Carpenters Insurance

Minnesota Carpenters Insurance

Carpenters Insurance—As a carpenter, you have worked hard to build your small contracting business. Carpentry is an art, whether you’re a finished carpenter, framer, or remodeler.

We specialize in carpenters’ liability insurance. We shop with numerous insurance companies to find the perfect general liability insurance for carpenters.

Contractors in Minnesota, pay attention. We are here to save you money and give you the proper protection.

Carpenters, homebuilders, general contractors, paper contractors, remodelers, framers, and those involved in trim and finish work can all experience accidents. If an employee improperly installs the flashing on a deck, water can cause damage to the home, resulting in a substantial repair bill.

Your general liability insurance covers property damage, and it’s essential to have proper contractor insurance in place to protect the future of your business.

Let us help you find carpenter liability insurance. Talk to one of our experienced agents now. Please call us at 952-222-8073 or click the Get My Quote button.

Our local Minnesota-based independent insurance agency, located in Lakeville, MN, specializes in contractors’ insurance. When you fill out our online quote form or call, that experienced agent will shop for you. You won’t get five agents calling you; you will work with one specific agent now and in the future.

Because we work with contractors like you daily, we understand your needs and speak your language. Our agents also do certificates for the Department of Labor and Industry (DOLI) almost daily.

They know us down there, and we sometimes send the certificate of insurance to them directly. However, including the certificate we provide with your licensing application or renewal is best. Things can get lost; you are dealing with a government office.

Regarding general contractors, they often specify their requirements or provide an example. Please send us those requirements as soon as possible. We want to complete the certificate correctly the first time, as this will help you secure the contract and the job more quickly.

General contractors have specific requirements for their general liability insurance, which may include a $1 million limit of coverage, additional insured (ongoing), waiver of subrogation, primary non-contributory language, completed operations coverage, and coverage per location and per project.

It is often just a simple certificate, but please know they can ask for the extra bells and whistles. These extras can be more expensive, and we also see them requesting commercial auto insurance, workers’ compensation insurance, and a commercial umbrella liability policy.

General Liability Insurance for Carpenters – Carpenter Liability Insurance

There are several types of carpenter insurance, but general liability insurance is the core policy for most businesses. Covering bodily injury and property damage is a crucial policy for your carpentry business.

Business Owners Policy (BOP) – Carpenters Insurance

Take a general liability insurance policy and add coverage that many carpenters might need, such as building coverage, business personal property, and business interruption insurance. Depending on your insurance needs, a business owner’s policy is often the preferred option.

Contact Us for a Quote

We are ready to discuss your Minnesota carpenters insurance and your contracting company’s needs. Call 952-222-8073 or use our online form.

Request a quote for carpenters insurance for your Minnesota carpentry business. Don’t delay—do yourself a favor, and you will be happy you did!

Frequently Asked Questions About Minnesota Carpenters Insurance (FAQ)

Q- What insurance do I need for my carpentry business?

Ans: General liability insurance, often referred to as public liability insurance, is typically the first policy a carpenter would purchase. The reason is that it is the most required insurance policy that helps protect you from lawsuits and claims regarding property damage and bodily injury to others.

The second policy is workers’ compensation. Many smaller carpentry businesses opt to reject coverage, but we see that around 60-70% of our contractors purchase a ghost or waiver policy.

This type of policy allows you to obtain a certificate to work but uses zero payroll, so it does not cover the owner or employees. It can also provide a safety net if a subcontractor or you happened to have hired an employee and didn’t report it, as long as you paid the required premium for that payroll.

Q- How much is construction insurance in Minnesota?

Answer: General liability insurance typically costs $68 to $ 83 per month for a $ 1 million/$2 million coverage limit. Minnesota’s contractor liability insurance cost would increase further if you needed tool and equipment coverage or additional policy endorsements or coverage. Commercial umbrella coverage for an additional $5 million might also cost $208 per month.

Q- What insurance should the building contractor have?

Ans:- Several policies come to mind. Professional indemnity insurance, also known as Errors and Omissions (E&O) insurance, is invaluable to any contractor. Still, it is costly, and it can help you if a client claims you provided inadequate services or advice. E&O (or professional indemnity) insurance helps cover the legal costs and expenses incurred while defending a claim.

Q- What happens if my builder doesn’t have insurance?

Ans: The builders’ lack of insurance or improper insurance is a problem. A certificate of insurance sent directly from the agent, including both a ten-day non-pay cancellation notification and a thirty-day cancellation notification, can be helpful. Without insurance, if things go wrong, someone gets hurt, or property is damaged, you could end up in court paying damages and legal fees.