How much is Insurance for Independent Contractors

If you are an independent contractor, taking relevant insurance covers is very important for your business. This protects you from heavy losses that might occur due to various things. For example if you are woodwork independent contractor, you may need to take insurance policies that covers various woodwork tools like circular saw, table saw, jig saw and other tools that you cannot afford to lose. The good thing is that most of these insurance policies are not very expensive. In this article, we shall outline some of the best insurance policies for independent contractors and their cost.

General Liability

For independent contractors who work in the construction sector this is one of the important policies for such businesses. With this cover, you are guaranteed that risks that might occur in line of your duty are catered for. Since in most cases you will need to visit job sites and interact with clients, this cover will cater for any expenses that might occur.

It also covers physical injuries that might happen especially when handling various tools like the circular saw, miter saw, table saw or any other woodwork tool. Imagine what would happen when a customer falls accidentally on one of the tool and you do not have finances to cater for the medical bills. With this policy, you are sure that such risks are covered. If you have a small business, this policy goes for around $400 -$600 annually.

Commercial Property Insurance

Irrespective of the type of tasks you do, you will need different tools to do various tasks. For example, if you are an independent contractor who deals with woodwork projects, you will need various tools like the jigsaw, compound miter saw, band saw, circular saw, miter saw, table saw, sander and other different tools to do various woodwork projects. For sure, there tools are very expensive. Have you ever thought what would happen in case they get damaged or stolen? This is where the commercial property insurance comes in. This policy also caters for various disasters that may happen in your or up to 500 feet from your business like fire, storms, or any other.

Commercial property insurance cover goes for $400-$750 per year depending on the size of your business. The costs also depending with number of tools you have and their prices.

Liability Insurance

This policy depends on the level of risks in your business. For instance, if you are providing structural advice, you may need to pay higher rates than those who handle simple woodwork projects. It goes for $600 per year for those with a small business.

Cyber Liability Insurance Cover for Independent Contractors

If your customers pay via credit card, this policy ensures that your business is protected in case customer’s customer details are stolen. It goes for about 500 per year

Other Insurance Covers for Independent Contractors

Commercial Auto Insurance– If you own business vehicles, you should take to cover your business vehicles. It goes for about $1000 per year.
Hire and Non owned auto insurance – At times you may opt to hire a business vehicle instead of buying. In such a case, you will need to consider hire or non-owned auto insurance. Again, it is good for independent contractors who rent, hire or borrow vehicles for business purposes. This cover goes for about $100 per annum.

Commercial Umbrella Insurance– This is another important cover which caters for any claims that are higher than the existing and underlying policy limits. This insurance cover goes for $1000-$2500 per year.


If you are an independent contractor, those are the most important insurance covers you should take for your business. With these covers, you will always have a piece of mind that your business is covered against risks that might occur. Again, if you own various tools like the band saw, table saw and miter saw, commercial property insurance will be the most suitable because In case any of the tools is destroyed or stolen, you will get compensation from the insurance company.

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What Insurance Do Carpenters Need?


If you own a woodwork business, it is good to ensure that your business is covered by different insurance policies that are suitable for your business. In many workshops, you cannot miss expensive tools like the band saw, circular saw, sander or compound miter saw. These tools are very risky and are likely to cause accidents. This means that you need to get relevant covers that caters or medical bills in case accidents. They can also get lost or stolen, to ensure that you do not lose your customers when such incidents happen it is good to choose a suitable insurance cover. Below are other important insurance policies for carpenters.

Tool and Property Cover

Tool insurance cover is a must for everyone who owns a woodwork business. Imagine what would happen when your favorite tools like the circular saw, jigsaw, band saw, compound miter saw or any other tool get stolen or lost. This can lead to heavy losses since you will have to buy new ones. The problem is that you may not have the required finances to purchase all these tools. This is where a tool and property cover comes in. In case your tools get lost or this cover will ensure that you are compensated. They say prevention is always better than cure so it is always good to be prepared for such incidences.

Workers Compensation Policy

Whether you have a small or big woodwork business, this insurance policy is a must. In case any of your employees makes a compensation successfully, this policy caters for those expenses. This also means that incase any of your employees get injured by any of the tools like the circular saw within the business premise, this policy will pay for their treatment. Again, it caters for medical bills if any of your workers get sick when working.

