Elements of a good insurance policy for carpenters
Whether working as an individual carpenter or with several employees, you definitely need a good insurance policy. Here are the elements to look out for when choosing carpenters insurance:
Comprehensive cover
A comprehensive cover is an insurance policy that protects your carpentry business from all possible risks. You can identify a single policy that covers key risks or you negotiate for a customised policy that suits your specific business needs. Consulting an insurance provider helps in identifying potential risks and designing an insurance policy that keeps your carpentry business safe.
Affordable
The assumption that insurance policy covers are expensive keeps many carpenters from insuring their businesses. There are affordable insurance policies for carpenters out there designed to protect your business income when tragedy strikes. Access to comprehensive yet affordable insurance policies has been made easier by the internet market. You can search online for a provider offering the best covers that suit your business needs at the lowest rates in the market.
Flexible premiums
When applying for the insurance policy for carpenters, it is important to check on the premiums. In order to keep your business safe, you need to keep track of premium payments. Go for a provider with flexible premiums that give you adequate time to make payment without hassle depending on the flow of your income.
Carpenters insurance options
Carpenters insurance will not prevent the risks from happening but shields your carpentry business from financial impact brought about by the risks. Here are the policy covers available for you:
Public liability insurance
When running a carpentry business, you will always have customers and suppliers walking about within your business premises. Timber, electric cables, air hoses, saw horses and other sharp tools can cause injuries to customers and suppliers despite the security measures you put in place. This is why you need a public liability insurance policy to cover incurred medical, legal and compensation fees.
Workers compensation
Do you have several employees in your carpentry business? If yes, you definitely need this insurance policy. Employees are prone to cut wounds, burns, fractures and other injuries as they work with sharp objects, electricity and finishing materials that may lead to allergy. This policy covers legal and medical fee while providing compensation if need be.
Sickness and accident policy
When operating as an individual carpenter, sickness and debilitating accidents simply mean no income. This is unfortunate especially if you have dependants. This policy protects your income in case of sickness and accidents.
Tools and equipment cover
In order to make a decent income flow, you need well functioning and readily available carpentry tools and equipment. Loss and damage of tools can easily knock you out of the carpentry business. Protect your tools by applying for carpenters insurance now.
