Since insulation and acoustical contractors spend a lot of time working at elevated heights, there is certainly a significant risk for injury at the workplace. The chemicals used in this trade can be hazardous, so safety practices must be in place to protect workers and third parties. Since the materials used are packaged in large quantities, many times heavy lifting is also involved when moving the packaged material around the job site. Understanding the risks involved for insulation and acoustical contractors, Fairbanks Insurance Brokers offers a comprehensive package of insurance products to financially protect the business and the contractors.
A contractor’s general liability policy is always the starting point for building the comprehensive insurance package for insulation and acoustical contractors. This coverage provides for bodily injury liability, property damage, medical payments, and products/completed operations when necessary. The policy will also cover defense costs if an action is brought against your business.
Almost every state in the U.S. requires contractors to provide workers’ compensation coverage while operating in the state. This coverage provides financial protection if an employee is injured, misses work due to an injury at work or becomes ill resulting from work-related activities.
State licensing authorities will typically require the insulation and acoustical contractor to post a licensing bond that provides a financial guarantee for the licensing office and your customer if you fail to meet the terms of a project agreement.
When a contractor uses passenger vehicles or trucks for business purposes, the commercial auto policy provides the protection for your liability exposure and the risk of physical damage in the event of an accident.
Insulation and acoustical contractors use a variety of tools and equipment at the job site that should be covered by insurance in the event they are damaged or stolen from the job site, in transit, or in storage while not in use.