Public Liability Insurance

This is another insurance cover that assists woodworkers to cater for expenses that occurs due to injuries that occurs within the premises. Accidents are very likely to happen in workshops. This is because most of the tools like the circular saw, table saw and jigsaw are very dangerous especially when you mishandle them. It also covers you against any damages. This means if your customers’ products get damaged, this cover will pay for the damages.

Professional Indemnity Insurance

If you own a woodwork business, you will agree with me that customers will not always be happy about your products. Some may file lawsuits when they are not satisfied, Sometime the cost of legal proceedings can be very high. This is where the Professional Indemnity Policy Covers comes in because it covers for those expenses.

Commercial Motor Insurance

Taking an insurance cover for your car is a great thing especially if you are using it to deliver furniture and other woodwork products to your customers. Again, if you are using it to transport heavy tools like the band saw and miter saw to different areas, this policy will cater for any damages or losses that result from car accidents.

 Personal Insurance Cover

If you are a self-employed woodworker, this insurance policy is very important. If you frequently use tools like a circular saw, table saw or any other tool with sharp blades, you are likely to cut yourself accidentally. Sometimes you may not be able to continue working after injuries. However, a personal insurance cover provides you with a reliable income either a lump sum or weekly payments before you resume your work.


Before taking any insurance cover for your woodwork business, you should ensure that you have read and understood the terms. If possible, you can talk to an insurance broker to get some tips. These brokers are very helpful and will be able to advice you on what you need.


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What is the Cost of Business Insurance for Carpenters?

What is the Cost of Business Insurance for Carpenters?

If you own a woodworking business, one of the most important things you should do is to insure your business. This will prevent you from incurring heavy losses when unavoidable circumstances occur. Imagine waking up one morning only to find that all your important tools like the band saws, Japanese saw, power drill, jigsaw, compound miter saw and other tools have been stolen. And if you’re a carpenter, that’s about every minute of your day. And risk like that needs the right protection. In this article, we shall explain the different types of insurance covers that are suitable for woodworkers and their prices.

General Liability Insurance- Interior Carpentry

In most woodworking workshops, you will find that they have a lot of furniture which are intended for sale or display. However, anything can happen and they may fall down and get destroyed. This can be very frustrating right? The good news is that you can take the General Liability Insurance to cover for such expenses.  With this policy, you are assured that various carpentry risks are catered for including legal proceedings. This policy normally goes for $361 -$1,089.

Per Claim Limit                                 $1,000,000

Median Policy Premium                  $361 -$1,089

Policy Claim                                                   $2,000,000

General Liability Insurance – Ideal for carpenters and service group

This one caters for basic woodwork services including legal expenses which occurs when third parties or customers sue the business for various reasons like property damage or injuries that might be caused by various tools like the circular saw, table saw or other tools within the business premises. This cover goes for $380-$1200,

General Liability for Finish and Trim Carpentry

General Insurance policy covers various issues that are raised by your customers. For example, they might get injured within your workshop by tools like the table saw, circular saw, band saw or a miter saw. These tools are very dangerous and if you allow your customers inside your workshop, accidents are likely to happen especially if these customers do not observe safety precautions. With this policy, you won’t need to worry because it covers lawsuits and any other losses that might occur due to injuries.

Another thing is that the GC might not be happy with your work on your installation might not meet the required specifications. Apart from that, General Liability for Finish and Trim cover you from third party court proceedings. This policy costs $380-$920.

Per claim limit                                  $1,000,000

Median policy premium                $380-$920

Median policy deductible              $1,000

Cost of surety bond / Permit Bond

When building, you will need to apply for a building permit or a license and permit bond. The reason why you will require these bonds as a carpenter is that they act as a guarantee. You will have to agree to abide by the rules of the state concerning any building or construction work. In case you do not have the license, the insurance company should pay the bond amount to the government. The permit and license bond usually cost $100.


Those are the major insurance cover for woodworkers. However,  the prices might vary from one company to the other. Don’t forget to insure you’re your expensive tools like the miter saw, circular saw, table saw, band saws and any other tool available in your workshop.

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Insurance for Woodworkers

Insurance for Woodworkers

Woodworking businesses are among the most profitable enterprises today. Whether you have a workshop or you prefer to work from your home, there is no doubt that you will need to invest heavily on different machines, materials, tools and workmanship if you want to succeed.

