What types of insurance do contractors need?
If you working in the construction industry, a sheet metal insurance is necessary to safeguard you from the prevailing sheet metal risks at work. Aside from that, one may need to also avail the following:
General liability insurance – This will take care of the sheet metal risks, including an accident or an injury at your metal workshop. This is recommended for:
- Slip and fall accident claims
- Damaged property
- Lawsuits on libel and slander
Workers’ compensation insurance – Generally, in most U.S. states, having a workers’ compensation insurance is mandatory especially for sheet metal and construction businesses. This will cover for any medical expenses on work-related accidents. This is recommended for:
- Employees’ medical bills
- Wages for employees who are injured and unable to work
- Lawsuits on injury and bodily harm
Commercial auto insurance – This will cover for any injury or property damage brought about company vehicles. Also, this will aid in the repair of the company vehicles damaged by natural disasters, theft, and vandalism. This is recommended for:
- Bodily harm caused to another person
- Coverage for any collision and physical damage
- Car theft and/or vandalism
Contractor’s tools and equipment insurance – Lastly, this will shoulder for any repair or replacement of the tools, such as the sheet metal contractor’s welding equipment. If any tools are lost, stolen, or damaged, this will cover for the loss. This is recommended for:
- Small wielding tools
- Mobile tools and machineries
- Any equipment that is less than 5 years old
The cost for sheet metal contractors
The insurance costs are dependent on many factors, such as the services offered by your construction business, the location, the number of employees you have, and the list of tools you want to insure. To get a quote, please get in touch with our in-house insurance agents. At BizSmart Insurance, we make sure that the Sheet Metal Contractors Insurance we provide is best suited for your business. You may call us at 602 271 9171 right now!
SOURCE:
https://www.insureon.com/construction-contracting-business-insurance/sheet-metal
