Drywall contractors often work for general contractors as drywall specialists. They are responsible for choosing, installing, removing and repairing different types of drywall. Many contractors also help install or repair sheetrock and plasterboard or wallboard in homes and businesses. Drywall is the material that covers the plumbing, wiring and studs of walls after a building frame has been put up. Drywall contractors remain busy and productive, but should also be aware of their risks. As with all labor jobs, drywall contractor risks include injuries to employees and property damage. These risks are covered by drywall contractor business insurance. Drywall contractors also may use sub-contractors on various jobs. If sub-contractors are used, most insurance carriers will require that the sub-contractors carry their own liability insurance with limits equal to the main contractor.
Types of Drywall Contractor Business Insurance
There are many different types of drywall contractor insurance policies, including drywall work comp. Here are the most important to be aware of.
Drywall Contractor General Liability Insurance
General liability for drywall contractors includes three areas of coverage: premises liability, products liability and completed operations. For illustration purposes, if a client visits your office and they trip over a power tool sat next to the door, their injuries are covered by premises liability. Completed operations, on the other hand, covers any damages caused by your completed drywall work, after the work has already been done.
Drywall Contractor Commercial Auto Insurance
Commercial auto insurance is essential for your business since you often use your own vehicle for business operations. Every time you pick up materials or visit a job to work on the drywall, you are at risk for a vehicle accident or even theft of materials in your work truck. These are covered by the business auto insurance policy.
Drywall Contractor Business Owner’s Property (BOP)
A business owner’s property policy, also called a BOP, is a type of business insurance policy that lets you customize exactly what is covered. With this policy, you can choose your most significant risks and include them in the package policy. Some options include general liability, electronic data, business income, extra expense, buildings and contents, newly acquired buildings, and employee dishonesty.
Drywall Contractor Business Property Insurance
It is important when you own a drywall business to protect your own business property. Unexpected events like fires and extreme weather can cause damage to your property and contents. With business property insurance as an essential component of your drywall contractor business insurance, you have a way to make repairs and replace what was ruined, allowing you to get back to work faster.
Drywall Contractor Cyber Liability Insurance
If you operate a website to advertise your drywall contracting services, make sure to have cyber liability insurance. This covers any cyber crimes not covered under a traditional crime insurance policy. If a new client visits your website to get more information, they could be a victim of a virus that infects their computer. Any resulting damage is covered by cyber liability.
Drywall Work Comp
One of the most important policies to have is workers’ compensation. Your employees are dealing with heavy drywall, dangerously high stepladders and power tools or cutting tools that could easily cause an injury. With workers’ compensation, any work-related injuries will be covered by the policy, including medical and recovery costs.
Employee Dishonesty Insurance
It isn’t just others outside your small business that commit a crime; your employees might also steal from your company. Any employees that embezzle money, use company gas cards to buy personal items at gas stations or even steal materials and tool can cause considerable loss for your business. Fortunately, you can get employee dishonesty insurance coverage.