However, think about what would happen when a crisis occurs and most of your tools like table saws, band saws, sabre saw, sander, bench grinder power drills and others are destroyed.  Starting all over again can be very costly. The good thing is that this is something you can prevent by simply taking an insurance cover for your woodwork business. In this article, we shall outline some of the best insurance covers for woodwork businesses.

General Liability Insurance – This one is a very comprehensive cover which is suitable for small businesses. General Liability Insurance covers you from loses that might occur due to unavoidable circumstances such as natural calamities. It also covers your customers from accidents they might encounter within your business premises. Again, it helps you in case you would like to expand your business in future.

Compensation of workers- Most of the woodworking tools like circular saws, nail guns, table saws and jigsaws can be very dangerous. If you have employees in your business, it is good to insure them with workers comp insurance policy. This one is mandatory requirement you will find in every state. Workers comp insurance covers all the expenses incurred in case any of your workers get injured by any of those tools in line of duty.

Commercial Auto Insurance – For those who drive frequently for various business activities like workshops, events and seminars, commercial auto insurance cover will be suitable for you. This policy covers all the costs of repairing or replacing your car. Again, it caters for medical bills those results from accidents.

Business Owners Policy -BOP

BOP provides various types of insurance covers for those who own woodwork businesses. The good thing about this covers that you can easily choose the one that suits your business. Below are some of the areas this insurance cover can help you.

  1. Machine breakdown – If you own a woodwork workshop, you will agree with me that most of the most important tools like band saws, power drills, table saws, compound miter saws are a bit expensive. This means that in case they break, you are likely to incur a lot of costs to replace them. However, you can insure them with Business Owner Policy so that in case they break down, you will be compensated and you will be ready to resume with your projects as soon as possible.
  1. Newly Constructed or Acquired Buildings – Once your woodwork business starts to grow, you may need to purchase or construct a new building.  Shrewd business owners understands this and they usually look a cover that will help buy or build a new building when that time comes since it can be very expensive.
  1. Buildings – Natural calamities like earthquakes, storms cannot be avoided.  When they happen, they usually cause heavy losses which included destructions of buildings. The good thing is that if you are business is located in areas where such loses are likely to occur, you need to take a BOP insurance cover.
  1. Electronic Data– Due to technological advancements, many people who own woodworking business prefer to store data electronically because it is easier and more convenient. However, it is very risky because computes can easily lose all the data due to computer viruses or computer breakdown. What you need to know is that recovering that data is not easy at all.  A BOP can save you at such times if you have insured your electronic data.
  • Business Income and Expenses–   When natural disaster happen, you may be forced to stop working for some time. This means that you will lose a lot of income within this period. A BOP insurance cover will cater for the losses incurred during this time.
  • Valuable Papers Protection – Do you have very important documents for your business like certificates, business records and other records you would never wish to lose? Valuable Papers Protection Policy is a nice cover.


Whether you have a small woodwork business or a large one, an insurance cover is among the most important thing you must always have. The good thing is that these insurance policies varies according to the demand so of every business. Therefore, you have to determine the one that suits you best. You also need to ensure that all the tools in your workshop like the circular saw, miter saw, table saw, band saw, jigsaw among others are insured even against theft and other relevant insurance policies.

Those that we have outlined above are the most popular insurance covers for woodwork businesses. Remember that you also need to take the cover from a reputable and reliable insurance company. Make sure you have understood the terms before you take the cover.


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Why you should Insure Yourself before using Dangerous Power tools

Insure Yourself before using  Dangerous Power tools
STIHL Chainsaw

Whether you own a workshop or you just love DIY projects, there is no doubt that you will require various tools to perform different tasks. Even if these tools make the work easier, sometimes they can be very dangerous and can cause serious accidents. Some of these injuries may even lead to death. However, if you use these tools frequently, you can insure yourself form the accidents that might occur. Doing this will give you a guarantee that in case accidents happen, the insurance company will cater for your medical bills. Nonetheless, you need to go through the insurance policies to know which one is the best for which tool.  Below are some of the most dangerous tools.

