Sheet metal workers, like all professionals in the construction industry, should have insurance for themselves. There are many risks that come along with the job and all contracting businesses should be prepared in the event of an accident. If you’re a sheet metal contractor or own a sheet metal contractor business, here are five reasons why you need sheet metal workers insurance.
First, you may find it difficult to secure work without adequate insurance coverage. Many general contractors will only hire sheet metal contractors who have sheet metal insurance. General contractors do this because it helps protect them — if there is a suit related to the sheet metal work, the sheet metal insurance will likely cover it so the general contractor’s policy doesn’t have to.
Even if you are able to find some jobs that don’t require you to carry sheet metal insurance, not having coverage may limit your choice in work. Some jobs for sheet metal work contractors will probably still carry this requirement, and they might be the more lucrative ones.
Second, working as a contractor inherently exposes you to potential lawsuits. Should you make a mistake that results in someone else being injured or having their property damaged, you could be held financially responsible for the incident. The affected party may sue you, seeking compensation for their medical costs, pain and suffering, lost wages or damaged items.
If you ever face a covered suit, sheet metal workers insurance will likely help pay any settlements or judgments that arise from the incident. Additionally, a policy will also usually help cover any legal fees incurred on account of the incident, and it’ll do so regardless of whether you’re deemed to be at fault.
Third, you yourself could be injured while working. The Bureau of Labor Statistics estimates that there are 134,450 sheet metal workers throughout the country. Of those, the U.S. Sheet Metal Workers’ data shows that around 3,000 to 4,500 workers are injured in any given year. These injuries result in an average of 10 days not working. Thus, in any given year 2.2 to 3.3 percent of the workers in this industry are injured. Even if you’re careful, there’s a chance that you might be part of this statistic one year.
If you are injured on the job, you’ll want to have workers compensation coverage. This form of insurance provides compensation for medical bills and lost wages that arise from work-related injuries and illnesses — which health insurance sometimes doesn’t cover.
Fourth, sheet metal work requires specialized tools, and these tools are frequently left out in the open where they can be stolen. Of course, stolen tools are not cheaply replaced.
A sheet metal workers insurance policy that includes property coverage for your tools will usually help replace them if the tools are stolen. Depending on a policy’s coverage, you may receive the full cost of new tools or the depreciated value of your stolen tools.
Finally, any business vehicle you have likely must be insured. In most states, all drivers must carry at least the state’s minimum level of auto insurance on their vehicles regardless of whether they’re personal or commercial vehicles.
Driving a commercial vehicle without at least the minimum required level of auto insurance is illegal, and it could leave you susceptible to fines, lawsuits, and other potential consequences.
In summary, there are several good reasons to get sheet metal workers insurance:
For help getting sheet metal workers insurance, contact us at Zuma Insurance. We’ve helped many professionals in the industry, and we’re here to help you get the coverage you need too.