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Plastering, Drywall, & Insulation Contractors Insurance

Plastering, Drywall, and Insulation Insurance

Get a quote on Business Insurance

Plastering, drywall, and insulation contractors are exposed to many hazards in the course of their work, from unintentional property damage or physical injury to unexpected disasters like a fire. When you purchase business insurance to fit your needs, you can feel confident that your business will be protected from the financial consequences of a costly lawsuit or accident.

What insurance coverage do I need as a plastering, drywall, and insulation contractor?

There are many types of insurance coverage to consider, but these policies are particularly relevant to drywall, insulation, and plastering businesses:

General Liability Insurance

General liability insurance protects your business from claims of accidental third-party property damage, bodily injury, personal injury, or advertising injury. Since drywall, insulation, and plastering contractors work at a variety of homes and businesses, there’s always a chance that your work could unintentionally cause someone an injury or damage their property. If your business is sued for a third-party injury or property damage, general liability insurance can cover legal fees and damages, in addition to medical payments in the case of an injury.

General liability insurance also includes coverage for products and completed operations. If property damage or injuries are caused by your work after it has been completed, this aspect of general liability insurance will provide coverage. Drywall, insulation, and plastering contractors often install materials designed for waterproofing or fireproofing; if a problem in installation causes materials not to function properly, you could be held liable for any damage that results. It’s important to note that products and completed operations coverage does not cover damage to your product or completed work itself; it only applies if the completed work causes damage to a customer’s other property.


Commercial Property Insurance

Commercial property insurance will provide funds to replace or repair your business property if it is destroyed or damaged by a covered peril. For businesses in the drywall, insulation, and plastering industry, there can be a higher risk of property damage since insulation materials may be flammable. If a disaster strikes your office or storage area, replacing or repairing damaged items can be costly and time-consuming. Commercial property insurance can help you recover from losses caused by common perils including windstorms, hail, fire, vandalism, explosion, and water damage.

Commercial property insurance covers the following:


Commercial Auto Insurance

Drywall, insulation, and plastering contractors typically rely on vehicles to transport materials, equipment, and employees to worksites. You will need to secure commercial auto insurance for any vehicles your company owns or leases. If one of your employees is driving a company vehicle and causes an accident, your commercial auto insurance will pay for any resulting third-party bodily injury, property damage, or pollution cleanup. Commercial auto insurance also covers the value of the vehicle itself if it’s damaged by a collision or another peril, like a falling object or theft.

If your employees drive their own vehicles to clients’ locations, you may need to add hired and non-owned auto insurance. This coverage will protect your company if an employee is at fault in an accident while driving a personal vehicle for work purposes.


Workers’ Compensation Insurance

Installation of drywall, insulation, and plaster is physically demanding and can be risky for employees, with common injuries including cuts, eye and lung irritations caused by dust, falls from ladders or scaffolding, and back injuries or sprains. This is why it’s critical to obtain sufficient workers’ compensation insurance as well as encourage safe working practices. If employees suffer an occupational injury or illness, workers’ comp will provide funds for their medical expenses and a portion of lost income during recovery. Workers’ comp also provides financial benefits to surviving dependents if an employee dies in a work-related accident.

Workers’ compensation insurance laws vary from state to state, but almost every state requires employers to secure this coverage. Failing to secure adequate coverage can result in heavy fines and penalties for your business, so it’s important to check your local workers’ comp laws to confirm that your business is complying with regulations. 


Inland Marine Insurance 

Inland marine insurance provides financial protection for your business property that does not remain at a fixed location and is not covered by a standard commercial property insurance policy. Since your company likely transports tools, equipment, and supplies to various locations, it’s a good idea to obtain inland marine insurance to protect this property in case it’s damaged by a covered peril. 

Installation floaters are a common type of inland marine insurance for contractors. An installation floater covers materials, supplies, and equipment while it’s in transit, waiting to be installed, and during the installation process. You can purchase coverage for a specific project or to cover all projects for a specified period of time. It’s a good idea to purchase this coverage to cover your business while building or renovation projects are in progress. 


Additional Coverages

Pricing and Quotes

Pricing for plastering, drywall, and insulation contractors insurance will vary based on the type of insurance coverage and the risk profile of your business. Insurers consider factors such as:

Businesses with higher risks will have higher premiums than those deemed lower risk. For example, a drywall contractor with a history of frequent claims will face higher premiums. Premiums also rise as you increase the limits of insurance. Different insurance companies have different models for rating risks, so it is worth comparing pricing across different insurers.

In order to get an accurate estimate on pricing, it’s best to get a quote from a reputable insurance company. Below we’ve highlighted a few of our trusted partners who offer coverage for plastering, drywall, and insulation businesses:

ProviderGeneral LiabilityProfessional LiabilityBusiness Owner's Policy

Final Word

Working with drywall, insulation, and plastering can bring risks, and it’s important to make sure your business is prepared for unexpected incidents. If your company is affected by an injury caused by your work, an expensive auto accident, or a fire, recovering can be difficult and costly. Purchasing business insurance can give you the financial protection you need to continue operating even after a disaster.

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