April 30th, 2017
You’ve always been one to tackle hands-on projects, and now you’re putting your skills to work as a welder. As humans build increasingly advanced machines and structures, welders are on the front lines fusing the very infrastructure that holds it all together.
It can be a rewarding profession, but it’s not without its risks. Any time you’re working with complicated equipment, high temperatures, and unfamiliar job sites, it’s wise to prepare for all the possible outcomes. While 99 out of 100 jobs could go off without a hitch, even one misstep or accident could threaten your livelihood.
Here are five reasons why business insurance for welders is just as important as your trusty tools and safety gear.
You accidentally start a fire on a jobsite
Welding involves playing with fire—literally! Even with safety training, fire has proven time and time again to be an unpredictable force of nature. For example, a welder in Kansas sparked a blaze that destroyed a new, four-story apartment building and damaged more than 22 homes. Windy conditions contributed to the spread of the fire, as the Washington Times reports. Luckily nobody was injured or killed, but it just goes to show how quickly a fire-related accident can get out of hand.
A Commercial General Liability (CGL) insurance policy protects your welding operation against damages if you’re found liable for personal injury or property damage to others. If you or one of your employees has a mishap that ends up as a lawsuit, CGL can protect your company from financial ruin by paying the cost of legal expenses, others’ medical bills and damages.
Someone breaks into your workshop and steals your tools
Let’s say you arrive at your workspace on a normal weekday morning and notice your toolboxes and some of your electronics are missing. After the panic subsides, you have to figure out how to move forward.
You can’t weld on talent alone. You need your specialty gear by your side. In addition to theft, any number of unfortunate events could jeopardize your property: fire, wind damage, vandalism, a burst pipe and many more. Taking out a Business Owners Policy (BOP) that bundles general liability insurance with property insurance ensures that your equipment is protected in the event of covered events and that your business is covered against liability to third parties. You will likely want to include business interruption coverage to keep you afloat in the interim.
Your business-owned truck gets in an accident
Welding involves hopping between worksites. One day you might be working in the basement of a new restaurant, while the next you have to travel across town to complete automobile, infrastructural or residential work. Either way, you’ll have to get from point A to point B. If you get in an accident in your work truck or van, you could be on the hook for liability to others plus repairing your own set of wheels. That’s why it’s so important to take out the right commercial auto insurance policy.
A customer sues you, alleging shoddy quality
Before you complete a job, you sign a contract. A customer could allege that at any point that you didn’t fulfill your part of the contract, or that a pipe that you welded leaked a few days after the job was finished. No matter the outcome, you’ll need professional liability insurance to cover costs associated with defending yourself, plus paying for any settlement or damages. Whereas CGL covers random accidents, professional liability insurance covers work-related claims.
An employee suffers a burn on the job
Let’s say your apprentice suffers a severe burn and has to visit the hospital and miss a few weeks of work. As Chron points out, welding injuries are common, especially to sensitive areas like the eyes. You’re legally required to provide workers compensation coverage to employees to reimburse their medical bills and missed work from on-the-job injuries.
CoverHound is here to help you learn more about business insurance for welders. Compare policy quotes today!