Your finish carpentry business adds the perfect final touch to homes and buildings – from crown molding to custom cabinetry. But despite the precision and pride that goes into your work, a client injury or jobsite equipment theft could put your amazing company at risk. We believe in your business and want to you to have affordable insurance that meets state requirements and protects your property, team and income. This guide breaks down:
A Business Owner’s Policy for carpentry companies saves you money by bundling general liability, property insurance and optional business interruption coverage.
General liability insurance is often required by your contracts, and covers damages or injuries caused by your business as well as advertising-related claims.
Here are five essential coverages every carpentry contracting business like yours should consider to stay protected and profitable:
A Business Owner’s Policy (BOP) for finish carpentry contractors is a smart starting point. It bundles key coverages into one affordable package – ideal for new or growing businesses. Your BOP typically includes:
GENERAL LIABILITY FOR CARPENTRY CONTRACTORS Covers legal and medical costs if a client or other non-employee is injured or their property damaged by your business. It also protects you from advertising-related claims. Most states don't require you to carry general liability, but it's strongly recommended and often required by contracts. Examples of when you might need it:
CONTRACTOR PROPERTY INSURANCE Helps repair or replace the property you don't take to jobs if disaster strikes – like fire, theft, or vandalism. This includes:
BUSINESS INTERRUPTION INSURANCE Replaces lost income if you need to temporarily pause your business due to covered property damage.
Most states mandate workers’ compensation insurance for all businesses with employees. It covers medical expenses and lost wages for employees injured on the job – and protects you from most employee lawsuits. Examples:
If you use company-owned or personal vehicles to transport materials, tools or employees, most states require commercial auto insurance.
This helps contracting businesses like yours protect the valuable tools and equipment they bring to jobs. If yours are damaged or stolen while in transit or on a job site, this must-have coverage can repair or replace them. Examples:
Think of this as insurance for your insurance! A commercial umbrella insurance policy provides extra protection when other key policies like your general liability reach their limits, which helps you protect your company's financial assets.
Every business is unique. We’re fans of yours and here to help you protect it. Mylo has been innovating insurance for ten years and connected over 75,000 small business owners with 100,000+ policies. Because we don’t sell our own insurance, we can give you an objective recommendation and find you the best value in your state – at no cost to you.
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