Insurance For a Plastering Contractor
Purchasing insurance for a plastering contractor is a must for the professional. You need to be covered in case of accidents, even though the job involves a lot of driving. Commercial auto coverage is essential as your personal car insurance policy will not cover you in the event of an accident. Having this insurance gives you peace of mind while you’re on the road. Read on to learn more about how to buy insurance for a plastering contractor.
Insurance for plastering contractors is a necessity. This policy will cover you in the event of any lawsuits or liabilities that arise out of the work you do. You should also check the limits of indemnity, which determine how much the insurer will cover you for in the event of a loss or claim. A typical limit is around PS1m, though you can purchase higher limits as well. Listed below are the types of insurance coverage you should consider purchasing.
While plasterers don’t typically use specialist materials, they will have exposures to other areas of the construction industry. A plastering contractor should purchase workers compensation coverage, as it covers many injuries that are excluded from health insurance. Insurance for plastering contractors is best purchased through an independent insurance agent like Paul T. Murphy Insurance. You can request a quote from several companies and make a choice based on the cost of coverage. For more information, visit our website.
A general liability policy is also important. This type of insurance covers claims arising from third-party property damage, bodily injury, advertising injury, and many other situations. Plastering contractors work in a variety of properties, including businesses and homes. As such, there is always the risk of an accident resulting in damage to property or injuries. In such a scenario, general liability insurance can cover the costs of medical bills, legal fees, and other related expenses.
Plastering contractors may rent, lease, or borrow equipment in order to complete projects. These materials are vulnerable to moisture damage, vandalism, and theft. Other risks include transportation of materials and equipment, and claims from other contractors. Commercial auto insurance is also necessary for plastering contractors. These vehicles carry workers, materials, and equipment and can become the source of liability if something goes wrong. In case of a claim, insurance will cover the costs of repairs.
In addition to general liability insurance, plastering and stucco contractors need commercial auto insurance protection. A personal auto insurance policy will not cover damage to work vehicles, so a commercial auto policy is necessary. This coverage is especially important if the contractor owns more than one vehicle. If the contractors use their vehicles for work, commercial auto insurance may be the only option. This type of coverage helps protect the contractor from losing money if an accident occurs due to a business vehicle.
Homeowners’ insurance may not cover stucco-related issues. However, homeowners’ insurance can cover faulty work if the insured company pays out the claim. However, the insurance policy may not cover a plastering contractor who uses a substandard material or does not maintain the proper safety practices. If the stucco is installed incorrectly, homeowners may have to pay a lot more than they bargained for. That’s why homeowners should always check their insurance policy before hiring a plastering contractor.