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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