Cabinet Installer Insurance Michigan Policy Information
Cabinet Installer Insurance Michigan. Kitchens, bathrooms, garages, offices; cabinets are found in virtually every residential and commercial property. This built-in furniture provides vital storage space for things like dishes, cutlery, books, clothing, toiletries, medical supplies, documents, and so much more.
Because cabinets are such an important piece of furniture, as an MI cabinet installer, your services are in high demand. Though you make every attempt to ensure that everything goes as smoothly as possible with each and every job you do, you never know when the unexpected is going to arise. To protect yourself from the unexpected, you need to invest in the right type of cabinet installer insurance Michigan.
Interior carpenters perform remodeling, repair, finishing or refinishing. Interior carpentry consists of either rough or finish work. Cabinet installation is finish work involves making or installing cabinets, shelving or other built-ins.
Cabinet installer insurance Michigan protects your carpentry business from lawsuits with rates as low as $47/mo. Get a fast quote and your certificate of insurance now.
Why Is Commercial Insurance Is Important For Cabinet Installers?
As a cabinet installer, you face numerous risks on a daily basis. Every time you install a product, you put yourself in a vulnerable position, as do any crew members that assist you. Not only could injuries occur, but there's a chance that a client's property could be damaged. There's also a chance that clients or vendors could suffer an injury on your commercial property, an accident could occur with one of your work vans or trucks, or your warehouse could be damaged in a fire or an act of vandalism.
The above are just a few examples of unexpected events that could arise. The cost of paying for any damages, repairs, or medical bills that may be required can be extensive; not to mention the expense of litigation should a third party file a lawsuit against you. Having to pay these expenses out of your own pocket has the real potential to put you in financial ruin.
That's where insurance comes in; if you're properly insured with the right type of commercial coverage, instead of paying expenses that are associated with the unexpected yourself, your insurance carrier will cover the costs for you.
In other words, cabinet installer insurance Michigan can protect you from financial ruin. Not to mention the fact that you're legally required to have certain types of coverage.
What Type Of Insurance Do Cabinet Installers Need?
There are several types of cabinet installer insurance Michigan carpenters should carry; however, the exact type you'll need depends on the specifics of your operation. For example, the size of your business and where you are located will affect what coverage you need. However, there are certain types of commercial policies that all MI cabinet installers should have in place, regardless of the specifics of their business. Examples of must-have coverages include:
- Commercial General Liability - No matter where you're located, you'll should carry commercial general liability insurance. This type of coverage safeguards you from third-party injury and property damage liability claims. For instance, should a client sue you, claiming that you or a member of your team damaged their property, commercial general liability would cover litigation expenses, as well as any damages you may be required to pay.
- Commercial Property - To protect your commercial space, you'll need this type of coverage. It protects the physical structure of your warehouse, shop, or office, as well as surrounding structures and the contents inside from things like fire, theft, and vandalism. Your policy will cover the cost of any necessary repairs or replacements if your commercial space or contents are damaged.
- Workers' Compensation - If you employ a staff, you'll also have to invest in worker' compensation insurance. This coverage is designed to protect employees from work-related injuries and illnesses. For example, if a worker sustains an injury while installing cabinet at a client's location, that would be considered work-related injury and you would be responsible for paying any associated medical bills. You would also have to cover any wages the employee might lose while recovering. Workers' compensation covers these expenses for you.
- Commercial Auto - If a work van or truck is involved in an accident while delivering cabinets to a MI job site, your personal auto insurance wouldn't cover the damages. For that, you'll need business auto insurance. This policy assists with paying for any repairs that your vehicle or other vehicles involved in an accident with a commercial car, truck, or van sustain.
Michigan Cabinet Installer's Risks & Exposures
Property exposures at the cabinet installer's own location are usually limited to an office and storage of materials, equipment, and vehicles. If the cabinet installer does shop woodworking, fire can result from the flammability of wood, paints, varnishes, and wood dust. There should be adequate ventilation and a dust collection system.
