installations.
Carry out large-scale excavation.
Handle masonry or concrete work.

Other Coverage

Business Owner's Policy (BOP)

- Coverage: Combines general liability and property insurance into one package, covering damages to your business property and protecting against claims of injury or property damage.
- Importance: Simplifies coverage management while providing essential protection for both liability and property risks.

Business Auto Insurance

- Coverage: Protects your work vehicles, covering accidents, theft, and damage while transporting tools and materials.
- Importance: Essential for keeping your operations running smoothly and covering the costs of repairs or replacements.

Surety Bond

- Coverage: Guarantees the completion of a project as per the contractual agreement, providing financial security to your clients.
- Importance: Builds trust with clients and helps secure larger projects, as many require bonding before work begins.

Workers' Compensation

- Coverage: Provides medical benefits and wage replacement to employees injured on the job.
- Importance: Ensures compliance with legal requirements and protects both your employees and your business from costly lawsuits.

Excess Liability Insurance (Umbrella)

- Coverage: Provides additional coverage beyond the limits of your general liability policy, covering major claims and lawsuits.
- Importance: Offers an extra layer of security, especially useful for larger projects or high-risk work environments.

Claim Examples

Bodily Injury: A client trips over a tool left on-site and suffers a broken arm.
- Coverage: Your general liability insurance covers medical expenses and potential legal fees.
- Importance: Protects you from out-of-pocket expenses and possible legal action.
Property Damage: You accidentally damage a client’s expensive hardwood flooring while moving equipment.
- Coverage: The general liability portion of your BOP covers repair costs.
- Importance: Ensures the incident doesn't impact your finances or reputation.
Business Interruption Loss: A fire damages your workshop, halting operations for several weeks.
- Coverage: Business interruption insurance covers lost income and ongoing expenses during the downtime.
- Importance: Helps you recover and keep your business afloat during unexpected disruptions.
Business Personal Property Loss: Your tools are stolen from a job site overnight.
- Coverage: Covers the cost of replacing stolen equipment under your property insurance.
- Importance: Allows you to quickly replace tools and avoid project delays.

How Much is Carpenter Insurance

The cost of insurance for a carpenter business depends on multiple factors, such as the size of your business, the type of work you perform, and the specific coverages required. Additional considerations include the number of employees, your location, and the value of your tools and equipment. Based on your unique circumstances, here’s what we might be able to offer.

Carpenter Business Insurance FAQ

We’re big believers in keeping things simple, so ask us anything and we’ll answer honestly and without the jargon.

Why Do Carpenters Need Insurance?

Carpenters need insurance because they have a high amount of risk due to tools and equipment found on job sites. If someone gets hurt or a claim leads to property damage, the carpenter is responsible for the loss. If the loss is large enough, it could be a financial strain on the carpenter, even leading to bankruptcy.

What Are The Risks Facing Carpenters?

Tools and equipment are the top risks facing carpenters. Carpenters should employ safety practices on job sites, but even these can’t keep everyone safe in all circumstances. Some things are simply out of the carpenter’s control.

How to prevent jobsite accidents?

Get Trained: Ensure you know the safety procedures and proper tool usage.
Suit Up: Always wear the necessary protective gear on the job.
Tool Care: Keep your tools in good condition and use them properly.
Lift Right: Use correct lifting techniques to avoid injury.
Keep it Clean: Maintain a tidy work area to prevent accidents.
Ladder Smarts: Always secure ladders and scaffolding before climbing.
Safe Storage: Store materials properly to avoid hazards.
Breathe Easy: Work in areas with good ventilation, especially with dust or fumes.
Mind the Wires: Be aware of electrical dangers and avoid live wires.
Check Regularly: Inspect tools and your work area often to spot any risks.

What to know before buying carpenter insurance?

Obtain all your insurance requirements from contractors, subcontractors, vendors, clients, state or local government offices, or whoever wants to check your insurance before you purchase this insurance. This ensures that all your coverage needs are met.

Are Monthly Payments Available For Carpenters ?

We offer easy monthly payment plans with most of the polices. Usually a down payment is required to start. Payment plans may include 9 or 10 monthly options depending on the qualifying business.

Can I change my policy?

It depends. You can make changes like updating your address or contact information, and in some cases, adjusting coverage limits. It's best to contact your agent to discuss specific changes.