Carpenters make investments in their businesses, and both the invested resources and their businesses should be protected. Carpenter insurance offers Massachusetts carpentry businesses protection from a variety of covered perils.
Carpenter insurance is a kind of commercial insurance that’s tailored to the particular risk mitigation needs of carpentry businesses. These policies normally come with multiple coverages in them that work together to provide a web of protection, and businesses can often adjust the exact coverages in their package policy to suit their situation.
In broad terms, the vast majority of carpentry businesses and professional carpenters in Massachusetts should consider whether carpenters insurance is right for them. The following are merely a few examples of businesses and professionals that might benefit from the insurance:
Not only does carpenters insurance provide potentially valuable coverage for these businesses and professionals, but some customers may only hire businesses that are insured. Thus, any carpentry business that forgoes coverage could lose out on jobs (not to mention be dangerously exposed to perils).
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.
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:
Some of the liability coverages that a policy could offer are:
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).
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.
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.