Flooring Installation Insurance

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Floor installation contractors are often at risk of falling and slipping and injuring themselves or damaging their customer's property using the machinery and equipment required for the job.

To protect your flooring installation contracting business, it's always a good idea to take out a floor installation insurance policy. This will cover your business against any financial liability and risks that your company may be exposed to on a daily basis.

Why Do Flooring Installation Contractors Need Insurance?

Flooring installation contractors need insurance for a number of reasons. One of the most important reasons is that they need to be protected from liabilities that may arise from the work that they do.

Accidents can happen during flooring installation, and if the contractor is not insured, they may be held liable for the damages that occur. While some contractors try to find ways around this, the only way to truly protect yourself is through flooring installer insurance.

Another reason that flooring installation contractors need insurance is because these accidents can be very costly. For example, if someone trips on a newly installed piece of hardwood flooring and breaks their leg, they may file a lawsuit against the contractor.
So, it's always best to have insurance in place for every risk that your business is exposed to.

What Types of Insurance Do Flooring Installation Contractors Need?

There are a few different types of insurance that flooring installation contractors need. The level of coverage you need to take out will depend on the type of flooring you deal with, your clients, size of business, whether or not you have any employees or company vehicles, the state you work in, and more.

For a more detailed breakdown of the most recommended flooring installation insurance policies for flooring contractors, please take a look below.

How Much Does Flooring Installation Contractor Insurance Cost?

The cost of floor installation insurance will vary from state to state. Besides that, the final cost of your insurance will be determined by the level of cover you take out.

For the above-mentioned insurance policies, you can expect to pay between:

  • $600 and $1,200 for general liability insurance per year
  • $1,000 and $4,000 on worker's compensation insurance annually
  • $1,000 and $2,000 annually on commercial auto insurance
  • $100 and $160 on contractor's tools and equipment insurance per year
  • $300 and $500 for professional fee insurance per year

Typical Flooring Installation Contractor Insurance Claims

Injuries and accidents are common for those who work as flooring installation contractors. The most insurance claims flooring installation contractors typically make include:

  • Slip and fall accidents
  • Injury from machinery or tools
  • Damage to property or materials

In more rare cases, flooring installation contractors can also get into road accidents or come across a customer that is refusing to pay for the job.

This is why it's important to take a look at the risks that your business is associated with on a daily basis and get it covered from all angles.

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