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Whether you’re constructing a new building or improving an old house, being a carpenter can be a rewarding job. But it can also be dangerous, both for you and for anyone on your worksite. For this reason, carpenter insurance is not only recommended, but also required in most cases. And for the ultimate peace of mind, you need to make sure your policy has more than just the minimum coverage. Here’s a look at the kind of coverage your carpenter insurance should include. Once you have an understanding of the best policy for you, please contact us for a quote.
What Type Of Insurance Carpenters Need
For best results, your carpenter insurance policy will include the following kinds of coverage so you’re fully protected in your job:
- General Liability
- Tools Coverage
- Auto Insurance
- Surety Bond
These are the minimum coverage options, so be sure to add more for additional protection at work.
How Much Is Carpenter Insurance?
The amount you will pay for carpenter insurance depends on a few details, such as your location and the exact coverage you want to buy. But the following should give you an idea of your anticipated costs:
- General Liability Insurance for a Carpenter starts at around $500 per year.
- Tools Coverage for a Carpenter starts at $200 per year for $10,000 tool inventory.
- Auto Liability Insurance for a Carpenter starts at $900 per year for a pickup truck.
For a more accurate carpenter insurance quote, please contact us.
How To Get Carpenter Insurance
Before you purchase a carpenter insurance policy, it’s important for us to find out some information about your role in your job. Note that the more information you tell us, the more accurate your carpenter insurance quote will be.
Carpenter Liability Insurance Explained
As a carpenter, you mostly work at jobsites where you’re building structures and more. For this reason, you need general liability insurance that pays for any accidents that may occur when you’re working. For example, if a customer visits the building you’re working on and steps on a nail, your general liability coverage will pay for his or her medical bills so you don’t have to pay them yourself. In addition, if you damage the property you’re working on, your liability coverage will pay for the repairs that may be necessary.
Carpenter general liability insurance doesn’t end there. It also pays for your legal fees if you’re ever accused of slander, libel, or copyright issues within your ads. Additionally, it will pay for repairs if the office you’re rental is damaged by a fire. That’s why you need carpenter insurance policy.
Carpenter Tools Coverage
You can’t do carpentry without using a variety of tools and equipment. From a hammer and nails to a measuring tape and saw, you would be lost without your basic tools. The same goes for any power tools or large equipment you might use as you construct buildings and more. If you would not be able to afford to instantly replace these tools and equipment if they were ever lost or stolen, you need to add tools and equipment coverage to your carpenter insurance policy. This helpful coverage is meant to pay to replace any tools or equipment that you purchased or rented for your job as a carpenter.
Carpenter Auto Insurance
Carpentry requires you to drive to different jobsites quite often. All this driving can improve your odds of getting into a car accident on the way to or from work. Normally, you can rest assured that your personal car insurance would pay for property damage and medical bills, but this doesn’t apply when you’re driving for your business. This is why you need commercial auto insurance coverage added to your carpenter insurance policy. Without it, you could be stuck paying for any car repairs and hospital bills out of your own pocket, so it’s crucial coverage to get!
As a carpenter, you need a surety bond to show that you intend to finish every job you start. Not only is this recommended to help your customers gain confidence in your services, but it’s also frequently required for many carpentry jobs. Fortunately, it’s easy to add surety bonds to your carpenter insurance policy. Consider the following types of bonds when deciding which ones to add to your policy as a carpenter:
- Carpenter License Bond
- Contract Bond
- Performance Bond
- Janitorial Bond
- Dishonesty Bond
- ERISA Bond (For Directors and Officers)
- Bid Bond
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