Minnesota Carpenters Insurance
Carpenters Insurance – As a carpenter, you have worked hard to build your small contracting business. Carpentry is an art and whether you’re a finished carpenter, framer, or remodeler.
Carpenters’ liability insurance is something we do very well. We find the perfect general liability insurance for carpenters by shopping numerous insurance companies for you.
Contractors in Minnesota pay attention. We are here to save you money and give you the proper protection.
Carpenters, homebuilders, general contractors, paper contractors, remodeler’s framers, trim and finish work, all these trades can have accidents. If an employee improperly installs the flashing on a deck incorrectly, water can cause damages to the home, creating a hefty bill.
The property damage is something covered by your general liability insurance, and it’s essential to have proper contractor insurance in place to protect the future of your business.
Let us help you find carpenter liability insurance. Talk to one of our experienced agents now. Please call us at 952-469-0425 or click the Get My Quote button.
Our local Minnesota-based independent insurance agency, located in Lakeville, MN, specializes in contractors’ insurance. When you fill out our online quote form or call, that experienced agent will shop for you. You won’t get five agents calling you; you will work with one specific agent now and in the future.
Because we work with contractors like you every day, we know what you need and understand the language. Our agents also do certificates for The Department of Labor and Industry (DOLI) almost daily.
They know us down there, and we send the certificate of insurance to them directly at times. However, we feel it’s best to include the certificate we provide with your licensing application or renewal. Things can get lost; you are dealing with a government office.
Getting back to general contractors, they often tell you specifically or give you an example of their requirements. Send those requirements to us right away. We like to do the certificate correctly the first time as this gets you to get the contract and one the job faster.
General contractors have requirements for your general liability insurance, sometimes like a $1million limit of coverage, additional insured (ongoing), waiver of subrogation, primary non-contributory language, completed operations, per location, and per project.
It is often just a simple certificate, but please know they can ask for the extra bells and whistles. These extras can cost more, and we also see them asking for commercial auto insurance, workers’ compensation insurance, and commercial umbrella liability.
General Liability Insurance for Carpenters – Carpenter Liability Insurance
There are several different types of carpenter insurance, but general liability insurance is the core policy most businesses purchase. Covering bodily injury and property damage, it’s a crucial policy for your carpentry business.
Business Owners Policy (BOP) – Carpenters Insurance
Take a general liability insurance policy and mix in what many carpenters might need, like building coverage, business personal property, and business interruption insurance. Depending on your exact insurance needs, a business owner’s policy is often preferred.
Contact Us for Quote
We are ready to discuss your Minnesota carpenters insurance and your contracting company’s needs. Call 952-469-0425 or use our online form.
Request your carpenter liability insurance quote for your Minnesota carpentry business. Don’t delay, do yourself a favor, you will be happy you did!
Frequently Asked Questions About Minnesota Carpenter Insurance (FAQ)
Q- What insurance do I need for my carpentry business?
Ans:- General liability insurance, often called public liability insurance, is the first policy a carpenter would buy. The reason is that it is the most required insurance policy that helps protect you from lawsuits and claims regarding property damage and bodily injury to others.
The second policy is workers’ compensation. Many smaller carpentry businesses elect to reject coverage, but we see around 60-70% of our contractors buy a ghost or waiver policy.
This type of policy allows you to obtain a certificate to work but uses zero payrolls, so it does not cover the owner or employees. It can also provide a safety net if a subcontractor or you happened to have hired an employee and didn’t report it, as long as you paid the required premium for that payroll.
Q- How much is construction insurance in Minnesota?
Ans:- General liability insurance typically runs $68 to 83/mo, which is for a $1/$2 million coverage limit. Minnesota’s contractor liability insurance cost would increase from there if you needed tool and equipment coverage or additional policy endorsement/coverage. Commercial umbrella coverage for an extra $5 million might run $208/mo in addition.
Q- What insurance should the building contractor have?
Ans:- Several policies come to mind. Professional indemnity insurance or E& O insurance is invaluable to any contractor. Still, it is costly, and it can help you in the event of a client claiming you provided inadequate services or advice. E & O insurance or professional indemnity insurance will help cover the legal costs and expenses while defending the claim.
Q- What happens if my builder doesn’t have insurance?
Ans:- The builders having no insurance or proper insurance is a problem. Having a certificate of insurance sent directly from the agent, including a ten-day non-pay cancellation notification and thirty 30 day cancellation notification, can help. Without insurance and things went wrong, someone got hurt, or property damage, you could end up in court paying damages and legal fees.