What Insurance Do Carpenters Need?

carpenter

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.

Conclusion

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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