Running a flooring business can be more dangerous than many people think. From sharp tools to heavy materials, the risks are everywhere. A small mistake, like installing flooring incorrectly, can jeopardize a contractor’s livelihood. Thomas McMillan, a commercial lines underwriter at Central Insurance, emphasizes that flooring contractors face unique risks. The adhesives used can lead to liability issues, and the physical demands of the job can result in workers’ compensation claims. Therefore, having the right insurance is not just smart; it’s essential.
Every flooring job presents its own challenges. Contractors must deal with flammable materials, heavy equipment, and the constant movement of people in active work zones. These factors can lead to injuries, property damage, and delays that hurt the business financially. Common hazards include slip-and-fall injuries from improperly installed flooring, chemical exposure from adhesives, fire risks at storage sites, and tool theft during transit. Additionally, vehicle accidents are a concern due to the frequent travel between job sites.
To protect against these risks, various types of insurance coverage are recommended. General liability insurance covers third-party property damage and bodily injury claims, which can arise from high foot traffic at job sites. Workers’ compensation is crucial for covering medical expenses and lost wages if an employee gets injured. Commercial auto insurance helps cover liability and damage for vehicles used to transport tools and materials.
For businesses that operate out of a physical location, commercial property insurance protects against losses from fire, theft, or weather-related damage. Inland marine insurance is also important, as it covers tools and materials while they are in transit or temporarily stored at job sites.
For added protection, contractors can consider commercial umbrella insurance, which provides extra liability coverage above existing policy limits. This is especially important in serious incidents that could exceed standard policy limits. Equipment breakdown insurance is another valuable option, covering repairs or replacements for essential tools that fail due to mechanical issues.
Cyber insurance is becoming increasingly relevant, as flooring businesses often handle sensitive customer data. With the rise in cyber attacks, having coverage can help mitigate costs related to data breaches or cyber extortion.
To further reduce risks, flooring contractors can adopt safety protocols. Simple steps include marking off incomplete flooring areas, securing tools and cords to prevent trips, and storing chemicals safely. Training staff on job site safety and ensuring all subcontractors have proper insurance are also essential.
Central Insurance aims to support flooring contractors by offering tailored insurance solutions and expert advice on risk management. Their team understands the unique challenges faced by flooring businesses and is ready to help contractors build a secure foundation for their operations.