floor installers insurance

You have probably given blood and sweat to build your business. But you have to protect your business from inadvertent risks. What if any of your employees get injured while working at home or remote location? What if the synthetics used in your flooring business cause your clients to be sick? What if, while fixing the existing flooring, your contractor causes damage to a home or property?

The right type of insurance can secure flooring contractors against expensive lawsuits & legalities, which can push you to bankruptcy or cause you to shutter to the business. So, what’s the hack to get through this challenge?

Well, it is not easy to find the right type of coverage for your set-up. The general liability insurance policy is not capable of covering the risks. Instead, you need to choose a package of several policies that can protect the business from several problems that might arise in such type of business.

Commercial General Liability Policy

This cover provides financial protection to entrepreneurs if any clients suffer physical injuries. It helps provide financial stability if they cause property damage while on a job site.

Workers’ Compensation

Commercial general liability insurance is essential, but it does not provide complete protection required by flooring contractors. It only covers clients, guests, or visitors. It lacks coverage on an employee suffering from an injury while on work. Flooring contractors must invest in workers’ compensation as well. This coverage includes incurring legal or medical costs for employees who suffer during work.

For instance, if a worker inhales toxic sealant fume while installing a floor in a home or any property and needs medical attention, this coverage will assist you financially for the treatment.

Commercial Property Insurance

This type of coverage is crucial for flooring contractors who operate from shops. It helps to cover any damages to a shop or other facility owned by a contractor.

E.g., if the shop is destroyed in a fire, the contractor uses this cover to ascertain & claim the loss. With this insurance, the owner can handle all the expenses of replacing equipment and flooring materials destroyed along with the shop.

Commercial property insurance covers all or maximum costs of fixing a damaged or destroyed shop. It also helps to recover the costs of replacing damaged or even stolen materials from a shop or other business locations.

Being a flooring contractor, you might consider investing in inland marine insurance. This coverage protects any equipment or flooring materials that move from one location to another. This type of insurance is vital for contractors who might rely on expensive equipment. If these tools are damaged or destroyed during transit, this insurance will cover the cost of repairing this equipment or replacing it.

Flooring contractors can also invest in commercial auto insurance. It provides a pay out to contractors whose vehicles are damaged or destroyed while on duty. Vehicles are quite expensive. This policy can help business owners replace damaged or destroyed cars or trucks without burning a hole in the pocket.

Are you interested in floor installers insurance? Find a reliable insurance agent and get the right type of coverage that meets your business needs and requirements.