Insulation Contractor Insurance

Insulation Contractor Insurance

Insulation contractors install insulation materials in a wide range of properties, including both residential and commercial. No matter what type of insulation you’re installing or where, this line of work comes with a variety of risks. Protect yourself and your business from these day-to-day risks with insulation contractor insurance.

Insulation Contractor Insurance
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Do I need insulation contractor insurance?

If you work as an insulation contractor or run an insulation contractor business, then insulation contractor insurance is strongly recommended. Insulation contractor insurance is a personalized commercial insurance policy designed to protect companies just like yours. More specifically, this type of coverage can protect your business from common risks like third party property bodily injury claims, incidents of property damage, theft, and more.

What risks do insulation contractors face?

Insulation contractors face many risks. Some of the risks that can be mitigated with insulation contractor insurance include:

  • While driving to their next job site, one of your employees gets into an automobile collision. One of the company cars is seriously damaged and an injured passenger from the other vehicle involved in the collision files a lawsuit against your business. 
  • During a job, one of your employees accidentally hits and damages your client’s HVAC unit, resulting in major damage. 
  • While installing spray insulation in a luxury home, one of your employees accidentally falls through the ceiling, resulting in extensive damage to furniture and decor in the room beneath it.
  • Expensive tools and materials are stolen from your warehouse.

Protect your insulation contractor company with the right coverage

Insulation contractor insurance policies vary between policyholders. However, the following coverage types are typically available to insulation contractors when purchasing commercial insurance policies: 

  • Commercial general liability insurance: Commercial general liability coverage, also known as slip and fall insurance, aims to protect your insulation contractor company against claims of third party bodily injury and property damage. It covers the cost of injury or damages to a third party, legal fees (e.g. defence and settlement fees), and more.
  • Commercial property insurance: Commercial property insurance protects your insulation contractor business’s office or other place of business, as well as any business-related contents. Depending on the perils you choose, it may protect your office if it is damaged by water, fire, theft, vandalism, etc.
  • Tools and equipment insurance: With tools and equipment insurance, your insurer may cover the costs of repairing or replacing your insulation contractor company’s tools or equipment if they are damaged or lost due to an insured peril.  
  • Commercial auto insurance: Commercial auto insurance is worthwhile if your insulation contractor company uses cars, vans, or trucks for commercial purposes, such as to transport materials or equipment to or from a client’s home. Commercial auto insurance policies vary but may include third party liability coverage, uninsured automobile coverage, accident benefits coverage, collision coverage, and more. 
  • Professional liability insurance: Professional liability insurance can protect your business and its employees from claims of negligence, error, or malpractice that result from your work.
  • Pollution liability insurance: Since contractor work may involve environmental hazards like asbestos, pollution liability coverage might be worthwhile. It could protect your insulation contractor company from claims of third party bodily injury, property damage, or environmental damage resulting from your work. 
  • Crime insurance: Crime insurance is one final type of coverage recommended to insulation contractor companies. This type of coverage can help mitigate the financial losses of employee or customer crimes against your business, like internal theft, forgery, fraud, and employee dishonesty.

How the cost of insulation contractor insurance is calculated

If you are thinking about purchasing insulation contractor insurance, then you are probably wondering how much it costs. The reality is that insurance companies consider all kinds of factors when calculating insurance rates. Some of the most common factors used to determine insulation contractor insurance premiums include: 

  • The size and location of your insulation business
  • Your insulation business’s annual and projected gross revenue
  • The tools and equipment owned or leased by your insulation business
  • Your years of experience
  • Your services offered (commercial, residential, or both)
  • The number of employees you have
  • Your licenses or certifications and that of each of your employees
  • The coverages, policy limits, and policy deductibles you choose

As you can see, many factors are used to determine the cost of insulation contractor insurance. If you would like to receive an accurate quote on your insulation contractor insurance policy, contact ALIGNED and speak with one of our insurance brokers today. They will take the time to understand your business’s coverage needs and can even provide you with an estimate.

Finally, it is important to note that although insurance brokers like those at ALIGNED can help you find a great insulation contractor insurance policy at a competitive price, they do not set premiums. Instead, insurance premiums are calculated by insurance companies. That said, an insurance broker at ALIGNED can still help you find a tailor-made policy, unlock discounts, compare rates, and even explain the process of modifying a future policy or filing a claim. 

Do all types of contractors need insurance?

Many types of contractors, from insulation contractors to demolition contractors, can benefit from commercial insurance. Ultimately, no matter what kind of contract work you do, it comes with risk, and one of the best ways to minimize financial risk is through insurance.

Where can insulation contractors buy insurance?

Ready to purchase insulation contractor insurance? Doing so is easier than you might think. Thanks to full-service insurance brokerages like ALIGNED, buying an insulation contractor insurance policy is stress-free. Although you have the option of contacting an insurance provider directly, many contractor businesses prefer to go through a broker. This is due to the many benefits brokers offer, which we outline in detail below. Ultimately, if you want to save time and money, and find a great policy for your insulation contractor business, look no further than ALIGNED. 

3 reasons to buy insulation contractor insurance from an ALIGNED broker

Still not convinced that working with an insurance broker is right for you? Let us change your minds by outlining the top three reasons to work with an ALIGNED broker below.

  • ALIGNED brokers are experts in commercial insurance: First, ALIGNED insurance brokers have commercial insurance expertise. They are fully licensed and have worked in the insurance industry for years. This means that they can help you navigate the entire process from start to finish.
  • ALIGNED brokers provide objective advice: Next, ALIGNED brokers do not work for insurance companies. Instead, they work independently of insurance companies. This allows them to provide all customers with unbiased, objective advice on the best policies for them and their businesses. 
  • ALIGNED brokers take care of everything: The third benefit of working with an ALIGNED broker is that they take care of everything. We all know how stressful shopping for insurance can be. ALIGNED takes the hassle and stress out of insurance shopping by doing the work for you. Our team will take care of everything, from reaching out to insurance companies on your behalf to obtaining and comparing quotes. You sit back and relax while we do the heavy lifting.

ALIGN your business with personalized insulation contractor insurance 

Still have questions about insulation contractor insurance? Contact ALIGNED and speak with an insurance expert today. One of our licensed insurance brokers will be pleased to answer your questions and explain your coverage options. You can also get started by clicking here for a free quote.

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