Do Subcontracting Carpenters Need Their Own Carpenters Insurance?
Some general contractors who subcontract work to carpenters may extend insurance coverage to them, but not all do and those that do might only offer limited protection.
To make sure they’re properly insured, subcontracting carpenters should review their insurance situation with an insurance agent who specializes in carpenters policies before beginning any new job. A knowledgeable agent can review a general contractor’s policy and help determine whether another individual policy is needed.
What Coverages Are Available Through Carpenter Policies?
There are many coverages that carpenter policies might offer, and most of these can be segregated into property coverages or liability coverages.
Some of the property coverages that a policy could make available include:
- Commercial Building Coverage, which may protect an office or storage facility
- Commercial Personal Property Coverage, which may protect carpentry equipment and supplies at a main facility
- Inland Marine Coverage, which may protect equipment and supplies when they’re in transit between job sites
- Builders Risk Coverage, which may protect equipment and supplies when they’re at job sites
- Business Income Coverage, which may protect revenue if operations are halted after a disaster
Some of the liability coverages that a policy could offer are:
- Commercial General Liability Coverage, which might cover some accidents and defamation lawsuits
- Errors and Omissions Coverage, which might cover mistakes carpenters make that impact customers negatively
- Commercial Umbrella Coverage, which might cover lawsuits that exceed underlying liability coverages’ limits
In addition to these, carpentry businesses often also need commercial auto coverage. Traditional commercial auto coverage is usually used to insure company-owned vehicles, and hire and non-owned auto coverage is typically used to insure private vehicles that are driven for work (other than commuting to a main location).
How Much Are Carpenter Policies?
While carpenter policies vary in price, they tend to be affordable. Because there are so many variables that can impact premiums, the best way to find out how much coverage will cost a particular business is to compare policy options with and independent agent. An independent agent has the freedom to get quotes from several insurers, which makes looking at both coverages and premiums easy.
How Can Massachusetts Carpentry Businesses Get Carpenter Insurance?
For help finding carpenter insurance in Massachusetts, contact the independent insurance agents of Keefe Insurance. Our agents have the independence and expertise needed to help you find the best available carpenter policy.
