Cabinet Installer Insurance
How customized business insurance protects your assets
Written by
Ann Herro has been writing about insurance and employee benefits for over 15 years. She has covered topics as easy as insuring a car, and as difficult as transparency in healthcare costs.
Reviewed by
Paul Martin is the Director of Education and Development for Myron Steves, one of the largest, most respected insurance wholesalers in the southern U.S.
Cabinet installation companies are part of the finish carpentry industry. These specialty carpenters typically install built-in wood cabinets that are constructed at the construction site (typically a residence), or that are constructed at their own facility and then transported to the residence and installed.
Cabinet installation companies face complex, costly risks every day, from project start to finish and even beyond. If an accident or some type of property damage occurs during a project, the losses can be costly and disruptive to your business.
You need a comprehensive business insurance program to help cover your financial losses when things go wrong. A local independent insurance agent can help you find the cabinet installation insurance coverage that meets your needs and budget.
Why Do You Need Cabinet Installation Company Insurance?
Cabinet installation companies face the potential for losses in the form of:
- Property losses due to theft, vandalism, fire, smoke, or severe weather
- Business interruptions and lost income due to property losses
- Employee illness, injury, or death
- Negligence claims and lawsuits
Cabinet installation company insurance helps you mitigate the costs related to these and other kinds of losses.
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What Does General Liability Insurance Cover?
You need general liability insurance for occasions when your business is negligent and causes bodily injury or property damage to a third party. This could mean a customer gets injured while visiting your showroom or shop, or that you damage a home while you’re installing the cabinets.
Commercial general liability (CGL) insurance protects you if someone sues you for negligence. It covers damages for the injured party (e.g., property repairs, medical bills). It also covers your attorney fees and court costs, as well as financial settlements or court-ordered judgments up to the limits of your policy.
What Other Kinds of Liability Insurance Do You Need?
If you own trucks or other vehicles, commercial auto insurance covers your owned vehicles and drivers if an accident or other vehicle damage occurs. Commercial auto insurance provides coverage for property damage and bodily injury liability claims, vehicle damage, and medical bills, as well as any costs related to lawsuits due to auto accidents involving your vehicles.
You may want to talk to your independent insurance agent about your need for commercial umbrella insurance. It provides an extra layer of liability protection to any of several other liability policies you might have. Commercial umbrella insurance kicks in when the limits of your other applicable insurance policies have been exhausted, protecting you if a claim exceeds the amount of coverage available from any other applicable policy.
What Does Commercial Property Insurance Cover?
Cabinet installation companies also need to protect their valuable property and equipment with various forms of property insurance.
The most basic is commercial property insurance. It covers your office space, warehouse, showroom, shop, or other buildings and their contents for losses due to fire, theft, vandalism, weather events, and other unexpected events.
Commercial property policies also typically include business interruption coverage. It reimburses you for lost income and helps pay for certain ongoing expenses if you are temporarily unable to operate due to a covered property loss.
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How Can You Cover Your Tools and Equipment at a Job Site?
Cabinet installation companies are likely to need to cover tools and equipment when they are away from the primary business premises. You may need the following to supplement your commercial property insurance:
- Inland marine insurance protects your equipment, tools, portable computer equipment, and other supplies from theft, loss, or damage while they are in transit to and from worksites, such as in your work trucks. It is especially important if you store your tools and equipment in your truck or another vehicle.
- Builders risk insurance is often included in an inland marine insurance policy. It provides coverage for damage, theft, or loss of tools and equipment at a worksite, as well as for structures that are under construction that are damaged by fire, wind, hail, or other covered perils.
- An installation floater protects materials that are left at a job site to be installed but get damaged before you can do it.
- A tools and equipment floater can normally be added to your property damage coverage. It covers any leased or owned specialized tools and equipment for your business while they’re stored on the construction site. It can offer coverage for tools like hand tools, power tools, contractors’ gear (hard hats, goggles, etc.), and more.
Talk to an independent insurance agent to determine whether you need these types of coverage.
How to Protect Your Cabinet Installers with Workers’ Compensation Insurance
Keeping your employees safe from work-related injuries and illnesses is important for their long-term health and satisfaction, as well as your company’s financial viability. Excessive employee injuries and illnesses can be financially devastating for your business.
Workers’ compensation insurance provides coverage when accidents happen in the workplace. It ensures that the injured worker gets medical care and income protection while unable to work.
Workers’ compensation insurance provides benefits to injured workers regardless of who is at fault for their injury. And it will provide death benefits for a worker’s dependents if there is a fatality.
A Note about Contractors Bonds
You may need a variety of contractors bonds, or surety bonds, for every project. Contractors bonds are often essential for finding, securing, and performing work for many types of construction projects that you might work on. They may be required by a project owner in order for your bid to be accepted, and they typically guarantee some aspect of the bidding process and the contract.
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How Much Does Cabinet Installation Company Insurance Cost?
Business insurance costs depend on the size of your business, the number of employees you have, and the value of your commercial property.
Other factors come into play, as well. The types and amounts of coverage you need to adequately cover your risks will dictate the cost of your cabinet installation company insurance.
Benefits of an Independent Insurance Agent
An independent insurance agent who has experience working with cabinet installation companies and other similar businesses can help you decide the types and amounts of coverage that you need for your business. The choices you make will determine your cost of coverage.
Independent agents can work with numerous reputable insurance companies that specialize in your type of business. Together you can review a variety of proposals and choose the best mix of coverage that meets your needs and budget.
What’s more, your agent will be there for you when claim time comes. They know the ins and outs of the process and will make sure your claim is handled appropriately.
Find and Compare Quotes for Cabinet Installation Company Insurance
Instead of getting an online quote, find an independent insurance agent now, and get one-on-one consultation and affordable options for the best coverage for your unique needs.
Your agent will work with you free of charge to get quotes from multiple insurance companies so you can make the best choice.