Working as a plastering contractor can be a profitable endeavor, but it’s one that comes with certain risks. Plastering contractors in Massachusetts are often exposed to both property and liability risks, but plastering contractor insurance can help mitigate many of these.
Plastering contractor insurance is a specialized commercial insurance that’s intended for plastering contractors. In order to protect against both property and liability risks, most of these policies come as package policies that let contractors choose from a range of available protections.
Most drywall installers and plastering professionals in Massachusetts ought to carry this type of insurance. Not having insurance in place can leave professionals and businesses financially devastated if something happens, and plastering contractor policies usually have the coverages that these businesses need.
Additionally, lathing, soundproofing and firestop contractors might also find that plastering contractor policies meet their needs well. Professionals who do this sort of work can speak with an insurance agent who specializes in plastering contractor policies to find out whether an available policy indeed is suitable for their situation.
Depending on a plastering contractor policy’s terms, it might make a number of different coverages available. Some of the more common ones are:
Businesses that maintain an official office or storage facility might also want extra expenses coverage. If a facility is damaged and made unusable in a disaster, this coverage may help pay rental fees for another place.
Tools that are left at job sites generally should be insured against theft, but plastering contractors typically don’t need to worry about getting a coverage for this risk. The risk normally falls under builders risk coverage, and many general contractors carry this protection. When a general contractor hires a plastering contractor, any builders risk coverage that the general contractor has usually also applies to the plasterer’s equipment for the duration of the project.
Workers compensation is the coverage that normally protects against job-related injuries. The protection usually pays medical expenses and a portion of an employee’s lost wages when there’s a qualifying injury.
Because injuries can be costly, most plastering contractors ought to carry workers compensation coverage. Contractors who have employees are likely required by state law to provide the protection, and self-employed contractors might still want the protection even if they don’t legally need to carry it. In some situations, workers compensation might cover injuries that are excluded by a health insurance policy.
If you need plastering contractor insurance and work in Massachusetts, contact the independent insurance agents at Paul T. Murphy Insurance. Our agents will compare quotes from several insurance companies with you, and they can help you select whichever policy best meets your business’ needs.