Framing contractors are an essential part of the construction industry, responsible for building the structure of a building. However, this type of work comes with its own set of risks and exposures, making it crucial for framing contractors to have the necessary insurance coverage. Keep on reading to learn more about it!
Who Needs Framing Contractor Insurance?
Framing contractors are responsible for constructing the skeleton or frame of a building. This work involves working with heavy machinery, sharp tools, and sometimes working at heights. As such, it’s essential that framing contractors have insurance coverage to protect themselves and their businesses in case of accidents or incidents on the job site, as well as any other unfavorable events.
Types of Insurance Needed by Framing Contractors
There are several types of insurance coverage that framing contractors may need to consider. These include:
- General Liability Insurance: This type of insurance covers bodily injury and property damage that may occur while on the job site. For example, if a worker falls off a scaffold and injures themselves, general liability insurance would cover their medical expenses and any legal fees associated with the incident.
- Workers’ Compensation Insurance: This type of insurance is required by law in most states and provides coverage for medical expenses, lost wages, and rehabilitation for employees who are injured on the job.
- Commercial Auto Insurance: If framing contractors use vehicles for work purposes, they’ll need commercial auto insurance. This type of insurance covers accidents involving company vehicles.
- Builder’s Risk Insurance: This type of insurance covers damages to a building while it’s under construction. For framing contractors, this is crucial as they’re responsible for the structure of the building.
How Much Does Framing Contractor Insurance Cost?
The cost of framing contractor insurance can vary depending on several factors, including the size of the business, location, and the types of coverage needed. To find the most affordable yet beneficial offer, you need to do a lot of research.
However, you can handle it over to our professional agents instead and make sure you get the best results with minimum effort on your side.
Framing Contractors Risks & Exposures
Framing contractors face several risks and exposures on the job site. These include:
- Injuries from falls or being struck by falling objects
- Exposure to hazardous materials
- Accidents involving equipment or machinery
- Injuries from repetitive motion or overexertion
- Damage to property or structures under construction
Commercial Insurance And Business Industry Classification
- SIC CODE: 1751 Carpentry Work, 1521 Single-Family Housing Construction
- NAICS CODE: 238130 Framing Contractors
- Suggested Workers Compensation Code(s): 5645 Carpentry – Construction of Residential Dwellings Not Exceeding Three Stories in Height, 5437 Carpentry – Installation of Cabinet Work or Interior Trim, 5403 Carpentry – NOC
Framing Contractor Insurance – The Bottom Line
In conclusion, framing contractors need insurance coverage to protect themselves and their businesses from the risks and exposures they face on the job site.
General liability, workers’ compensation, commercial auto, and builder’s risk insurance are all important types of coverage for framing contractors to consider. While the cost of insurance can vary, it’s essential to have the necessary coverage to protect your business and employees from potential accidents or incidents.
Contact General Liability Insure to get the comparison of the best policies for your business as soon as possible!