Protect Business With Tile and Stone Installation Contractor Insurance
As a tile and stone contracting business, your business is your reputation and livelihood. However, various risks can impact your operations and financial stability unless you are protected against them.
Understanding and addressing these risks is crucial for sustained success. What type of risks and liabilities does a tile setting contractor need?
What liabilities exist in your business? Are you adequately protected against potential damages or accidents occurring at job sites or during installations? How are you safeguarding your valuable tools, equipment, and inventory against theft, damage, or loss? Have you considered the potential impact of natural disasters?
What about worker safety? Are your employees properly trained and equipped to mitigate the risk of work-related injuries? Do you have sufficient workers’ compensation coverage in place?
In the event of a lawsuit or unforeseen circumstances, do you have adequate insurance coverage to protect your business’s financial health?
Carrying commercial property insurance can help your company in the event of property damage, lawsuits, injuries, or other costly mishaps that may require replacing damaged or stolen equipment.
While different types of insurance are essential for tiles and stone installers, an experienced insurance company can tailor the best coverage for contractors.
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Critical Coverages and More Understanding About Insurance For tile and stone installers
From stylish ceramic tile to elegant marble and granite, tile and stone contractors bring impressive finishes to homes and commercial settings across America. As a tile pro, you know that impeccable installation is crucial for creating finishes that wow customers.
However, performing tile work also comes with substantial risks ranging from liability claims to workplace injuries.
Proper business insurance for tile contractors is crucial to protecting your finances and business assets if the unexpected occurs.
This article outlines essential commercial insurance coverages tile contractors need, including:
- General liability insurance
- Professional liability coverage
- Workers’ compensation coverage
- Commercial auto insurance
- Tools and equipment insurance
- Builders risk / Installation floater
- Umbrella liability
Read on to learn more about installation insurance policies for tile contractors to defend your business against risks inherent in tile installation projects and stonework.
With the right insurance package, you can take on jobs with confidence, knowing you are covered.
As a heavy tile contractor, the risk of expensive legal action is always there. Injury claims, damaged property, completed operations lawsuits, or professional mistakes make your business vulnerable to substantial liability.
General liability policy covers defense costs and liability payouts if customers or third parties sue your company for covered incidents up to the limits you select.
Key risks covered include:
- Bodily injury from slips, trips, or falls caused by unsafe installation
- Property damage from water leaks or other tilework issues
- Completed operations claims after the job was done
- Professional mistakes resulting in the need to redo work
- Liability insurance provides vital protection if you or your employees are deemed negligent and responsible for damages or injuries during tile installation projects.
Consult with an insurance professional to select adequate liability limits reflecting the exposures your business faces.
Your vehicles are at a high risk daily while traveling between job sites, hauling heavy materials, and maneuvering on occupied properties. Potholes, debris strikes, collisions, and rollovers could all easily damage your truck, van, or trailer.
Whether you are a business owner or general contractor, proper commercial auto insurance is essential to transfer this risk. It pays to repair your vehicles following covered accidents. And it covers medical payments and liability claims if your drivers cause an accident on the job. Key coverages include:
- Liability – Covers injuries or damage to others you are responsible for while driving
- Collision – Repairs damage to your vehicles after an accident
- Comprehensive – Pays for losses from theft, floods, hail, fire and vandalism
- Medical payments – Provides immediate medical care for injured drivers
Consult with an insurance provider to discuss your vehicle risks and learn more about auto insurance policy.
They can guide advisable liability limits, whether to carry collision/comprehensive coverage and any trailer exposures.
Don’t take chances with gaps in auto coverage.
Handling heavy materials and working with cutters and grinders creates the potential for workplace injuries.
Cuts, falls, strained muscles, and other claims could result in substantial lost time and medical expenses.
In most states, carrying proper workers compensation insurance is legally required.
This covers lost wages, medical bills, rehabilitation, and long-term care for employees injured on the job.
When an accident happens, workers’ comp allows you to focus on assisting your injured worker without worrying about claim costs.
Critical aspects of compliant tile contractor 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 provider networks
In addition to fulfilling state requirements, workers’ compensation insurance can help protect you from workplace injury claims—partner with an insurance carrier to customize the optimal program.
