Nevada Drywall Contractor Insurance Policy Information
Nevada Drywall Contractor Insurance. Drywall contractors install drywall, plaster, and wallboard to the interior walls and ceilings of residential and commercial buildings for decoration, insulation, waterproofing, soundproofing, or fireproofing the room or area. Exterior work may consist of applying stucco, cement or similar materials to decorate or finish the outside walls.
Drywall contractors are tradesmen who carry out a specific function (drywall hanging, installing studs in preparation of rock hanging, and ceiling installations for renovation and new work. Drywall contractors, like other specialty contractors, are exposed to many risks at the job site. Getting a comprehensive contractors insurance policy package is the first step in the quest to secure financial protection in the event of work-place accident.
Hanging drywall, taping, and then applying mud to-drywall is a skill learned over time, requiring training and experience. Drywall installers are almost always exposed to injuries that can lead to significant medical expenses as well as lost wages for employees in case an accident occurs. The smartest move a drywall contractor can make is to ensure they are properly protected with an-adequate Nevada drywall contractor insurance insurance policy.
Nevada drywall contractor insurance protects your business from lawsuits with rates as low as $47/mo. Get a fast quote and your certificate of insurance now.
Understanding The Basics Of Nevada Drywall Contractor Insurance
Protect your drywall contracting business from unexpected events and accidents with business insurance policy, so that you can juggle with your business and have less to worry about. A number of insurance companies have developed special insurance programs aimed at addressing the insurance needs of Drywall Contractors. Typically, the programs offer broad liability policy at low rates. They are available to smaller companies (with less than $5,000,000 in receipts). Bigger contracting companies are offered coverage under different terms.
What is NV Drywall Contractor Insurance
In your drywall contractor business, choosing the right equipment for the job is quite important. And so is protecting your venture with the right insurance coverage. Professionals in the construction industry face unique risks from a sector that is physically demanding and faced with numerous regulatory hurdles. Drywall contractor insurance is for those who install, remove, or repair drywall, plasterboard, sheetrock, and wallboard in residential and commercial spaces. Our insurance company understands the construction space inside and out, and you can therefore find insurance products tailored to your own specific drywall business needs.
What Types Of Drywall Contractor Insurance Are Available?
There are a wide variety of drywall contractor insurance options. Generally, a drywall contractor will need a number of different coverage policy parts or insurance covers to adequately cover the kinds of risk and exposure inherent to being a drywall contractor at their workplaces. Here are common insurance coverages for drywall contractors:
- General Liability Insurance: General liability for drywall contractors comprises of three areas of coverage: products liability, premises liability, and completed operations. If a customer visits your office and they happen to trip over a power tool set next to the door, their bodily injuries can be covered by premises liability. On the other hand, completed operations covers any damages owing to completed drywall-work, after the work is already done.
- Bond: A surety bond is a monetary guarantee to the licensing department of your state and your customer just in case you fail to complete a task according to your bid. It'll also typically be needed in order to receive a permit and license to operate in your state.
- Workers Comp: Workers compensation insurance pays for hospitals, doctors, prescription drugs, lost wages and other related medical or recovery costs if one of the employees gets injured on the job. Most states require require workers compensation for any non-owner or partner employees.
- Crime Insurance: This is an important policy for your business as it protects against crimes like vandalism, theft, and other fraudulent activity. Vandalized property, losses when services get paid with a stolen credit card, or stolen items are covered by crime insurance.
- Umbrella Policy: Liability insurance plan for drywall contracting businesses provides great coverage, but have limits, whether it is general liability or property insurance. This is business insurance coverage for worst case scenarios. In case your standard business insurance covers reach their maximum payout limits, then an umbrella policy can offer you with additional coverage.
NV Drywall Contracting Risks & Exposures
Premises liability exposures at the contractor's office are generally limited due to lack of public access. Off-site exposures include damage to the clients' other property by the contractor's employees, bodily injury to members of the household, the public or employees of other contractors. Tools, power cords, plastering materials and scrap all pose trip hazards even when not in use. If there is work at heights, falling tools or supplies may cause damage and injury if dropped from ladders and scaffolding. Contractors can damage customers' premises removing old ceiling and wall coverings.
Completed operations liability exposures depend on the type of plastering being done. If the plastering is for waterproofing or fireproofing, faulty installation can result in significant property damage, and in the case of fireproofing, loss of life. A growing concern is the installation of exterior insulation and finish systems (EIFS). This refers to a synthetic stucco with insulating properties that has recently been blamed for causing moisture and termite problems affecting the structural integrity of a residence. It is not clear whether the manufacturer or the installer has the greater liability.
Environmental impairment liability exposures arise from the removal, transport, and disposal of waste and old debris that has been removed from the job site. As some of these older materials may include lead-based paints or asbestos, proper disposal procedures must be in place. Transportation and disposal procedures must adhere to all EPA and other regulatory standards. Training and supervision of employees is critical.
Workers compensation exposure varies based on the size and nature of the job. When work is done on ladders and scaffolds, there is a potential for severe injury or death from falling or being struck by falling objects, or from severe weather during exterior operations. Drywall installation may involve the use of low stilts in the mudding and taping phases.
Back injuries, hernias, sprains and strains can result from lifting or plastering in awkward positions. Repetitive motion injuries may occur. Drywall and wallboard need to be cut to size, which can result in cuts and piercings. Dust cutting, trimming, and mixing operations can irritate eyes and lungs.
