Welding and Fabrication Insurance Must-Haves
For any welding and fabrication company, insurance is a must-have. Every business needs protection, especially in the welding industry. Here are some of the welding and fabrication insurance coverages that every welder needs.
Liability Coverage
Liability lawsuits are often expensive. Most businesses make sure to have liability coverage, including welders. Here are some of the coverages to look at:
- Umbrella insurance
- Commercial auto insurance
- Commercial general liability insurance
When shopping for insurance, it’s best to ask your agent what would work best for your business.
Workers’ Compensation
Welders can end up injured on the job in a multitude of different ways. This is why it’s particularly important that you have workers’ compensation. This covers medical treatment, lost wages and even benefits to the family in the case of death.
Property Coverage
Equipment costs a lot of money. As much as you invest in your equipment, you need the right insurance coverage to protect it. Here are different types of coverages that you should look at:
- Equipment breakdown
- Personal property
- Employee dishonesty
- Marine coverage
Insurance coverage is there to protect your business’s investments. Without insurance, you could lose money and difficult to replace equipment.
For welding and fabrication insurance, it’s crucial that you meet with an agency that understands the ins and outs of your industry. This will guarantee comprehensive coverage.