As a stone or tile professional, you rely on expensive tools like wet saws, laser levels, tile cutters, and mixers to deliver impeccable results. Having proper insurance to repair or replace these assets following losses is essential.
Options for covering contractor equipment include:
Inland marine policy – Covers tools and equipment on a blanket basis with a total limit. Flexible for contractors with varying equipment needs.
Scheduled policy – Covers specific items like wet saws and laser systems with selected limits per item. Ideal for high-value equipment.
Builders risk – Can include materials/equipment stored on a job site during tile installation projects.
Discuss the right approach with your insurance advisor based on your tools, materials, and exposures.
Don’t leave crucial equipment uninsured.
Performing major setting and installing ceramic tile contracts often means you have substantial money tied up in materials staged at the job site and work completed awaiting sign-off.
Fire, storms, floods, theft, and vandalism could all strike before the customer accepts and pays for the finished tilework.
Installation floaters and builder’s risk policies cover materials and contracted work against losses while working on a customer’s property.
Having this coverage in place safeguards your invested time and materials if a catastrophic event damages unfinished work.
Even with general liability coverage, a serious injury claim could exceed your underlying policy’s limits.
This opens your business assets up to potential seizure without extra protection.
Adding an umbrella liability policy provides a second layer of coverage 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 tile and stone contractors taking on major installation projects, umbrella coverage is essential for locking down risks and avoiding massive settlements or judgments.
Discuss your protection needs with an insurance pro.
Finding the Right Tile Insurance Agency Is Crucial
Navigating the numerous risks contractors face requires an insurance agent familiar with the tile and flooring trades. Be sure to choose an agency that:
- Focuses specifically on contractor insurance, not generic policies. They understand the unique risks you face.
- Has experience working with multiple carriers. This enables them to shop for the optimal combination of price, coverage, and service.
- Provides ongoing support year-round, not just at renewal time. You want an advisor invested in your success before and after the sale.
The right agent becomes a trusted risk management advisor, helping you avoid coverage gaps and continually improve safety protocols.
Don’t leave your insurance needs to chance – seek out tile and stone expertise from The Allen Thomas Group
Getting The Right Insurance For Your Tile and stone installation 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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Tile & Stone Contractor Insurance FAQs
Average annual premiums range from about $10,000 to $50,000+ depending on your payroll, revenue, claims history, and trade classifications.
Your agent at The Allen Thomas Group can provide quotes tailored to your business.
Carrying robust general liability along with umbrella coverage is strongly recommended.
Given the fall and injury risks, limits of $1 million to $2 million or more are advisable.
An insurance expert can advise better after thoroughly analyzing what insurance you need to protect your business.
General liability covers legal defense costs and payouts (up to your policy limits) if you are liable for third-party property damage or bodily injury stemming from your tile contracting work or operations.
You may need contractors professional liability insurance for additional protection.
Yes, maintaining proper business auto insurance is essential for tile contractors 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 tile and stone contractors to carry workers’ compensation insurance.
It covers lost wages and medical care for employees injured on the job – regardless of who was at fault.
- New York
- North Carolina
- South Carolina
Get the Best Stone and Tile Installer Insurance Quote Now!
Installing beautiful yet durable tile and stone finishes does not come without risks. There is a vast potential for risk, from falls to project delays and costly material damage.
Proper insurance provides coverage against potential liabilities and helps avoid financial hardship when accidents and mishaps happen.
Work with an independent insurance agency experienced in covering tile and flooring contractors. At The Allen Thomas Group, we have 20+ years of experience in the insurance industry.
We can assess your specific risks and build a comprehensive program, including crucial coverages.
Let us help you find the right insurance portfolio for your specific business needs.
Our insurance experts can determine the crucial coverages for you, such as general liability, commercial auto coverage, workers’ compensation, commercial property insurance, inland marine insurance, builder’s risk insurance, equipment insurance, errors and omissions insurance, cyber liability insurance, and umbrella insurance.
Contact the commercial insurance experts at The Allen Thomas Group to discuss specialized insurance and risk management products that tile contractors need.
Our hardworking team is dedicated to offering the specialized insurance products that you need to safeguard your business.
Get insurance quotes online with The Allen Thomas Group and apply to get a certificate of insurance as proof of coverage for your stone installing business.