What Insurance Do Drywallers Need?
As a drywaller, you measure, cut, and install drywall panels for interior walls and ceilings in homes and commercial buildings. Like any trade, drywalling comes with its own set of risks from accidental damage to property to potential third-party injuries on the job.
Drywallers need customized insurance to protect their business, their clients, and themselves.
Let’s take a look at the business insurance that a drywall finisher and plasterer needs:
Commercial general liability insurance
Commercial general liability (CGL) insurance is the cornerstone of any contractor's insurance policy.
For drywallers, this coverage is necessary because it protects against third-party claims of bodily injury, property damage, and personal injury from a client or supplier.
If a client trips over your equipment and gets injured, or if you accidentally damage a client’s property while on the job, general liability insurance can help cover the costs of medical bills, repairs, and legal fees.
Key Benefits:
- Covers medical expenses for third-party injuries
- Provides coverage for property damage caused by your work
- Protects against legal costs and settlements if sued
Commercial auto insurance
Many drywallers rely on vehicles to transport materials, tools, and equipment to job sites. Commercial car insurance is needed to protect your vehicles and ensuring you are covered in case of an accident. Personal auto insurance policies typically do not cover vehicles used for business purposes, making commercial auto insurance a necessity.
Key benefits:
- Covers damage to your vehicle due to accidents, theft, or vandalism
- Provides liability coverage for bodily injury and property damage to others
- Covers medical payments for you and your passengers
Tools and equipment insurance
Your tools and equipment are the lifeblood of your drywalling business. Tools and Equipment Insurance protects these essential items from theft, damage, or loss. This coverage ensures that you can quickly replace or repair your tools without significant financial strain, keeping your business running smoothly.
Key benefits:
- Covers the cost of replacing or repairing tools and equipment
- Protects against theft, vandalism, and accidental damage
- Provides coverage on and off job sites
Any item valued at less than $1,500 is considered a tool. Anything valued above $1,500 is considered equipment.
Professional liability insurance
Also known as errors and omissions insurance, this coverage is particularly important for drywallers who provide consultation or advice to clients.
Professional liability insurance protects you from claims of negligence, errors, or omissions in the services you provide. For example, if a client claims that your advice on a particular drywall technique resulted in damage or additional costs, this insurance can cover legal fees and settlements.
Key benefits:
- Covers legal defense costs if sued for professional negligence
- Protects against claims of errors or omissions in your work
- Provides financial protection for settlements and judgments
Commercial property insurance
If you own or lease a physical location for your drywalling business, such as a workshop or office, Commercial property insurance is essential. This insurance protects your business property from risks such as fire, theft, and natural disasters. It covers the building itself as well as the contents, including furniture, inventory, and equipment.
Key benefits:
- Covers repair or replacement costs for damaged property
- Protects against losses from fire, theft, vandalism, and natural disasters
- Provides coverage for business interruption losses
Inland marine insurance
For drywallers who frequently transport materials and equipment between job sites, Inland Marine Insurance offers additional protection. This insurance covers property in transit, ensuring that your materials and tools are protected while on the move. It also covers property stored at locations other than your primary place of business.
Key benefits:
- Protects property while in transit or temporarily stored off-site
- Covers a wide range of items, including materials, tools, and equipment
- Provides peace of mind for mobile businesses
Umbrella insurance
Umbrella Insurance provides an extra layer of liability coverage beyond the limits of your general liability, commercial auto, and workers' compensation policies. This insurance is especially useful for protecting your business from large, unexpected claims that could potentially exceed your primary coverage limits.
Key benefits:
- Offers additional liability coverage for severe claims
- Protects your business assets and financial stability
- Provides peace of mind with broader protection
In the drywalling business, having the right insurance coverage is not just a smart business move -- it’s a necessity. By investing in the appropriate insurance policies, you can focus on what you do best while knowing that you are protected from the financial risks associated with your trade.
