Oregon Welding Contractor Insurance Policy Information
Oregon Welding Contractor Insurance. Welding contractors join two pieces of metal together by melting parts of the pieces and adding a filler material that cools to unite them into one jointed piece. The five different welding processes are arc welding, gas welding, resistance welding, energy beam welding and solid-state welding. The one most frequently used by welding contractors is gas welding. The others are typically used in industry for high-speed, precision welding done by employee welders. Welding can be done at the welder's shop premises, where customers bring the property to be welded, or at off-site locations.
As with any industry, there are risks involved, especially if you own a welding firm. To keep your workers and your business protected it's best to have the right insurance policies in place. Get the Oregon welding contractor insurance coverage that will keep you and your business protected.
Oregon welding contractor insurance protects you and your truck from lawsuits with rates as low as $97/mo. Get a fast quote and your certificate of insurance now.
Liability Insurance: The Most Important Part Of Your Welder Insurance Plan
A lawsuit against your company can turn out to be expensive. Having liability insurance gives you coverage for legal defense fees, court fees, and any financial damages. If you don't have this type of insurance, you put your business in a position to lose everything. Protecting your business assets by having Oregon welding contractor insurance is important.
When you go to speak with an independent insurance agent, you will discuss different coverages to find the right one for your business. Here are some of the different policies you are likely to speak about:
Commercial Auto Liability Insurance: With a welding business, you might own vehicles that you use for transportation of equipment and tools. By having vehicles in your business, it is important that you have the right insurance for them. If the employee gets in an accident while on job time and they are using their vehicle your welding business could be held liable. Getting hired or non-owned vehicle insurance is the way to protect against this.
Commercial General Liability Insurance: Welding involves the use of fire and heat to mold the metal the way the job requires. This fact means you're more at risk of fires which can cause damage to property or others while working. By having general liability insurance, you have coverage for these types of accidents.
Umbrella Insurance Coverage: Any insurance plan you get will come with limits. If after you ever feel like the limit is too low you on your insurance you can always purchase additional liability coverage. Getting umbrella insurance is the way you'd go about doing this.
Workers' Compensation : Working as a welder means you are at risk of being injured. As a welder, you may be working outside or on scaffolding. Wherever it is protection is important. With all of these risks, there's a higher chance of injury. This simple fact means you must keep your business protected with the right Oregon welding contractor insurance.
Workers' compensation is an important part of your insurance portfolio. In many states, it's a requirement for any non-owner employees abd before you begin working on any project. Even if you're in a state where it's not required, you may still need to show proof that you have it to the person hiring you for the job.
What workers' compensation does is if a worker is injured while on the job and needs medical treatment this insurance helps with the different costs associated. It also covers lost wages and pays death benefits to the surviving family if a fatal accident happens on the job.
Other OR Welder Insurance Policies That Cover Your Business
Business personal property insurance: Covers your business property such as the tools and equipment used in the running of your welding business.
Breakdown insurance: This insurance covers costs if your equipment needs repairing or if it needs replacing. It also includes the cost of renting equipment while your main equipment is in the process of being fixed.
Builders risk insurance: If you're working as a subcontractor, this type of insurance is purchased by the top contractor on the job.
Inland marine insurance: covers your tools and equipment when they are on the job site or when they are transported to and from the site.
Oregon Welding Contractor's Risks & Exposures
Premises liability exposures may be limited at the welder's office if there are no on-premises operations due to lack of public access. If customers bring items to be welded to the premises, they should not be permitted in work areas due to the potential for injury from trips and falls, heat and sparks from welding operations, and eye injuries.
Off-premises exposures can be high due to the chance of bodily injury to employees of other contractors and property damage caused by the sparks produced by the welding process. Welding areas should have an established, maintained and monitored clear safety perimeter during operations.
Completed operations liability exposures vary depending on the type of property welded and the injury or damage that might occur if the weld breaks. Reviewing past jobs will provide an indication of the types of jobs that can be anticipated in the future.
Workers compensation exposures can be severe. As the primary cause of loss is burns, protective gear and clothing, such as face shields, gloves and aprons, are essential. Eye protection is particularly important due to the potential for injury from exposure to UV radiation and infrared light.
Lifting can result in hernias, strains, sprains and back injuries. Welding should be conducted in well-ventilated areas to reduce the exposure to injury from fire, fumes and vapors. Workers can experience lung, eye or skin irritations and reactions because of exposure to gases used in welding operations. When work is done on ladders and scaffolds, employees can be injured from falling, being struck by falling objects, or adverse weather conditions.
The absence of good maintenance of scaffolds, proper use of basic safety equipment, and strict enforcement of safety practices may indicate a morale hazard.
Property exposures are from the sparks and flames produced by the welding process and storage of gas cylinders on the premises. If all welding is done off-site, the exposure is lower but the potential for fire or explosion is still present because of the stored gas cylinders. Since most of the property at the welding contractor's premises is metal, the susceptibility to damage is low.
