As a drywall contractor, you may be responsible for choosing, installing, removing and repairing different types of drywall.
It's possible you could be found working on residential projects or with a commercial client. Perhaps you're installing, removing or repairing the materials used to cover plumbing, wiring and wood studs.
Point is, to survive in today’s business world, you need to be versatile. And you need an insurance program that specifically tailored to your needs, and that’s as versatile as you.
The nature of building walls and structures is risky business, particularly when you’re handling large sheets of material that can be heavy and difficult to maneuver, often while working on scaffoldings and ladders.
To protect you and your business from the numerous risks that you face on a daily basis, you need to make sure you have the proper insurance coverage in place.
Like any other business, drywall contractors need a variety of insurance coverages to ensure their operation is protected. Additionally, rules and coverages can vary from state to state, so understanding Ohio Drywall Insurance is essential.
Commercial General Liability Insurance
If you run a drywall business, then a Commercial General Liability (CGL) insurance policy is a must, as it would protect when lawsuits or financial losses occur.
A typical CGL policy provides coverage for claims of bodily injury or other physical injury, personal injury (libel or slander), advertising injury and property damage as a result of your products, premises or operations.
For example, one of your employees was hanging new drywall at a construction project when he accidently drilled through a small water pipe, which was located behind the wall.
It was several weeks before someone realized the water leak was occurring, which resulted in a substantial amount of mold growth between the walls.
Your business was held responsible for the cleanup of the mold, and you had attorney’s fees to pay for the defense of third party bodily injury claims from those who became sick from the mold.
Without a CGL policy, your drywall business would be paying for these damages out of pocket.
As a safeguard against liability, CGL enables you to continue your normal operations while dealing with real or fraudulent claims of negligence or wrongdoing. CGL policies also provide coverage for the cost to defend and settle claims.
Commercial Auto Insurance
Commercial Auto Insurance is another important policy that all Ohio drywall businesses must consider because you’re relying on vehicles to get you from one client to another. Doesn’t matter if you have one truck or a fleet of 100, you still need Commercial Auto Insurance.
The trucks or trailers that you’re using to haul your equipment should be insured. A Commercial Auto Policy can be used to insure vehicles for:
- Liability – this would protect the business owner in the event of an at-fault accident where the owner, or any employees, caused injuries to others while driving a company vehicle
- Physical damage to the vehicles owned by the business if they’re involved in an accident, stolen or vandalized
- Or both Liability and Physical Damage
For example, it’s the end of a long day and you’re headed to check on one final project before heading home. On the way, you are involved in a collision with another driver.
You’re driving one of your company-owned trucks, there’s extensive damage to your vehicle, and to the other driver’s vehicle.
Your Commercial Auto policy could cover the property damage, the medical expenses and any potential legal costs involved.
Finding the best insurance policy for your Drywall business in Ohio, and figuring out the types of coverage needed to protect your business, can be confusing, time consuming and difficult.
However, the right insurance protection is still critical to the success of your business. Without it, you're one claim away from being out of business.
And remember, not all policies are created equal.
You probably wouldn’t go to your eye doctor instead of your dentist if you were having a toothache, right? Just because they’re both doctors doesn’t mean they have the same skillset.
Just the same, you need an Insurance Advisor that understands your industry, your risks of loss, and how best to protect you and your business.
We can help.
We know the industry, we understand your needs, and we work with multiple insurance companies so we can deliver the insurance solution that’s perfect for your business, and your budget.
When you have confidence in your business insurance, you have greater peace of mind knowing that you can keep working to generate revenue, even when disaster strikes.
To get started on your customized solution, contact one of our Licensed Advisors, or Request a Proposal and we’ll get to work right away.