Decorative Metalwork Contractor Insurance

Decorative Metalwork Contractor Insurance 101

How to find the best local coverage

Welding of decorative metal components. Find decorative metalwork contractor insurance.

Decorative metalwork contractors specialize in custom fabricated metal work for residential, commercial, and industrial applications. Most decorative metalwork is made of steel or aluminum, but decorative metalwork contractors might also work with bronze, stainless steel, or other materials. 

Decorative metalwork contractors face a unique set of business risks. While you do everything you can to ensure the safety and proper construction of your decorative metalwork, sometimes the worst situations just can't be avoided.

You need a comprehensive business insurance program tailored for your needs. A local independent insurance agent can help you find the decorative metalwork contractor insurance that you need to best protect your livelihood.

Why Do You Need Decorative Metalwork Contractor Insurance?

Decorative metalwork contractors fabricate railings, staircases, estate fences, gates, balconies, trellises, and more using steel, aluminum, bronze, and other metals.

In the course of your work, you can cause damage to the buildings or properties that you’re working on, encounter serious worker injuries, and injure bystanders or other individuals on the job site.

You face a serious risk for lawsuits if you cause property damage or injuries on a job site or as a result of your work. And your valuable property (tools, equipment, parts, etc.) can be damaged, destroyed, or stolen from your warehouse or workshop, from job sites, or while they’re in transit.

You need decorative metalwork contractor insurance to protect everything that’s important.

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General Liability Insurance for Decorative Metalwork Contractors

Commercial general liability (CGL) insurance protects you from having to pay out of pocket for damage or legal fees if your services happen to cause damage to any of the homes or businesses that you work on. It offers broad protection for a wide variety of negligence claims and lawsuits.

It’s important to note that CGL policies include product liability insurance. This covers you if one of the products you install is harmful to a customer or anyone else who comes into contact with it. Product liability insurance covers your financial responsibility for losses or injuries to a user, buyer, or bystander caused by a defect or malfunction of your product.

CGL policies also usually include products-completed operations liability insurance that responds if you’re sued because something that you’ve constructed or installed causes injuries to others. Completed operations insurance covers your liability for property damage or injuries to a third party once contracted operations cease (e.g., injuries related to poor or faulty installation, collapse, etc.). Contractors and manufacturers typically purchase additional or separate policies in amounts that have higher limits than what is provided in the CGL policy.

What Other Types of Liability Coverage Do Decorative Metalwork Contractors Need?

Your decorative metalwork contractor insurance package may contain the following additional types of liability coverage:

  • Commercial auto insurance: Covers your owned vehicles and drivers if an accident or other vehicle damage occurs. It provides coverage for property damage and bodily injury liability claims, vehicle damage, and medical bills, as well as any costs related to lawsuits due to auto accidents involving your vehicles.
  • Cyber liability insurance: Provides coverage in the event of a data breach involving your business.
  • Commercial umbrella insurance: Provides supplemental liability protection beyond the limits of certain other liability policies. This policy can be invaluable for that once-in-a-lifetime judgment rendered against you.
  • Employment practices liability insurance: Covers you if an employee sues you for discriminatory employment practices.

An independent insurance agent can help you customize these policies to your needs.

What Kinds of Property Insurance Do Decorative Metalwork Contractors Need?

You are likely to have and use a lot of property, tools, and equipment that can be very expensive to replace. You will therefore want to be sure that your decorative metalwork contractor insurance program includes coverage for damage to and theft of your commercial property.

Commercial property insurance covers things that are on your business premises, such as items in your office space, warehouse, or shop. It helps you pay to repair or replace buildings and other items that are damaged by things like fire, weather, smoke, theft, and vandalism.

You’ll also need business interruption coverage as part of your property insurance, as well. It reimburses you for lost income and helps pay for certain ongoing expenses if you are temporarily unable to operate due to a covered loss (fire, storm, etc.).

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How Can You Protect Your Tools and Equipment at the Job Site?

In addition to protecting your buildings and their contents, you need to protect your tools and equipment while they’re at a job site. The following types of decorative metalwork contractor insurance cover these types of losses:

  • Inland marine insurance: Protects your equipment, tools, portable computer equipment, and other supplies from theft, loss, or damage while they are in transit to and from worksites, such as in your work trucks. It is especially important if you store your tools and equipment in your truck or another vehicle.
  • An installation floater: Protects materials that are left at a job site to be installed but get damaged before you can do it. This coverage can be added to your commercial property policy.
  • A tools and equipment floater: Covers any leased or owned specialized tools and equipment while they’re stored on the construction site. It can offer coverage for tools like hand tools, power tools, contractors' gear (hard hats, goggles, etc.), and more. This floater can be added to your commercial property policy.

An independent insurance agent can help you customize your property insurance to make sure that you have proper coverage for your valuable tools and equipment, wherever they may be.

Why Do You Need Workers’ Compensation Insurance?

Decorative metalwork construction and installation can be dangerous for your employees. A multitude of accidents and injuries can happen on the job at any time.

That’s why you need workers’ compensation insurance. It provides coverage for medical expenses and lost wages for injured workers. Business owners are required to carry workers’ compensation insurance to protect their employees, but specific coverage requirements vary by state.

What Are Contractors Bonds and Do You Need Them?

You might need a variety of contractors bonds, or surety bonds, depending on the size and scope of the projects that you work on. Bonds are very important for any contractors who work on commercial or municipal construction sites.

Contractors bonds can be essential for finding, securing, and performing work. They are typically used to guarantee some aspect of the bidding process or building project, and assures the project owner that you are fully licensed, insured, and prepared to complete the project as promised.

Every type of bond is unique and tailored to a specific project. While you may not need them for every job, you should know what they are and be prepared to obtain them if required.

How Much Does Decorative Metalwork Contractor Insurance Cost?

The cost of decorative metalwork contractor insurance can range from several hundreds of dollars per month to thousands. The costs to insure your business will depend on the size of your operation, as well as a variety of individual risk factors including:

  • The size of your business
  • The location of your shop and any other buildings that you own or operate out of (office space, warehouse space)
  • The number of employees
  • The types of tools, machines, and specialized equipment that you have
  • How many trucks and drivers you have (if applicable)
  • The size and scope of the projects you take on
  • The value of the tools, equipment, materials, and other property that you keep on your premises

Ultimately, the types and amounts of coverage you need to adequately cover your risks will dictate the cost of your coverage.

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Benefits of an Independent Agent

An independent insurance agent who has experience working with decorative metalwork contractors and other similar businesses can help you decide the types and amounts of coverage that you need for your business. The choices you make will determine your cost of coverage.

Independent agents can work with numerous reputable insurance companies that specialize in your type of business. Together you can review a variety of proposals and choose the best mix of coverage that meets your needs and budget.

What’s more, your agent will be there for you when claim time comes. They know the ins and outs of the process and will make sure your claim is handled appropriately.

Find and Compare Quotes for Decorative Metalwork Contractor Insurance

Instead of getting an online quote, find an independent insurance agent now, and get one-on-one consultation and affordable options for the best coverage for your unique needs.

Your agent will work with you free of charge to get quotes from multiple insurance companies so you can make the best choice.

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TrustedChoice.com Article | Reviewed by Paul Martin

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