Flammable varnishes and glues should be properly labeled, separated, and stored away from combustibles. Some carpenters store lumber in their yards, increasing the potential for fire loss. Three-sided storage structures are highly susceptible to wind damage.
Premises liability exposures at the cabinet installer's shop or office are generally limited due to lack of public access. Fires or fumes from woodworking and/or lumber storage operations can spread to neighboring businesses or homes. Outdoor storage may create vandalism and attractive nuisance hazards. Off-site exposures are extensive. Jobsite operations include the potential for bodily injury to the public or employees of other contractors, or damage to their property or completed work.
Tools, power cords, building materials and scrap all pose trip hazards even when not in use. The use of saws and other power or hand tools is inherently hazardous due to sharp edges and moving parts. In enclosed buildings, the buildup of dust and scraps can result in catastrophic fire and explosion. Disposal of waste materials (dust, scrap, varnishes or paints) could create environmental hazards. There may be significant subcontractor and contractual liability exposures.
Completed operations liability exposures are high if the carpenter provides the structural framework of a building due to the potential for collapse. Quality control and full compliance with all construction, material, and design specifications are necessary. Inadequate monitoring of work orders and change orders may be a concern. Poor record-keeping may necessitate payment of otherwise questionable claims. Inspection and written acceptance of the work by the owner or general contractor is critical.
Workers compensation exposures vary based on the size and nature of the job. Work with hand tools and sharp objects such as saws, chisels and nails can result in cuts, piercings, and accidental amputation. Back injuries, hernias, strains, and sprains can result from lifting. Minor injuries may be frequent even when the severity exposure is controlled. When work is done on ladders and scaffolds, there is a potential for severe injury or death from falling, being struck by falling objects, or adverse weather conditions.
The absence of good maintenance of scaffolds, proper use of basic safety equipment, such as properly installed guards, steel-toed shoes, and eye protection, and strict enforcement of safety practices may indicate a morale hazard. Employees must be carefully selected, trained and supervised. Occupational disease exposures can result from exposure to noise, dust, and chemicals, such as from pressure-treated lumber.
Inland marine exposures include accounts receivable if the cabinet installer offers credit to customers, contractors' equipment for owned or rented tools and equipment, goods in transit, installation floater, and valuable papers and records for customers' and suppliers' information. Equipment at a jobsite can be damaged by drops from heights, weather damage, or being struck by vehicles. Equipment and supplies left at jobsites are subject to theft and vandalism.
Lumber or woodwork can be damaged during transport from shifting, improper loading or inadequate tie down. Oversized loads can be damaged by collision with stationary structures or other vehicles.
Crime exposures are from employee dishonesty. Background checks, including criminal history, should be performed on all employees providing services to customers or handling money. All ordering, billing and disbursement should be handled as separate duties with reconciliations occurring regularly.
Business auto exposures are limited unless lumber and pre-made items are transported by the cabinet installer. MVRs must be run on a regular basis. Random drug and alcohol testing should be conducted. Vehicles must be well maintained with records kept in a central location. Hazards of transport include failure to secure the load properly and equipment failure, especially tie-downs and hitches. If oversized items are transported, vehicles must be clearly marked.
Cabinet Installation Insurance - The Bottom Line
To find out if you need additional types of cabinet installer insurance Michigan and how much coverage you should carry for each policy, speak with an broker that has experience with business insurance for carpenters.
Michigan Economic Data And Business Insurance Requirements
Business owners who are interested in establishing operations Michigan must have a thorough understanding of the state's economy. They should also familiarize themselves with any regulations and limits that state may have in place for commercial insurance.
Any entrepreneur who is thinking about starting a business in the Great Lake State first needs to determine if it's a feasible location for business operations. As such, it's important to have a keen understanding of pertinent details regarding the economy of Michigan, in addition to the types of insurance coverage that are mandatory for corporations that operate within the state.
