Deck Builders Insurance Florida Policy Information
Deck Builders Insurance Florida. Exterior carpentry includes framing work, such as structural support for a new building or building decks. Do you design and install custom decks for a living? If so, then you need to take the proper precautions to protect yourself and your business from potential issues that could arise.
A single error or an unexpected event could result in serious damages that could ultimately lead to serious - and costly - repercussions.
Safeguard yourself from the unexpected; invest in deck builders insurance Florida.
Why is business insurance important for FL deck builders? What type of coverage should deck builders carry? Below, you'll find the answers to these questions so you can keep your livelihood - and yourself - protected from the unthinkable.
Deck builders insurance Florida 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 Insurance Important For Deck Builders?
Like any other business owner in any other industry, as a FL custom deck builder, you face a variety of risks. A nail gun could malfunction, backfire, and seriously injure a technician while he or she is installing a deck. A wood supplier could trip and fall while making a delivery to your warehouse. A client could file a lawsuit against you, claiming that you damaged their home while installing a deck. Your warehouse could be engulfed by fire. These are just a few examples of the risks that you face.
As the owner and operator of your business, you are liable for any mishaps that occur. The cost of medical bills or repairs to damaged property can be exorbitant; tens of thousands of dollars, if not more! Could you afford these expenses on your own? If you're like most business owners, you probably can't; but, even if you could, there's no doubt you'd suffer major losses.
To avoid the financial burden that's associated with errors and accidents that you're responsible for, you need to have the right type of deck builders insurance Florida.
When something unexpected arises, instead of paying the expenses yourself, your insurance provider will cover the costs for you. Plus, you're legally required to carry certain types of coverage; if you operate without mandated policies, you could face serious fines and potentially lose your business.
What Type Of Insurance Do Deck Builders Need?
The type of commercial insurance FL custom deck builders require varies and depends on several factors; where your business is located and the size of your operation, for example. That being said, there are certain deck builders insurance Florida policies that every exterior carpentry contractor should have, regardless of the specifics of their business. Examples of required policies include:
- Commercial General Liability - What if a client filed a lawsuit against you, claiming that you or a worker damaged their property? What if a delivery person trips over an unmarked pile of wood at your commercial space and suffers an injury? With commercial liability insurance, these types of events would be covered.
- Commercial Property - This policy is designed to protect the physical structure of your commercial space, structures that surround it (sidewalks, signage, etc.), and the contents within your warehouse or office from acts of nature and vandalism. For instance, if a fire breaks out and damages your building and supplies inside, commercial property insurance would cover the cost of things that need to be repaired or replaced.
- 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 a custom deck, 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 comp covers these expenses for you.
- Inland Marine - You probably rely on a lot of equipment to install the decks you build, and this equipment likely has a pretty high price tag. With business equipment insurance, you won't have to pay for any repairs that machinery and tools require; your insurance carrier will cover the repairs for you.
- Commercial Auto - Even if you have your own personal auto insurance, it won't protect you if there's an accident involving a work van or truck; for that, you'll need commercial auto policy. This type of coverage will pay for the damages that your commercial vehicles sustain in an accident, as well as other vehicles that may be involved in an accident with your commercial vehicle.
These are just a few examples of some of the deck builders insurance Florida policies you'll want to invest in as a custom deck builder. You might need additional coverage, too.
Florida Deck Builders' Risks & Exposures
Property exposures at the deck builders' own location are usually limited to an office and storage of materials, equipment, and vehicles. If the deck builders 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 deck builders' 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 deck builders 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 deck builders. 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.
Deck Builder Insurance - The Bottom Line
To make sure that you are properly covered, consult with a reputable broker that specializes in commercial insurance. You'll be able to find out what type of deck builders insurance Florida policies would be in your best interest to invest in, as well as the limits on any policies you carry.
Florida Economic Data And Commercial Insurance Requirements
If you are thinking about starting up a business in the state of Florida, it's important to understand the economic standing of the state before you set up shop. Furthermore, you should understand the rules and regulations regarding FL commercial insurance.
With this information, you will be able to determine if Florida is the right place for your business, and if so, what type of insurance you will need to carry to protect yourself, your employees, and the people that you serve.
Economic Trends For Businesses In FL
Florida is known as the sunshine state, and the economic outlook for this state is just as bright as the weather. It is estimated that the economy in Florida will reach $1 trillion by the end of the 2022 calendar year. However, while financially, the economy is expected to boom, it is forecasted that job growth will decline.
The reason for the economic boom? While businesses do certainly contribute to the economy, industry isn't the reason why Florida's economy is expected to soar; the residents that move to the state are largely responsible for its economic growth. Approximately 898 people move to Florida every day, and those new residents bring a tremendous amount of income for the state.
In terms of job growth, the rate of new jobs has been its highest since 2007; however, it is forecasted to slow during 2018. Approximately 180,000 new jobs will be added in 2018, which is slightly less than the new jobs that were added in 2017.
The industries that contribute the most to Florida's economy include:
- Aviation & Aerospace
- Financial Services
- International Trade
- Life Sciences
Commercial Insurance: Regulations & Limits In Florida
The Florida Office of Insurance Regulation regulates insurance in FL. The only type of coverage that business owners must carry is workers' compensation. Organizations in any industry must carry this type of coverage if they employ a staff of hourly or salaried workers. But, organizations that employ three or less people are not legally required to carry this type of coverage.
Business owners are also required to carry commercial auto insurance if they use any vehicles for their operations, such as making deliveries or transporting goods. Commercial liability insurance is another type of coverage that Florida business owners should consider carrying, though they are not legally required to have this type of 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 Deck Builders Insurance Florida quote in Altamonte Springs, Apopka, Aventura, Boca Raton, Bonita Springs, Boynton Beach, Bradenton, Cape Coral, Casselberry, Clearwater, Clermont, Coconut Creek, Cooper City, Coral Gables, Coral Springs, Crestview, Cutler Bay, Dania Beach, Davie, Daytona Beach, DeLand, Deerfield Beach, Delray Beach, Deltona, Doral, Dunedin, Edgewater, Fort Lauderdale, Fort Myers, Fort Pierce, Gainesville, Greenacres, Haines City, Hallandale Beach, Hialeah Gardens, Hialeah, Hollywood, Homestead, Jacksonville Beach, Jacksonville, Jupiter, Key West, Kissimmee, Lake Worth, Lakeland, Largo, Lauderdale Lakes, Lauderhill, Leesburg, Margate, Melbourne, Miami, Miami Beach, Miami Gardens, Miami Lakes, Miramar, New Smyrna Beach, North Lauderdale, North Miami Beach, North Miami, North Port, Oakland Park, Ocala, Ocoee, Orlando, Ormond Beach, Oviedo, Palm Bay, Palm Beach Gardens, Palm Coast, Palmetto Bay, Panama City, Parkland, Pembroke Pines, Pensacola, Pinellas Park, Plant City, Plantation, Pompano Beach, Port Orange, Port St. Lucie, Riviera Beach, Rockledge, Royal Palm Beach, Sanford, Sarasota, Sebastian, St. Cloud, St. Petersburg, Sunny Isles Beach, Sunrise, Tallahassee, Tamarac, Tampa, Tarpon Springs, Temple Terrace, Titusville, Venice, Wellington, West Palm Beach, Weston, Winter Garden, Winter Haven, Winter Park, Winter Springs and all other FL cities & Florida counties near me in The Sunshine State.
Also find FL local small businesses by General Liability Class Code and learn about Florida small business insurance requirements for general liability, business property, commercial auto & workers compensation including FL business insurance costs. Call us (954) 399-3996.