Property exposures are usually limited to an office and storage for supplies, tools and vehicles. Most supplies are not flammable or combustible, nor are they normally considered target theft items.
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.
Inland marine exposures include accounts receivable if the plasterer offers credit to customers, contractors' equipment and tools, goods in transit, installation floater, and valuable papers and records for customers' and suppliers' information. Equipment may be limited to trowels, spray guns, and other hand tools, or there may be ladders, scaffolding, and similar equipment.
The contractor may rent, lease or borrow equipment for unusual jobs or own special equipment that is leased, rented or loaned to others when not in use. The materials awaiting installation are subject to loss or damage by moisture, by employees of other contractors, vandalism, and theft.
Commercial auto exposures include the transportation of workers, equipment, and materials to and from job sites. 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.
Get A NV Drywall Insurance Quote
Our Nevada drywall contractor insurance contractor packages are developed by identifying special needs, as well as potential exposures that you as a drywall contractor may face on a day-to-day basis. Our drywall contractor insurance covers are designed for your growing business. Through monitoring changes in the construction industry, we've developed insurance packages that take into account current new trends in construction, offering you with the peace of mind that you deserve to perform your work with excellence. This means you can worry less about exposure to risk, and focus more on growing the business.
Nevada Economic Data, Regulations And Limits On Commercial Insurance
Nevada is home to one of the most famous cities in the world: Las Vegas; it's also home to numerous businesses and provides great opportunities for entrepreneurs who are thinking about setting up shop in the state.
However, before you set your sights on Nevada, it's important to determine if the state offers an environment that is favorable for your specific industry. In order for a business to thrive, the area it's located in has to offer a target market that will benefit from the goods and services the company offers; it also has to have access to a reliable workforce.
If you are thinking about doing business in the Silver State, it's important to determine if it is a suitable location for your operations.
Below, we provide an overview of two key pieces of information that are vital for the success of a business: economic trends and business insurance requirements.
Economic Trends For Business Owners In Nevada
The unemployment rate of a state is important for prospective business owners, as it provides an overview of the workforce and indicates whether or not businesses are flourishing in the area.
In December of 2019, the Bureau of Labor Statistics reported that the unemployment rate in Nevada was 3.8%. While that's slightly higher than the national average of 3.5% that was also reported in December, 2019, the rate has fallen steadily. For example, in July, 2019, the rate was 4.1% and in November, 2019, it was 4.0%.
There are several industries that are seeing significant gains in NV. Among the most notable sectors include:
- Architecture and engineering
- Arts and culture
- Commercial real estate
- Film and entertainment
- Healthcare and bioscience
- Human resources
- Tax planning and accounting
If you are interested in starting a company in any of these industries, Nevada will offer you ample opportunities.
If you want to see the most success possible, it goes without saying that you'll want to choose a location for your business that offers the most favorable conditions within NV. The following locations are where businesses are experiencing the most success:
- Boulder City
- Carson City
- Las Vegas
- North Las Vegas
Commercial Insurance Requirements In Nevada
The Nevada Division of Insurance regulates insurance in NV. Nevada mandates very few forms of insurance coverage by law. They enforce worker's compensation.
Nevada requires you to have worker's compensation insurance if you hire even one employee on a regular basis. This includes part-time employees, family members, minors, and immigrant employees. It is not required for independent contractors or domestic employees, though you should check to make sure any contractors you have are true contractors, and not employees.
Nevada also requires all business-owned vehicles to be covered by commercial auto insurance. Other types of business insurance that business owners should carry depend on the specific industry.
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 Nevada Drywall Contractor insurance quote in Alamo, Battle Mountain, Beatty, Blue Diamond, Boulder City, Bunkerville, Caliente, Carlin, Carson City, Carter Springs, Cold Springs, Crescent Valley, Dayton, Double Spring, Dyer, East Valley, Elko, Ely, Enterprise, Eureka, Fallon, Fallon Station, Fernley, Fish Springs, Fort McDermitt, Gardnerville, Gardnerville Ranchos, Genoa, Gerlach, Glenbrook, Golconda, Golden Valley, Goldfield, Grass Valley, Hawthorne, Henderson, Imlay, Incline Village, Indian Hills, Indian Springs, Jackpot, Johnson Lane, Kingsbury, Kingston, Skyland, and Humboldt River Ranch, Lakeridge, Lamoille, Las Vegas, Laughlin, Lemmon Valley, Lovelock, McGill, Mesquite, Minden, Moapa Town, Moapa Valley, Mogul, Mount Charleston, Walker Lake, and Zephyr Cove, Nellis AFB, Nixon, North Las Vegas, Orovada, Osino, Owyhee, Pahrump, Panaca, Paradise, Pioche, Reno, Round Hill Village, Ruhenstroth, Ruth, Sandy Valley, Schurz, Searchlight, Silver City, Silver Springs, Smith Valley, Spanish Springs, Sparks, Spring Creek, Spring Valley, Stagecoach, Stateline, Summerlin South, Sun Valley, Sunrise Manor, Sutcliffe, Tonopah, Topaz Lake, Topaz Ranch Estates, Verdi, Virginia City, Wadsworth, Washoe Valley, Wells, West Wendover, Whitney, Winchester, Winnemucca, Yerington and all other NV cities & Nevada counties near me in The Silver State.
Also find NV local small businesses by General Liability Class Code and learn about Nevada small business insurance requirements for general liability, business property, commercial auto & workers compensation including NV business insurance costs. Call us (702) 693-4277.