Economic Trends for Businesses In Michigan
After a long period of stagnant job growth in the early part of the 21st century, MI has been experiencing a steady increase in employment gains. Between 2009 and 2018, the state has enjoyed a period of uninterrupted job growth; the longest stretch of job growth since World War II. According to economists at the University of Michigan. While there has been a slight decline in the rate of job growth, job creation continues and forecasters say will continue for the next two years, into 2021.
In 2018, an estimated 55,200 jobs were created; in 2019, it's expected that 35,800 jobs will be created, and in 2020, economists believe that there will be a total of 39,300 jobs created in Michigan. While that rate of growth is 1.9 percent slower than the job growth rate between 2011 and 2016, it is still a steady increase overall. In total, approximate 683,200 jobs will be created in MI between 2099 and 2020; almost four out of the five jobs that were lost during the early part of the 21st century will be recovered.
While the unemployment rate has steadily improved, it is still above the national average. In March of 2019, the national unemployment rate was 3.8 percent, while in the state of Michigan, it was 4.0 percent. Mid-Michigan has experienced the largest growth rate in the state, and according to forecasters, it looks like that trend will continue, moving forward. Industries that are expected to see the most growth include:
- Energy, due largely to research and development in clean energy
- Food and agriculture
- Transportation and mobility
- Healthcare industry
- Information and technology
In the state of MI, business owners are not legally required to carry liability insurance; but most entrepreneurs opt to invest in a General Liability or Business Owner's Policy (BOP). A commercial auto insurance policy is also required for any businesses that use motor vehicles to conduct any aspect of their business operations. Workers' compensation insurance is also required for any businesses with non-owner employees. While the following forms of coverage are not required, depending on the type of business you operate, they are recommended:
- Data breach insurance
- Business income insurance
- Commercial Umbrella insurance
Additional Resources For Contractors & Home Improvement Insurance
Learn about small business contractor's insurance, including what it covers, how much it costs - and how commercial insurance can help protect your contracting business from lawsuits.
- Air Conditioning Systems Installation Repair
- Appliance Repair & Service
- Blacksmith & Metal Workers
- Boat Repair & Dry Docks
- Boiler Contractors
- Builders Risk
- Building Cleaning & Maintenance Services
- Cabinet Installer
- Cable And Satellite TV Installer
- Chimney Sweep
- Cistern Contractors
- Contractor Liability
- Curtain Cleaners
- Deck Builders
- Door And Window Installers
- Dryer Vent Cleaning
- Drywall Contractor
- Electrical Contractors
- Environmental Remediation Contractors
- Fence Installation
- Fire Sprinkler Contractors
- Fire & Water Restoration Contractors
- Flooring Contractor
- Furniture Repair
- Garage Door Installer And Repair
- General Contractors
- Glass Contractor
- Glazier Insurance
- Gutter Installation And Repair
- House Cleaning
- HVAC Contractor
- Insulation Contractor
- Janitorial Cleaning Services
- Lawn Care
- Lawn Irrigation Sprinkler System Installation
- Oil And Gas Well Drilling Contractors
- Paperhanging Contractors
- Plastering And Stucco Contractor
- Pressure Washing Contractors
- Propane And Fuel Dealers
- Rug, Upholstery & Carpet Cleaning
- Sandblasting Contractors
- Security Alarm
- Septic Tank Cleaning
- Siding Contractor
- Sign Installation & Repair
- Solar Panel Installers
- Snow Plow
- Stone And Tile Installer
- Surety Bonds
- Swimming Pool Contractor
- Swimming Pool Service And Maintenance
- Tool Grinding And Repair
- Tree Surgeon
- Tree Trimming
- Tank Cleaners
- Upholstery Shop
- Waste Haulers & Garbage Collection
- Water Well Drilling
- Welding Contractor
- Wildlife & Pest Control
- Window Cleaning
A contractor that wants to begin or stay in business, liability coverage must be obtained for the premises or operations, off-site locations and products/completed operations exposures. These coverages may be included as a part of a businessowners policy (BOP) or purchased in a commercial general liability (CGL) policy. Owners and contractors protective liability and railroad protective liability coverages may also be required in certain cases in order for a contractor to obtain a particular job.
