Welders offer the marketplace a unique set of skills necessary for a variety of projects in a wide array of industries. The niche marketplace offers budding entrepreneurs the opportunity to work for themselves doing what they know best. Welding and fabrication insurance includes several different policies covering different liabilities and risks.
Standard Insurance Options
Commercial property insurance covers tools and equipment used on the job. The policies often replace or cover the actual value of destroyed or damaged property. A general liability policy is necessary to protect the owner and the company from lawsuits due to risks or hazards inherent to the job. The policies generally grow alongside the business. A business owners policy often includes general liability with additional add-ons specific to your business.
Additional Insurance Coverage
For those considering working with the government, having employees other than themselves or having a mobile welding business, some additional insurance policies may be required. Some additional policies to consider include:
- Surety Bonds for government and some private contracts
- Workers Compensation for employee injury or loss
- Commercial Automotive Insurance for mobile businesses
Whether your welding business is mobile or in a brick and mortar building having the right welding and fabrication insurance can protect the business and owner from financial loss. Insure your business for peace of mind.