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Contractors’ insurance protects against the financial risks present at all stages of business operations.
Flooring Contractors install, repair, and maintain floor surfaces in residential and commercial structures. These specialized tradesmen spend the majority of their time kneeling with sharp tools and transporting heavy material throughout the job site. Employee bodily injury and third-party property damage are clear and present risks that can leave a vulnerable business owner scrambling to avoid financial fallout in the event of an unforeseen incident.
Fairbanks Insurance Brokers recommends a formidable flooring contractor’s insurance package to hedge against unpredictable third-party action.
Floor installers’ general liability insurance provides financial protection should your business become liable for injury or damage to a third party.
Flooring contractors’ general liability coverage pays for defense expenses, settlement costs, and judgments awarded by the court.
Flooring contractors’ workers’ comp will protect your employees if they are injured or become ill from a job-related incident.
Floor installer workers’ compensation will also help pay for medical expenses, lost wages, and funeral expenses.
Since floor contractors face a significant risk of workplace injury, most city and state licensing boards require a floor-covering contractors’ workers’ comp policy with the minimum mandated limits.
Most states require floor covering businesses to hold a license and carry a flooring contractor’s surety bond before bidding and working on a project.
A floor-covering contractor bond guarantees your state’s licensing department and customers that you will complete the job according to your bid.
Floor installers’ commercial auto insurance will protect your business if you or an insured driver are found liable for an at-fault accident.
A flooring contractor’s commercial auto policy also provides coverage for the work vehicles damaged in an accident, stolen, or vandalized.
Also known as floor-covering contractors’ tool and equipment insurance, this crucial coverage will reimburse your business if your tools or equipment are damaged or stolen while at a job site, transported, or in storage.