Get the Right Protection With Fence Contractors Insurance
This article provides an in-depth look at key commercial business insurance policies fence contractors need and how an independent insurance agent can help craft a comprehensive solution.
Let’s explore how to safeguard your fencing business with insurance tailored to your trade.
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Table of Contents
Critical Coverages and More Understanding About Insurance For Fencing Contractors
Whether made of wood, chainlink, vinyl, or ornamental metal, fences and gates enhance properties across America.
As a professional fence contractor, you bring beauty, security, and privacy to residential and commercial settings with your installations.
However, performing fencing work also comes with substantial risks, ranging from liability claims to workplace injuries.
Proper insurance is crucial to protecting your finances and business assets if the unexpected occurs.
This article outlines essential contractors insurance options for contractors, including:
- General liability insurance
- Commercial auto insurance
- Workers’ compensation insurance
- Equipment coverage
- Builders risk coverage
- Commercial Umbrella liability
Read on to learn more about how these policies defend your fencing business against risks inherent with excavation work, post-hole digging, railing fabrication, and gate installations.
With the right type of insurance, your fence company can confidently take on jobs.
General liability insurance is the first line of protection against many risks contractors face working on residential and commercial properties. It covers legal defense costs and settlements up to your policy limits if you are deemed liable for bodily injury, property damage, or other damages.
For fencing pros, general liability protects your finances in the following types of situations, including:
- A wooden fence collapses and causes injury due to improper installation
- Electrification of a gate malfunctions and harms someone
- Employees damage a client’s lawn or garden during fence construction
- A customer trips over tools left behind at the job site
Even with strict safety protocols, accidents, and oversights may still happen, which could prove devastating for a small business.
General liability coverage protects your assets when you are held legally liable for injuries or damages.
Most experts recommend $1 million as the minimum policy limit.
Your vehicles are always at a risk when traveling between job sites, hauling lumber/pipe, and maneuvering on occupied properties. Without commercial auto insurance, you are liable to pay for damages or injuries out of pocket after an at-fault accident.
Commercial auto coverage protects your business vehicles and drivers by covering:
- Liability claims against your business if an employee causes an accident
- Damage to your vehicles after collisions
- Medical payments for injured drivers
- Temporary rental vehicles, if yours are in the shop
- Properly covering your pickup trucks, trailers, and installation equipment is crucial.
Consult with an insurance pro to structure the optimal commercial auto policy.
When you are in the contracting business, your workers are at risk of injuries from physical work, such as falls, strains, sprains, and cuts, among others, due to the nature of work.
Carrying compliant workers’ compensation insurance is mandatory in most states. It covers lost wages, medical bills, rehabilitation, and long-term care for injured employees. When an accident happens, workers’ comp allows you to focus on assisting your injured worker without worrying about claim costs.
Key aspects of workers’ comp coverage include:
– State-required limits based on payroll and risk classifications
– Claim administration expertise to facilitate medical care and return to work
– Discounted prescription drugs and access to medical networks
In addition to fulfilling state requirements, workers’ compensation prevents workplace injury claims from depleting your finances.
Partner with an insurance broker to structure the best coverage program. Discuss if you need coverage separately.
You rely on equipment like augers, pothole diggers, post drivers, saws, and welding machinery to complete installations efficiently. Having proper insurance to repair or replace these assets following losses is essential.
Options for covering fencing equipment include:
- Inland marine policy – Provides broad coverage with a blanket limit on tools and equipment.
- Scheduled policy – Covers specific high-value items like drills and welders with selected limits per item.
- Builders risk – Can include materials/equipment stored on a work site during fence projects.
Discuss the right insurance plan with your insurance advisor based on your tools, materials, and exposures.
Performing major fence installation contracts means you have invested substantial money in material stacked at the job site and completed projects yet to be delivered.
Fire, storms, floods, theft, and vandalism could strike before the customer accepts and pays for the finished job.
Builders risk insurance covers materials and contracted work against loss on a customer’s premises while the project is underway.
