One of the most important things that you need to know about running a carpenter business is about the risks that come along with it and the insurance that you’ll need to cover these risks. Find out more about carpenter’s insurance below.
Why Do You Need It?
When you work as a carpenter, you might find that you enter other people’s homes or have customers enter your own premises. Either way, you need to make sure that you are protected against any sort of accident that might take place including the customer getting injured as a result of your actions or even the loss of your property. While there is general business insurance that you can get, it is advisable to get some affordable carpenter insurance that can be more specific to the type of work that you’ll be doing.
What Does It Cover?
Carpenter insurance comes in many different forms depending on the type of work that you do and the package that you choose. You’ll find that all types of cover include public liability insurance which you’ll need to operate your business. This type of insurance will cover you should a customer make a claim against you for an injury or damage to their property. This is very important as these sort of accidents can easily happen when you are working on a job and you could easily cause damage when installing your work.
When choosing your carpenter insurance, you can also choose to include employer’s liability insurance. It is required by law to have this if you have any employees as it will cover you should they make a claim against you. Some insurance companies will offer this as part of their package.
If you choose to include professional indemnity insurance in your package, you’ll find that any sort of defective designs or work that you’ve done is covered. This is really important for carpenters who do a lot of installing or designing and want to make sure that they are protected.
The final thing you might find that your carpenter’s insurance will cover is your property. This includes any tools that you need to do your job and the building that you use to work in. You can also include cover for any accidental damage that you personally do to this property.
What Does It Not Cover?
When choosing your carpenter insurance, it is really important that you add on any extras that you think you might need. Most insurance companies won’t offer all of these extras that we have mentioned so you might need to pay a little extra to be covered. Your carpenter insurance also won’t cover the van that you use to transport your tools and materials from job to job. You will need to check with your vehicle insurer if they can add this to your existing insurance.
Make sure to get the best possible carpenter’s insurance for your business to ensure you are covered should something go wrong.