Everything You Need to Know About Insurance for Drywall Contractors

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Everything You Need to Know About Insurance for Drywall Contractors

By Zuma Insurance Services | November 21, 2017

Everything You Need to Know About Insurance for Drywall Contractors

Do drywall contractors need insurance? If you work as a drywall contractor, having the right type of business insurance is essential to protect yourself from expensive claims and other losses. However, with so many different types of business insurance available, it can be difficult for drywall contractors to know what to buy. Below is some basic information about drywall contractors insurance to help you make sure you have the protection you need.

Why Is Insurance Important?

As a drywall contractor, you face a number of different risks that may lead to financial loss. While on the job, you may accidentally damage property or cause injury to another person, leading to costly lawsuits. Your own equipment or other property may also become damaged while you are working, resulting in a monetary loss. In addition, if you use a vehicle for business purposes, you may cause an accident or be involved in an accident caused by another motorist who doesn’t have insurance. Other risks occur when you have employees who may be injured or own commercial property that may be damaged or destroyed. To protect against all of these risks, you need to purchase the proper business insurance coverage.

Everything You Need to Know About Insurance for Drywall Contractors

What Types of Insurance Do You Need?

When working as a drywall contractor, you may need any or all of the following types of business insurance:

  • Commercial liability insurance – Commercial liability insurance is one of the most important types of insurance general contractors need to purchase. This type of insurance pays for your defense and covers any resulting damages when someone accuses you of causing property damage or bodily injury.
  • Commercial auto insurance – If you or an employee hauls equipment or product in a vehicle or uses a vehicle for work-related transportation, you need to protect that vehicle with a commercial auto insurance policy. This policy will cover any injuries or property damage you or an employee causes in the course of your work. Depending on the type of policy, it may also provide protection for your vehicle.
  • Commercial property insurance – If you own commercial property, you must purchase commercial property insurance to protect the property in the event of a disaster, such as a fire or a storm. You may need this type of insurance coverage even if you operate your business out of a detached garage next to your home.
  • Workers compensation insurance – If you have employees, state law requires you to purchase workers compensation insurance to protect them and your company. Workers compensation insurance pays for medical care and lost wages in situations where employees become injured or ill because of their employment.

Purchasing Insurance Coverage

Deciding which drywall insurance policies to purchase can be difficult and confusing. Fortunately, you can make sure you have the coverage you need by consulting an experienced insurance agent. The right insurance agent will be able to review your business, determine what types of coverage you need and help you select the policies that meet your needs and are as cost-effective as possible.

Everything You Need to Know About Insurance for Drywall Contractors

Key Takeaways

  • As a drywall contractor, you face many different risks that could lead to expensive claims against you or your company, as well as other types of financial loss.
  • Purchasing business insurance for drywallers is the best way to protect yourself from loss.
  • An experienced insurance agent can help you review your needs and determine which policies are best for you.

If you are a drywall contractor in need of a new drywallers insurance policy, or if you would like to review your existing coverage, or if your wondering what type of business insurance you need, the insurance agents at Zuma can help. Please contact us today to get started.