Having business insurance for fence safeguards your invested time and materials if a catastrophic event damages unfinished work.
A serious injury claim could exceed your policy’s limits even with general liability coverage. This poses a huge risk to your business assets unless you have adequate protection.
An umbrella liability policy provides a second layer of protection above your general liability maximum.
It provides $1 million to $5 million (or more) in additional protection to cover catastrophic claims that breach your primary policy limits.
For contractors undertaking major installation projects, umbrella insurance provides invaluable peace of mind.
It saves you from the risk of paying claim amounts beyond your normal policy limits in a worst-case incident.
Choosing the Right Fence Installation Insurance Agency
Every business is prone to risks, and your fence installation company is no different.
Navigating the numerous risks business owners face while installing a fence requires an insurance agent familiar with your industry.
Be sure to choose an agency that:
- Focuses specifically on contractor insurance, not generic policies. They understand the unique risks you face.
- Has relationships with multiple carriers. This enables them to shop for the optimal price, coverage, and service.
- Provides ongoing support year-round, not just at renewal time. You want an insurance provider who is like a partner in your growth.
The right agent becomes a trusted risk management advisor, helping you avoid coverage gaps and improve safety protocols.
When you need to buy coverage for all potential risks and liabilities, look for insurance experts. They can find comprehensive coverage for fencing options.
Getting The Right Insurance For Your Fencing BusinesS
We know how frustrating and complex the process of finding the right coverage and getting a COI can be and how it slows down your ability to care for your customers.
Let us help fix it for you in 3 easy steps.
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Fence Contractor Insurance FAQs
Average annual premiums range from $15,000 to $100,000+ depending on your payroll, revenue, claims history, and trade classifications.
Your agent can provide fence installation contractor insurance quotes tailored to your business.
Carrying robust professional liability insurance along with commercial umbrella insurance is strongly recommended for contractors involved in construction sites.
Given the injury risks, limits of $1 million to $2 million or more are advisable.
General liability insurance will protect you against legal defense costs and payouts (up to your policy limits) if you are held liable for third-party bodily injury and property damage stemming from your fencing installation work or operations. Without general liability and property damage coverage, your business income and reputation are at risk.
BOP combines general liability and commercial property coverage into one policy.
Yes, proper commercial auto insurance covers costs of potential risks that you face while operating any vehicles for business purposes.
It protects your company if an employee causes an at-fault accident while driving for work.
Yes, virtually all states require contractors to carry workers’ compensation insurance as protection if any employee is injured.
This policy covers lost wages and medical expenses if one of your employees is hurt on the job, regardless of fault.
Discuss your need for employee dishonesty coverage with your insurance company.
- New York
- North Carolina
- South Carolina
Get Insurance Quote For Fencing Business
Building beautiful, durable fence and gate installations involves managing various risks, from falls to costly material damage. Carrying proper insurance is crucial to avoid financial hardships when accidents and mishaps happen.
The need of the hour is to work with a licensed insurance agent experienced in covering fencing and construction trades. They can assess your specific risks and build a comprehensive program, including general liability policy, commercial property insurance, workers’ compensation, tools and equipment insurance, cyber liability insurance, cyber insurance, business owner’s policy, and umbrella insurance.
The right insurance portfolio defends your business assets and provides peace of mind, knowing you are covered for the unpredictable. There are potential risks involved in chainlink fencing business. The electrification of a fence is a big hazard that you want to get coverage for.
Contact the commercial insurance experts at The Allen Thomas Group to discuss the best protection for your fencing installation business. Let our experts explain how insurance helps lower your risks significantly as the owner of a fencing company. We can explain why you need insurance for a particular risk.
Insurance offers you peace of mind and coverage against potential losses. Protect your fence business today with the most comprehensive fencing insurance from The Allen Thomas Group.
Get a free quote NOW and apply for a certificate of insurance once you have the best insurance package at hand.
Our team of experts will analyze your needs closely and put together a quote customized for your potential risks and present and future needs.
Contact us today to get your contractor insurance cost before it is too late! Nobody can forewarn a risk!