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Remodeling Insurance Quotes

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Progressive CNA The Hartford Travelers Hanover

Remodeling Coverage Options Include:

  Additional Insured Included:   YES
  Free Certificates:   YES
  Payment Options:   YES     (Pay in Full OR Payment Plans)
  Low Down Payments:   YES     (Flexible Payment Options)
  Coverage Limit Minimum:   $2,000,000 / $2,000,000 / $1,000,000

 


 

According to the United States Department of Labor, employment for the remodeling business is expected to grow 24 percent by 2022, much faster than the average for all other surveyed occupations. This is an exciting time to own your own remodeling service. With new construction trends slowing down, more homeowners are opting to remodel instead of buying new. If you’re savvy with your business decisions, there are no limits on how successful your remodeling business can be. You have the ability to create a wonderful business for yourself and your community, though a few considerations must be made first.

A major issue that faces remodeling companies when deciding on the insurance coverage needed is that no two companies do exactly the same type of work. Some may do snow removal in the winter. Some may do interior finish work and plumbing while some do design build. 

Remodelers may do landscaping or serious ground work as part of the project. No matter what your remodeling business focuses on, it is important to review any types of work accepted when considering insurance risk and exposure a remodeling job would create.

That leads to the crucial point of remodeling business insurance, using a licensed insurance professional every step of the way in designing your remodeling insurance package. Make sure to review what your business does, and what types of work you would consider, so an unforeseen incident doesn’t wreak havoc on your business.

Like most businesses, a basic combination of general liability, property insurance, and workers' compensation is the starting point. After getting the basic coverage, additional protection needs to be reviewed. Start with your general liability insurance. A business of any type, including a remodeling business, needs to have liability insurance in place. This liability insurance protects you and your company against many forms of negligence. 

Next, your property insurance for your business is very similar to the homeowner’s coverage you carry personally. You are protecting the building, furniture, and business equipment such as: phones, computers, cabinets, and copiers. It’s important to note that a separate commercial automobile policy also needs to be included. 

Finally, workers' compensation insurance is necessary if you have any employees.

Once the basics are covered, talk to your agent about other types of coverage that should be quoted.  Coverage like mechanical breakdown, loss of income, and maybe even some types of hazardous coverage if your business warrants it. The key to maximizing coverage coupled with affordability is working with your licensed insurance professional every step of way in formalizing your remodeling business insurance package.