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What types of insurance do flooring installation businesses need?
These policies provide coverage for common risks of flooring installation.
General liability insurance
This policy covers third-party flooring installation risks, such as damage to a client’s furniture while installing carpeting. Bundle with property insurance for savings in a BOP.
BEST FOR
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Slip and fall accidents
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Damaged customer property
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Libel or slander lawsuits
Workers’ compensation insurance
Workers’ compensation insurance is required in almost every state for flooring installation businesses that have employees. It can cover medical bills for work-related injuries.
BEST FOR
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Employee medical expenses
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Missed wages
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Legal costs
Commercial auto insurance
This policy covers third-party property damage and injuries caused by company vehicles, as well as vandalism to a flooring company’s utility truck.
BEST FOR
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Physical damage and collision coverage
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Injuries caused to another person
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Vandalism and theft
Contractor’s tools and equipment insurance
This policy helps pay for repair or replacement of a contractor’s flooring nailers, miter saws, and other tools if they are lost, stolen, or damaged.
BEST FOR
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Equipment less than five years old
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Mobile equipment
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Small tools
How much does insurance cost for flooring installers?
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Several factors will have an impact on insurance costs, including:
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Installation services offered
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Business equipment and property
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Revenue
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Location
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Number of employees
Why do flooring installation businesses need insurance?
From hardwood to carpet installation, your small business faces big risks. If a customer sues over property damage, or a company vehicle is involved in an accident, legal bills could lead to bankruptcy. Flooring contractor insurance can cover attorney's fees, medical bills, and more.
