Plastering Contractor Insurance

As the housing market recovers, the plaster industry will become more popular than it was a few years ago. In fact, it will likely see double digit growth in the next five years. If you own a business in the plaster industry, you should double check your plastering contractor insurance to ensure that your company is fully protected. Your policy needs to include the following coverage types.

General Liability for Plastering Contractors

As a plastering contractor, your job involves being at your customers’ homes so you can improve their property. But once in a while, you accidentally damage it instead. Whether you simply worsen the problem you are there to fix or create a new one, general liability will ensure you do not have to pay for repairs out of pocket.

There is also a chance that the customer whose house you are repairing will become injured after tripping over your tools or equipment. In that case, the general liability coverage included with your plastering contractor insurance policy will pay for any medical care that is needed. This portion of your business insurance will also pay for any lawsuits resulting from a competitor accusing you of slandering, libeling, or copying their business.

Business Owners (BOP)

As a plastering contractor, you need a BOP to make sure you have the types of coverage that can benefit your business. Some examples of the coverage this type of business insurance covers include forgery and alteration, fine arts, and equipment breakdown. Perhaps most importantly, a BOP can pay to replace anything you lose to theft or a natural disaster. In addition, it will pay to repair your property after it is damaged. Considering that few business owners can afford to pay out of pocket to rebuild their property or replace the contents in the event of a disaster, a BOP is definitely helpful.

Commercial Auto Coverage For Plastering Contractors

Contractors of all kinds have to drive frequently in order to get to their customers’ houses. This is why plastering contractor insurance should include commercial auto coverage. Otherwise, if you get into a car accident on the way to a customer’s house, you will have to pay for the damages out of pocket because your personal car insurance policy will not cover the collision. So when you have a commercial auto policy, you can have some peace of mind while driving for your business, and the same goes for any employees you have.

Workers Comp Insurance For Plastering Contractors

Whether you have a few employees or several, you need to make sure workers comp is part of your plastering contractor insurance policy. That’s because this coverage makes sure their medical costs are paid for if they get hurt on the job. After all, when you work with tools, it’s not uncommon to injure yourself once in a while. Since some injuries can render employees unable to work for days or even weeks, workers comp is especially important because it can even pay for lost wages. In addition, some injuries require rehabilitation, which is why workers comp pays for this expense so you and your employees do not have to.