An enterprise specializes in installing, shaping, and cutting wooden products throughout the building process. Plyboards get cut by a worker insured by a woodworking business. Although woodworking businesses provide beneficial services, there’s always an opportunity for accidents or risk of property damage because of the nature of the business. It is why insurance for woodworking businesses can be beneficial. It’s designed to safeguard companies’ financial assets and is an important decision for those who work in wood. Every trade, regardless of the industry, is subject to the risk that insurance ought to be able to cover.

From a manufacturing company’s perspective, insurance should provide your business with the highest, most broad protection. Alongside the coverage-related aspects, you might have particular insurance needs.

This article will go over various types of business insurance for woodworking manufacturers to help you choose the appropriate ones based on your requirements.

Different Types of Insurance for Carpenters

Based on the area you specialize in, Woodworking manufacturer insurance usually is a matter of insurance policies. Each policy has a distinct function to reduce the risk of exposure.

Commercial General Liability

General liability for commercial use is the most popular policy for woodworking companies. This type of carpenter insurance shields your company from unexpected financial consequences that could injure a person or damage someone else’s property while working on your job. If your cabinets fall and hurt someone, your business general liability policy will pay for legal expenses.

The need for a general liability commercial policy is essential regardless no matter how large or small your manufacturing company may be. The insurance type offers protection for injuries to third parties or property damage as well as legal costs and settlement.

Building and Contents Coverage

The building and contents insurance policy protect the building from physical damages that could occur in the facility. The high amount of sawdust and wood in carpentry establishments poses a higher risk of injury and could cause. It is why insurance coverage for buildings and contents is an essential policy you can purchase. However, the greater risk is also a challenge to locate a fair rate.

To ensure this, choosing an insurance company with experience in carpentry and manufacturing wood products is best. This kind of insurance policy can help to cover the following losses that are related to your company:

  • The property
  • The contents of it
  • The structure

Suppose an event causes the facility to be damaged, a vandalism incident, or equipment theft. In that case, your building insurance policy can aid you in paying for broken equipment and repairs or replacing stolen equipment.

Installation Floater

Suppose you’re engaged in a woodworking manufacturing specialty. So, that requires you to create specific products and transport them to the location to be installed, for example, the custom-designed cabinet maker. In that case, you’ll need floating installation equipment.

This policy covers all items that are stored or transported to the site where it is awaiting installation. Suppose you are protected and secure should an accident damage your work or the items disappear from the area. In that case, it is possible to recover your expenses.

However, make sure to work in conjunction with an insurance broker to assess your manufacturing woodworking business’s insurance requirements.

Workers’ Compensation

Workers’ Compensation Insurance is your essential issue as an employer. The policy covers injured employees and lost wages when they suffer injuries. Additionally, a worker’s insurance policy is legally required.

Certain states provide exemptions from the insurance policy requirement if you’re self-employed, sometimes called an affidavit of exclusion. If commercial or general contractors employ you, you could be required to maintain the policy, even if there aren’t any employees.

An insurance policy for workers’ compensation policy is vital to safeguard your employees from injuries related to work that they suffer. The following safeguards will be in place for an employee who is hurt while using machinery:

  • The medical bills
  • Their lost wages while out of work
  • Any rehabilitation required
  • And much more

Commercial Auto

Insurance policies for commercial vehicles will assist you in covering the cost of damages to your property, lawsuits, medical expenses, and other charges resulting from an accident. In addition, it will pay for vandalism, vehicle theft, or damage to vehicles caused by weather conditions.

Furthermore, you can customize this policy to suit your business’s woodworking manufacturing requirements. For example, the painter’s van will require more protection than a plumber’s vehicle since it gets used daily.

Find Your Insurance for Woodworking Business Quote Today

Operating a woodworking company is challenging enough without worrying about employee injuries, property damage, lawsuits, and injuries to employees. The right type of insurance will give you peace of mind while focusing on your core business activities.

An insurance company like Commercial Insurance Ottawa helps you identify the best coverage that will meet the requirements of your woodworking manufacturing business. Contact Commercial Insurance Ottawa, or call us at (613) 454-5640 or email us at