Table Saw

If you own a table saw, you are aware that these tools can be very dangerous and are likely to cause accidental cuts. According to the Consumer Product Safety Commission- CPSC in the United States, the reported cases of injuries in year 2003 caused by table saws were almost 40, 000. Some resulted due to direct contact with the blade while others were caused by kickbacks which usually occur when cutting wood. The injuries caused by these tools not only causes emotional and physical pain but they also lead to high medical bills. If you are not insured some of these bills may be very difficult to pay.

Safety measures

  • Anytime you are using a table saw, you must ensure that your eyes are well protected. The best way to do this is use of safety goggles or glass. You can also use a facemask.
  • Height of the blade – Always ensure that the blade is not set to high because you can accidentally slip when cutting. You should never set it higher than 6 millimeters above the stock.
  • Stand in the right place- The projectiles that fly from the machine usually do so in line with the blade. This means that you are not supposed to stand directly in line with the tool’s blade.

Chain saws

Just like any other tool, chainsaws can be very dangerous. If you have never used a chainsaw before to trim around your home, accidental cuts are likely to occur. This means that you have to ensure that you fully understand how it operates before using it. Their performance is usually determined in terms of horsepower. Since they use a spinning blade, you need to ensure that you hands do not get near the blade. A study by the CPSC found that in 1999, there were over 28,500 reported chain-saw injuries in the U.S.

Safety tips

  • One of the best ways to prevent injuries when using a chainsaw is by ensuring that you are very stable when cutting. This means that you need to invest in quality shoes that will give you the required stability.
  • Again, you can look for chainsaw chaps. The good thing about them is that they are resistant to cut. They also help to minimize impact in case unexpected thing happen.
  • Another great method is ensuring that your eyes are covered. Apart from that, you need to ensure that your ears are also protected by use of earplugs. If you use a chainsaw a lot, an insurance cover will give you a piece of mind that in case something happens you will get compensated.

Circular saw

Circular saws are among the most abused tools especially by those who do DIY projects. Even if they are easy to use, sometimes they can be very unsafe. Most of the accidents caused by circular saws usually results from kickbacks. They also have circular blades which rotates at a high speed. This means that if you mishandle them, you are likely to cause serious injuries.

Safety tips

  • Before you start using it, ensure that you already know how it works. If you are a beginner, you should go through the use manual to learn every detail you need to know about it.
  • Always ensure that the blades are very sharp and free from pitch. Dull blades can result to kickbacks. Whether you are using it in your home or workshop, getting a suitable insurance cover is a great way to ensure that you can get compensated in case accidents occurs.

Nail Guns

Nails guns are usually preferred because they do the job faster than when you are using a hammer. Since they are very powerful, it also means that they are equally dangerous. Most nail guns are able to drive a 3 inches nail over 1000 miles in an hour pr 15 feet per second. What you need to know is that these tools are so dangerous and they can even break bones. If you normally use nail guns, you must make sure that you have a reliable insurance cover because sometimes it may not be easy to prevent accidents. A recent study by the Centers for Disease Control and Prevention shows that nail gun injuries have nearly doubled since 2001

Safety measures

  • To ensure that these guns do not shoot nails accidentally, most of the manufacturers include a sliding safety tip on their nail guns. This means that you will require pushing the safety tip down before pulling the trigger.
  • Keep your fingers away from the trigger. Otherwise, you may accidentally shoot a nail on your foot or that of a colleague.  Again, ensure that there is nobody near the nail’s path. You should also put your fingers at least 12 away from the nailing point.


Ladders are among the most common tools you cannot miss in many homes. They are very easy to use and at the same time are very dangerous. One of the major causes of ladder accidents is using the wrong type of ladder or a damaged ladder. Below are the safety measures you can take.

Safety tips

  • Always check the weight capacity of the ladder to ensure that it can comfortably support your weight. You also need to consider the height so that you can choose a suitable ladder that matches the task.
  • The other thing is that you should always ensure that it is very firm and stable on the ground.
  • You should never try to change the default measurements of the ladder. That means that you should never try to change the height or change the materials.


Those are among the most dangerous tools that are likely to cause serious injuries when using them. However, taking an insurance cover that protects you from the accidents caused by those tools is a fantastic idea because you will not need to worry about high medical bills. Nonetheless, these accidents can easily be prevented if you take safety measures anytime you are using the tool.

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