Stucco & Plastering Contractors Insurance

Vehicular accidents, plaster accidentally tracked onto a client’s antique rug, and other work-related accidents are some of the bigger risks that stucco and plastering contractors face at client project sites on a daily basis.

Having stucco and plastering contractors insurance in place can safeguard you, your employees, and your business from financial losses arising from unfortunate events and accidents.

Stucco and plastering contractors mix cement, set up scaffolds, and renovate commercial and residential buildings for work, which puts them, and all the people around them at a high risk of bodily injuries and other accidents that can harm their health and wellbeing.

For instance, a client can get injured while visiting a job site, or damage to property may occur while doing renovations. In such cases, having a stucco and plastering insurance policy will cover the costs of medical bills, claims, and lawsuits that may arise.

In some situations, contractors’ tools and equipment get stolen or damaged while moving between job sites. An insurance policy can help pay for the replacement or the cost of the lost, stolen, or damaged tools.

In other cases, stucco and plastering contractors simply need to have a certain level of coverage by law in order to be allowed to legally trade within their state.

There are numerous insurance policies available for stucco and plastering contractors. The level of cover will depend on various factors, such as the location of your business, the clients you deal with, the number of employees and company cars you have, and more.

Below, you can explore some of the most highly recommended insurance policies for stucco and plastering contractors.

The costs of insurance will depend on many factors, such as the type of services your business offers, the state your business operates out of, the number of employees you have, and more.

On average, general liability insurance for stucco and plastering contractors costs $70 per month, totaling $825 per year. This insurance policy will protect your business against third-party injuries, property damage, and other lawsuits.

If your business has employees, you can expect to pay $275 per month on workers’ compensation insurance, totaling $3,295 per year. This policy can cover any hospital-related expenses of your employees, and some of the wages lost while recovering from work-related injuries.

If you have company cars, you can expect to pay a premium of nearly $150 per month, or an average of $1,830 per year, for commercial auto insurance. This insurance policy provides a level of protection for vehicular-related risks, such as vandalism, theft, and medical bills in the event of a car accident.

Stucco and plastering contractors can expect to pay about $15 per month, totaling $175 per year, for contractor’s tools and equipment insurance. This policy protects the contractor’s equipment and tools in case they get damaged, stolen, or lost.

And finally, should you need professional and liability insurance, you can expect to pay a premium of $85 per month, totaling $1,000 per year. This policy - also known as errors and omissions insurance (E&O) - offers protection for contractors that relate to attorney fees or other legal fees associated with professional mistakes, negligence, and more.

As with any profession, stucco and plastering contractors also encounter numerous risks while at work.

Generally speaking, stucco and plastering contractors make insurance claims related to client property damage, vehicular accidents, bodily injuries, and replacements for lost or stolen tools and equipment.

Whatever the accident at hand may be, having the appropriate insurance policy in place will protect your business from financial losses arising from risks and hazards at work.