Welding involves the use of tanks of gases that must be stored and handled properly to avoid loss. There should be basic controls such as chained storage in a cool area and the separation of welding operations either in a separate room or with flash/welding curtains away from flammables.
Crime exposure is primarily 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. If metals being welded have high resale value, there could be theft by outsiders.
Inland marine exposures include accounts receivable if the welder offers credit to customers, computers, contractors' equipment, goods in transit, and valuable papers and records for customers' and suppliers' information. Contractors' equipment includes the weld gun, gas tanks and the protective equipment used by the welder. The goods in transit exposure includes supplies and customers' property.
There will be a bailee's exposure if customers' property is left on the welding contractor's premises.
Business auto exposures are generally limited to trips to and from job sites or picking up and delivering projects to customers. 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.
OR Welder Insurance
Owning a welding firm means you must take the necessary steps to ensure that your business is secure. The first for you to do this is to make sure that you have the right insurance policies for your business. Having the right insurance can save you lots of money if something ever goes wrong in your business or if you are sued for any work you may be doing.
Oregon Business Economic Outlook & Commercial Insurance Regulations
If you are thinking about doing business in the Pacific Northwest, you might have your sights set on Oregon. However, before you set up shop, it's important for you to have an understanding of the economy - so that you can make the best decisions possible. It's also important for you to know what type of business insurance policies you are legally required to carry in order to do business in OR.
In order to help set you up for success, below, we highlight some of key information regarding the economy in Oregon, as well as the regulations regarding commercial insurance.
The Economic Outlook In Oregon
In 2018, Oregon is projected to see an increase in their economy. The unemployment rate was 4.1 percent at the end of 2017, and it is expected that it will either stay the same or drop even lower by the end of 2022.
There are several industries that are expected to contribute to the job market and the economy overall in the state of Oregon. The industry that is expected to see the most gain in this state during the 2018 calendar year is construction, with an increase of 10.5 percent. The manufacturing industry is also expected to see significant growth, with a forecasted increase of 4.3 percent. Other industries that are expected to see growth in OR in 2022 include:
- Financial Services
Insurance Requirements For Oregon Businesses
The Division of Financial Regulation oversees the insurance industry in Oregon. Here workers compensation insurance is mandated. If you employ one or more person, whether that person is full-time or part-time, or is hourly or salaried, you are legally required to carry this type of coverage. Additionally, you must carry commercial auto insurance if you operate vehicle for any business-related purposes, whether it's meeting with clients, making deliveries, or transporting goods.
While commercial general liability insurance is not required in OR, it is highly recommended. This type of coverage will protect you from any lawsuits and the accompanying settlements that may arise in the event that some slips and falls, or claims that you damaged their property. You should also consider investing in commercial property insurance, as it can help to offset the cost of any property losses that you might experience.
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.
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- 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
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- Contractor Liability
- Curtain Cleaners
- Deck Builders
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- Drywall Contractor
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- Welding Contractor
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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 Oregon Welding Contractor insurance quote in Albany, Ashland, Astoria, Aumsville, Baker, Bandon, Beaverton, Bend, Boardman, Brookings, Burns, Canby, Carlton, Central Point, Coos Bay, Coquille, Cornelius, Corvallis, Cottage Grove, Creswell, Dallas, Damascus, Dayton, Dundee, Eagle Point, Estacada, Eugene, Fairview, Florence, Forest Grove, Gervais, Gladstone, Gold Beach, Grants Pass, Gresham, Happy Valley, Harrisburg, Hermiston, Hillsboro, Hood River, Hubbard, Independence, Jacksonville, Jefferson, Junction, Keizer, King, Klamath Falls, La Grande, Lafayette, Lake Oswego, Lakeview town, Lebanon, Lincoln, Madras, McMinnville, Medford, Milton-Freewater, Milwaukie, Molalla, Monmouth, Mount Angel, Myrtle Creek, Myrtle Point, Newberg, Newport, North Bend, Nyssa, Oakridge, Ontario, Oregon, Pendleton, Philomath, Phoenix, Portland, Prineville, Redmond, Reedsport, Rogue River, Roseburg, Salem, Sandy, Scappoose, Seaside, Shady Cove, Sheridan, Sherwood, Silverton, Sisters, Springfield, St. Helens, Stanfield, Stayton, Sublimity, Sutherlin, Sweet Home, Talent, The Dalles, Tigard, Tillamook, Toledo, Troutdale, Tualatin, Umatilla, Union, Veneta, Vernonia, Waldport, Warrenton, West Linn, Willamina, Wilsonville, Winston, Wood Village, Woodburn and all other OR cities & Oregon counties near me in The Beaver State.
Also find OR local small businesses by General Liability Class Code and learn about Oregon small business insurance requirements for general liability, business property, commercial auto & workers compensation including OR business insurance costs. Call us (503) 610-0300.