Physical damage coverage for tools, supplies and equipment, both on and off the contractor's premises, is a concern. Liability exposures at the premises of the contractor, and at the premises of the contractor's customer, must be properly addressed along with completed operations. Business insurance is very important as is workers compensation insurance protection for employees.
Contractors may work under a general contractor as a subcontractor in larger construction projects - like a new commercial site or residential subdivision. They can work on smaller projects directly with a home owner, usually specializing in renovations or remodels.
In business insurance speak, often called 'artisan contractors' or 'casual contractors', they are involved in many aspects of construction and contracting work – and include various trades and skills. Carpenters, painters, plumbers, electricians, roofers, tree trimmers, landscaping are just a few examples. They may do roofing, fencing, drywall, tile work and many other trades that involve skilled work with tools at the customer's premises.
An artisan contractor performs a single trade or job, and each has its own specialized liability needs with its own exposures to risk and accidents. Contractors liability insurance can offer coverage for bodily injury, property damage, advertising injury and medical payments.
Most artisan contractors should have commercial general liability at the very least, but many need broader coverages - like an umbrella to increase their limits of liability, inland marine policy to protect their tools, workers compensation if they have employees, and even commercial auto if they use vehicles for business purposes.
Minimum recommended small business insurance coverage: Business Personal Property, Employee Dishonesty, Contractors' Equipment and Tools, General Liability, Employee Benefits Liability, Umbrella Liability, Automobile Liability and Physical Damage, Hired and Non-owned Auto & Workers Compensation.
Other commercial insurance policies to consider: Building, Business Income with Extra Expense, Earthquake, Flood, Leasehold Interest, Real Property Legal Liability, Accounts Receivable, Builders Risk, Computers, Goods in Transit, Installation Floater, Valuable Papers and Records, Cyber Liability, Employment-related Practicesand Stop Gap Liability.
Request a free Cabinet Installer Insurance Michigan quote in Adrian, Allen Park, Allendale, Ann Arbor, Auburn Hills, Battle Creek, Bay City, Berkley, Beverly Hills, Big Rapids, Birmingham, Burton, Cadillac, Clawson, Coldwater, Cutlerville, Dearborn, Dearborn Heights, Detroit, East Grand Rapids, East Lansing, Eastpointe, Escanaba, Farmington, Farmington Hills, Fenton, Ferndale, Flint, Forest Hills, Fraser, Garden City, Grand Haven, Grand Rapids, Grandville, Grosse Pointe Park, Grosse Pointe Woods, Hamtramck, Harper Woods, Haslett, Hazel Park, Highland Park, Holland, Holt, Inkster, Ionia, Jackson, Jenison, Kalamazoo, Kentwood, Lansing, Lincoln Park, Livonia, Madison Heights, Marquette, Melvindale, Midland, Monroe, Mount Clemens, Mount Pleasant, Muskegon, Muskegon Heights, New Baltimore, Niles, Northview, Norton Shores, Novi, Oak Park, Okemos, Owosso, Pontiac, Port Huron, Portage, Riverview, Rochester, Rochester Hills, Romulus, Roseville, Royal Oak, Saginaw, Sault Ste. Marie, South Lyon, Southfield, Southgate, St. Clair Shores, Sterling Heights, Sturgis, Taylor, Traverse City, Trenton, Troy, Walker, Warren, Waverly, Wayne, Westland, Wixom, Woodhaven, Wyandotte, Wyoming, Ypsilanti and all other MI cities & Michigan counties near me in The Great Lakes State.
Also find Michigan insurance agents & brokers and learn about Michigan small business insurance requirements for general liability, business property, commercial auto & workers compensation including MI business insurance costs. Call us (313) 344-7177.