Drywall Contractor Insurance

Why do drywall contractors need insurance?

Drywall contractors are an essential part of the U.S. construction industry. By installing walls and ceilings, you help transform frame skeletons into the homes, businesses, schools, and other buildings that keep people safe and sheltered. But have you thought about protecting yourself?

When you start a small drywall business, insurance might be the last thing on your mind. However, by not considering drywall business insurance, you may be opening yourself up to financial risk. A claim or lawsuit triggered by a simple accident could leave you with expensive legal bills and other unplanned costs.

That’s where drywall contractor insurance can help. The different types of coverage available to drywall contractors could help shield your bank accounts if a claim is made against you and your business.

Customized business insurance for drywall contractors

There are different types of liability insurance for drywall contractors that you might consider for your small business. The policies you choose will depend on your business needs.

General Liability

Also referred to as Commercial General Liability (CGL) or “slip and fall coverage”, this insurance can protect your business against bodily injury or property damage lawsuits from outside parties.

Anything can happen on a construction site. An innocent accident, like bumping into a ladder or leaving your toolbox in the wrong place, could cause trouble for your drywall business. If your actions injure someone else or damage their property, you might be stuck with a huge bill trying to set things right.

General Liability insurance helps keep compensation claims and lawsuits from draining your bank accounts. Your policy pays costs associated with covered claims, such as:

• Your legal defense costs (like hiring an attorney or paying court fees)
• Medical bills for the injured party
• Repair or replacement costs

Workers’ Compensation

Workers’ Compensation insurance protects you against medical expenses and lawsuits that can arise from employee workplace injuries and illnesses. It could also pay lost wages as a result of the work injuries that an employee sustains.

If you directly employ other contractors or office staff to help run your business, you may be required to have a Workers’ Compensation policy. Check your state or local government website to understand the workers’ comp laws in your area and when insurance is mandatory.