Ceiling Installer Contractor Insurance

The ceiling installation industry is growing right along with the housing industry, so it should come as no surprise that it is expected to grow by about 16% by 2022. If you own a small business in this field, you need the right ceiling installer contractor insurance policy. The right policy is one that will fully protect yourself and your small business, which means that it will include the following types of coverage.

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General Liability

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Property Coverage

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Auto Insurance

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Workers Compensation

General Liability

You likely spend most of your day at the homes and businesses of your customers as you install ceilings. If anyone happens to trip over your ceiling installation equipment or materials, you could be held liable for any medical treatment that is necessary. The same goes if you have an office and any visitors hurt themselves there. Even if they run over a nail in your parking lot, you might have to pay for a new tire.

If you do not want to have to worry about paying for such accidents, you need ceiling installer contractor insurance, since it includes general liability. This coverage will pay for the repairs and medical bills for which your business is responsible. It will even pay for your legal defense if another business claims you have committed slander or libel, or that you stole any intellectual property from them.

Business Owners (BOP)

A BOP is the combination of a few kinds of coverage that you want in your business insurance policy. One of the most important things to know about the BOP is that it will pay for the repairs to your building if it is ever vandalized, burned down, or otherwise damaged. It will also pay for other expenses, such as accounts receivable, equipment breakdown, and sewer and drain backup.

Commercial Auto

Since your business requires you to travel frequently to install ceilings, you need commercial auto coverage. This part of ceiling installer contractor insurance will cover any accidents you cause when you are driving for business. Keep in mind that your personal car insurance will not pay for such accidents, so it will not work in the place of commercial auto insurance.

Workers Compensation

If you have any employees working for your ceiling installation business, you need workers comp. This part of your ceiling installer contractor insurance is meant to pay for the medical bills of any employees who are hurt on the job. When you spend your workday installing ceiling materials, there are lots of risks, so this is an important part of your business insurance. Employees should not have to pay for their own medical bills or miss out on wages when they are hurt working for you, so you need workers comp.

Excess Liability

Your ceiling installer contractor insurance policy includes general liability, but this does not automatically mean every eligible claim will be completely paid for. If you happen to be facing a costly lawsuit, your liability coverage might run out before the total is paid off. You will then be responsible for paying the rest, unless you have excess liability.