The One Man Show I'm A Sole Proprietor And They Are Making Me Buy Workers Compensation Carpentry Contractor With Employees
What do insurance companies call a carpentry contactor?
Generally, carpentry contractors are artisan tradespersons that work with wood or wood-based products to construct or repair buildings. So, if you are a one man show, just starting out, or are now semi-retired and doing the work to keep you mind and body active, we have solutions for you. Perhaps you have been in business for a few years and have collected some great employees, we can help you as well. We’ve been finding insurance solutions for contractors that are involved in minor renovations up to building whole homes. Light commercial construction is also usually fine. Carpenters do a lot of different things while building a home or remodel. The types of work you do in classes or work other than carpentry (framing, building, remodeling) may influence your premium.
If you do a lot of several different types of jobs, you may be classified as a handyman contractor. Many times, contractors with a specialty will need to purchase a policy with that class of work in mind, such as air conditioning and heating, appliance installation service and repair, chimney cleaning, floor covering installation, glass work (glazing), masonry, plumbing, tile or stone, etc.
Great News! We have found insurers will write an insurance policy for contractors that do roofing jobs. How much does Carpentry Contractor’s insurance cost? If you are only concerned with liability coverage in upstate New York State and you are a one-person operation, we may be able to find you an insurance policy for less than $1,000. There is likely not enough coverage for most businesses at this minimal coverage. For specific information on policies that fit your needs please contact us at 607-843-8860 or email insurance@drickardinsurance.com.
Carpentry Contractors often need:
- Commercial General Liability
- Completed Products Liability
- Tools Coverage
- Customer’s Property Coverage
- Advertising Liability
- Business Auto
- Cyber Crime
- Workers Compensation
- NYS DBL/PFL
- And More
Hint: The longer you have been in business and insured the better opportunity you have for the best insurance pricing. So keep your insurance even during your off-season. The One Man Show, The Carpenter
What insurance is available for a one-person carpentry business? If the work is being done in a residential setting, Commercial General Liability policies that will allow a variety of additional coverage options. The options include tools, property of others, and a variety of liability coverage that you may need. We strongly encourage you to get more than the smallest policy you can find for many the reasons we are happy to discuss with you at insurance@drickardinsurance.com or 607-843-8860. Please be mindful, if you have a helper you will need the mandatory employment insurances required by New York State.
Note: Your helpers and "independent contractors" may be considered employees by law. NYS has specific rules for what is an employee and what is an independent contractor, see the independent contractor dropdown on this page. If the helper, independent, sub-contractor that works for you does not have their own insurance you may need to cover them under your general liability, workers compensation and NYS DBL/PFL policies. Sole Proprietor With No Employees That Need Workers Compensation
In addition to the Commercial Package Policies discussed earlier, one man operations are being forced to buy a workers compensation policy. We can arrange coverage for a sole proprietor who does all of the work himself with, no employees or helpers, to acquire "if any" Workers Compensation (WC) policy that the owner excludes himself on. (We don't think a workers compensation policy that excludes the owner is in his best interests.) The total cost of the WC package has been in the $4,000 a year area. Actual premiums depend upon coverage specific case by case underwriting. We are happy to discuss with you at insurance@drickardinsurance.com or 607-843-8860.
General Eligibility Rules
- No More than 5 employees including the owner(s)
- Primarily Residential Work - Commercial work considered on a case by case basis
- The more experience in class the better price eligibility
- $1,500,000 Gross Receipts or less
- Less than 35% of work subcontracted to others
- No General Contractors
- No work done outside of New York State
Carpenter With Employees
We can help established carpentry contractors with employees that qualify under all of the stipulations listed above. Come to us for the Commercial General Liability, Business Property, Commercial Auto, Workers Compensation, and NYS DBL/PFL insurance. Based on your needs we will work together to select insurers among the many companies we work with. Contact us so we can custom design an insurance package for this need at insurance@drickardinsurance.com or 607-843-8860.
Note: Not all options are available from every insurer.