Welding Contractor Insurance
Welding contractors work in various settings, such as home construction, automobile repairs or manufacturing, pipe installation, and even shipbuilding. Welding is one of the most demanding fields in all of the trades, hence the need for welding contractor insurance.
Contractors Insurance, one of Ontario’s most trusted commercial insurance brokerage firms, specializes in creating custom insurance policies for different contracting companies and independent contractors. We have a proven record of providing end-to-end support for welders, from negotiating premiums to filing insurance claims.
Concentrate on growing your business—we’ll handle the rest!
What Is Welding Liability Insurance?
Welding contractors play an important role on construction sites.
They ensure the foundations of a residence or commercial property are structurally sound and durable enough to stand the test of time. With that being said, they often work under circumstances that put them at significant risk of injury.
Fortunately, welding insurance covers these potential risks.
Aside from protecting against liability lawsuits, insurance for welders also covers the costs of potential damages incurred while on the job. This includes medical bills for third-party property damage and bodily injuries.
Welding liability insurance plans typically comprise commercial general liability insurance, equipment breakdown insurance, commercial auto liability insurance, as well as optional plans that cover buildings and physical assets.
Below are some of the recommended plans you should purchase.
Commercial General Liability Insurance
Welding contractors handle heavy equipment at work, often under intense climate conditions. Accidents are often inevitable on a job site.
Commercial general liability insurance protects you from third-party property damage or bodily injuries caused by a workplace accident. It also helps cover medical, repair, and legal expenses associated with:
- Injuries and damage occurring during or after the project;
- Injuries sustained within the welding contractor’s business premises;
Do note commercial general liability insurance may exclude part-time workers and only apply to full-time contractors.
Commercial Auto Liability Insurance
When you travel to and from a job site regularly, it’s a good idea to have commercial auto insurance. This type of liability insurance protects you and your employees from expenses in case your company-owned vehicle gets into an accident.
Commercial auto insurance also covers costs resulting from:
- The vandalism or theft of your commercial fleet;
- Property damage caused by your company’s vehicles;
- Bodily harm resulting from accidents involving your vehicles
Commercial Property Insurance
Welding contractors use specialized tools and personal protective equipment such as oxygen tanks, heat-resistant gloves, and welding helmets when doing their jobs. Damaged welding tools pose a safety and productivity risk.
Commercial property insurance covers costs caused by the loss or damage of business equipment arising from burglaries or natural disasters. It could also help compensate for lost income or necessary repairs to tools and equipment.
Equipment Breakdown Insurance
The equipment and machinery welders use is prone to breakdowns and damage. These tend to happen at the most inconvenient times, stalling productivity and pushing project deadlines back days or even weeks in some cases.
You should invest in equipment breakdown insurance to protect your welding business against financial losses resulting from equipment failure. It also covers the cost of fixing or replacing damaged or lost equipment.
Your equipment breakdown insurance policy may also cover rental fees lost under such circumstances if your business rents out welding equipment.
Pollution Liability Insurance
Pollution from a solid, liquid, gaseous, or chemical pollutant will expose you and your business to unpredictable risks.
This could also result in third-party injuries, damage to property, or medical emergencies. Pollution liability insurance will cover your business by helping pay for legal fees or cleanup costs as necessary.
Why Is It Important to Have Insurance for Welders?
Expenses resulting from lawsuits will impact the financial stability of your business. A welders insurance policy protects your business against significant financial losses, such as those incurred by accidents or causes out of your control.
Leading Provider of Welding Liability Insurance in Ontario
We at Contractors Insurance take pride in providing the best customer service to our clients. We’re an insurance provider who offers the following benefits:
Personalized Insurance Plans
We can customize your insurance coverage to fit the specific needs of your welding business. You’ll never have to worry about paying for unnecessary riders.
Utmost Transparency on Coverage and Limitations
We take a proactive approach to curating the details of your insurance coverage. We’ll walk you through everything you need to know, including what triggers liability claims, your limits, and any exclusions.
Thorough and Straightforward Insurance Education
Count on us for unbiased information and assistance at every step. We’ll provide the knowledge you need to read and understand your policy so you can make more informed decisions for your business.
Frequently Asked Questions About Welders Insurance
Most insurance policies only cover full-time contractors and usually exclude subcontractors. However, coverage extensions added to your existing policy may include subcontractors.
Those working as subcontractors should purchase liability insurance to protect themselves while working in various industries.
Yes. Purchasing business insurance can help you save thousands of dollars down the line, especially given the often unforeseen nature of accidents.
All welding contractors will benefit from this policy, regardless of whether they own a small company or a large business. The high-risk nature of the work necessitates comprehensive insurance coverage.
Ready to Get the Coverage You Need?
Contractors Insurance specializes in providing tailor-fit insurance plans for numerous clients in a wide variety of industries. Our dedicated team of professionals is here to assist you with anything you need to know about welding contractor insurance.
Call us today to get started with a free quote!