What Coverages Do Welding Contractor Policies Offer?
Most welding contractor policies are written as package policies, which means they contain multiple coverages within them. This can allow policies to cover against multiple and very different risks. The specific coverages found within welding policies generally break down into property coverages and liability coverages.
Property coverages normally protect the things that a business owns. Some property coverages that welders commonly need are:
- Business Personal Property Coverage, which may cover equipment, tools and supplies when they’re at a business’s facility
- Inland Marine Coverage, which may cover equipment and tools when they’re transported to and from work sites
- Builders Risk Coverage, which may cover equipment and tools while they’re at work sites
- Equipment Breakdown Coverage, which may cover essential equipment in the event of a malfunction
- Employee Dishonesty Coverage, which may cover employee theft
Liability coverages normally protect against incidents that a business could be held financially responsible for. Some liability coverages that welders commonly need are:
- General Liability Coverage, which may cover common accidents and basic defamation lawsuits
- Auto Liability Coverage, which may cover accidents employees are in while they’re driving for work
- Completed Operations Liability Coverage, which may cover malfunctions in work that’s been completed
- Umbrella Liability Coverage, which may provide a supplemental layer of liability protection
Auto liability coverage can frequently be expanded into a commercial auto coverage that also protects business-owned vans and trucks against damage.
Do Welders Who Work as Subcontractors Need Their Own Insurance?
Welders who perform work as subcontractors may receive some insurance coverage from their hiring contractor. Not all hiring contractors extend coverage, though, and those that do might not offer all of the protections that welders need. After all, welders have some unique risk considerations that many general contractors don’t have.
Because suitable coverage isn’t always provided by a hiring contractor, subcontracting welders are often wise to procure their own insurance. An insurance agent who specializes in welder policies can help welding contractors review their particular situation, and obtain any coverage that they might want or need.
How Can Welders in Massachusetts Get Welding Contractor Insurance?
For help insuring a Massachusetts welding business, contact the independent insurance agents at Paul T. Murphy Insurance. Our agents can show you policy options from many insurance companies in the state, and we have the professionals necessary to help you select the best welding contractor insurance policy for your business.
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