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Insurance for Carpenters

Contractors Insurance is a premier insurance coverage provider based in Ontario. We offer personalized insurance bundles for professionals, including carpenters.

Carpentry work typically involves the cutting, shaping, and installation of wooden products. Similar to most professions, the job has its risks and liabilities for both business owners and their employees. Errors and accidents may happen on the job resulting in lawsuits and claims that can leave a significant financial dent in your company.

For this reason, you should consider investing in a coverage plan to protect your business from any potential risks. At Contractors Insurance, we specialize in providing efficient risk management strategies for contractors working in high-risk industries.

Our experts are available to assist you through every step of the way, from negotiating premiums to filing claims.

What Is Carpenters Insurance?

Carpenters’ insurance is a coverage plan for contractors in the carpentry business. It’s meant to protect the financial interests of business owners sued by third parties over losses, property damage, or injuries occurring on the job.

However, the type of coverage you get will depend on the type of carpentry jobs your company handles, the number of employees, and the type of risks your business is exposed to daily. Below are some of the recommended plans you should purchase.

Commercial General Liability Insurance

Commercial general liability insurance protects against third-party lawsuits filed against your company. Besides covering attorney, deposition, court litigation, and settlement costs, it also helps with medical and repair expenses resulting from:

  • Third-party injuries occurring on the business premises
  • Property damage and third-party injuries after completion of the project
  • Reputational injury suits involving libel, copyright infringement, and slander allegations
  • Third-party injuries and property damages occurring during the work

Commercial Auto Insurance

Regardless of whether you run a shop or travel to the client’s property following a service request, you should have commercial auto insurance coverage. Your plan may help protect you and your employees in case your company’s vehicle is involved in an accident. It can cover the medical and property damage expenses resulting from the crash and any legal costs that may arise thereafter.

Commercial Property Insurance

As a carpenter, you should also have a coverage plan to help protect your property and equipment. Commercial property insurance can be especially helpful for carpenters who operate from a shop. The coverage plan can protect you against expenses resulting from burglaries, natural disasters, or fire outbreaks. It may help compensate for lost income and physical damage to the shop.

Constructions Equipment Insurance

Construction equipment coverage is one of the must-have insurance plans for carpenters as it may help protect clients against costs associated with the loss, theft, or damage of tools and equipment. At Contractors Insurance, we specialize in delivering retrofitted equipment insurance bundles for clients in the trades and construction industry, including carpenters.

If tools rented, borrowed, or owned get stolen or damaged, your coverage plan may help cover the repair and replacement costs. If you rent out your carpentry equipment, the insurance may reimburse you for rental fees lost if the tools are damaged, misplaced, or stolen.

Workers’ Compensation

Your workers are important to your business, which is why you should consider investing in a coverage plan for their health and safety. A worker’s compensation insurance bundle can provide:

  • Coverage for ongoing medical expenses resulting from work-related injuries or illnesses
  • Compensation for lost wages during recovery
  • Coverage for funeral costs when necessary
  • Disability benefits

Why Is It Important to Have Insurance for Carpenters?

Although it may be rare, your contractors may forget to reinforce a structure or use the wrong type of materials, errors that may not sit well with your client. Insurance for carpenters can protect against lawsuits associated with bodily harm and property damage resulting from errors happening on and after the job.

Leading Provider of Insurance for Carpenters in Ontario

At Contractor Insurance, we focus on delivering customer-centric solutions for tradespeople, contractors, and professionals. If you sign up for our carpenters’ insurance plan, below are some of the benefits you stand to accrue.

Personalized Insurance Plans

We provide tailor-made insurance bundles designed to protect your business cost-effectively.

Utmost Transparency on Coverage and Limitations

After creating your carpenters’ insurance bundle, we will explain everything inside the contract. We’ll advise you on your plan’s exclusions and limits as well as how to trigger a claim.

Thorough and Straightforward Insurance Education

Our staff provides comprehensive insurance education to help make informed decisions. We offer the information required to assist with personalizing your plan based on the unique demands of your business.

Frequently Asked Questions About Carpenters Insurance

It is essential for a Canadian carpenter to have Carpenters Insurance. Without it, you are not doing yourself or your business any favours.

For a coverage limit of around $1 to $2 million, contractor liability insurance cost in Ontario is approximately $55 to $67 per month without additional coverages. It is possible to pay over $100 per month for higher coverage limits of around $5 million.

Contractors all-risk insurance is essential for all employers and contractors, and it can cover company-owned equipment, hired equipment, and employee tools.

Ready to Get the Coverage You Need?

If you’re ready to protect your carpentry business, Contractors Insurance is here to help. Contact us today for a quick quote.

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