(888) 900 0205How Much Is Welder Insurance
The cost of welder insurance depends on several factors, including the type of coverage, the size of your business, location, and your experience in the trade. Here’s a general breakdown of what you might expect for the two main types of insurance:
General Liability Insurance
- What it Covers: This protects you if someone gets hurt or property gets damaged because of your welding work. For example, if a spark from your work causes a fire or someone trips over your tools.
- Cost:
- On average, general liability for welders costs $899 to $2,900 per year.
- For a small, solo welder, you might pay closer to the lower end, like $90–$115 per month. Larger operations or those handling high-risk projects may pay more.
- Factors Affecting the Price:
- Project types: Are you welding pipelines or just fixing fences? Higher-risk jobs mean higher premiums.
- Coverage limits: A standard policy covers $1 million per claim, but increasing the coverage raises the cost.
Workers' Compensation Insurance
- What it Covers: If you or your employees get hurt on the job, this pays for medical expenses and lost wages. For example, burns, falls, or respiratory issues from fumes are common risks in welding.
- Cost:
- On average, workers' comp for a welder costs $2,450 to $7,000 per year for welders.
- The exact rate depends on the size of your payroll. Typically, insurers charge between $7 and $18 per $100 of payroll.
- Factors Affecting the Price:
- Number of employees: More employees mean higher premiums.
- State requirements: States with strict workers' comp laws or higher claim rates will push costs up.
- Safety history: A business with fewer accidents or claims usually pays less.