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Why might you need insurance as a self-employed carpenter?

Sep 26, 2022 · 4 minutes to read

There’s a lot of freedom that comes with owning a carpentry business. Setting your own hours, choosing the projects you work on, and calling the shots are all reasons why carpenters decide to go freelance. Running your own carpentry business can be truly rewarding!

Carpenter cutting wooden plank

But these rewards also come with great responsibility. It’s your job to manage the risks your business faces, and carpenter insurance is one way to do this. Let’s look closer at four common reasons why insurance might be right for your carpentry business:

  • Applying for or renewing a carpentry license
  • Following state or local employment laws
  • Accepting business contracts or signing a commercial lease
  • Protecting your carpentry business

Getting a carpentry license

A major reason why you may consider business insurance is to get a carpentry or contractor license. In some states and local areas, General Liability insurance is a requirement to get and keep a trade license. You may be required to maintain a certain level of coverage to work as a carpenter.

Recommended reading: Carpenter License Requirement by State: A Guide

Your local licensing body can provide up-to-date information on how to become a licensed carpenter and the freelance carpenter insurance requirements you may need to meet.

Following the law

If you have employees, you may be required to have insurance to protect them. Every state except Texas legally requires businesses with one or more employees to have Workers’ Compensation insurance. These laws typically apply to both part-time and full-time staff, as well as temporary or seasonal workers.

Workers’ comp laws vary by state. Local and state government websites can help you understand the Workers’ Compensation insurance requirements for carpentry businesses in your area.

Meeting contractual obligations

Another reason for considering carpenter insurance is to meet the requirements of a business contract. Some companies require the contractors and subcontractors they hire to have certain types of insurance, usually General Liability. This may also be the case if you are leasing commercial business space, such as a workshop or warehouse.

Companies and commercial landlords typically include any insurance requirements in their business contracts or lease agreements. You may be asked to provide a certificate of insurance to prove you are meeting these obligations.

Protecting your small business

What if none of the above scenarios apply to you? You might be free to do carpentry work without insurance, but do you want to? Carpentry businesses face risks every day that insurance helps shield them against. Without these policies, you could be responsible for expensive legal costs, compensation, equipment repairs, and more.

You might consider General Liability or a Business Owner’s Policy to protect you from third-party property damage, unexpected business interruptions, equipment breakdown, and other common hazards to your carpentry business.

Where to find carpenter insurance

There are many reasons why carpenters buy business insurance. Whether you are meeting freelance carpenter insurance requirements or want to protect your finances, carpenter insurance could help you do that. And BizInsure can help you find a policy that works for your business.

With BizInsure, finding carpenter insurance is simple. Compare quotes online from top-rated insurers and buy policies in as little as 10 minutes. We’ll even send your certificate of insurance instantly to your inbox! Licensed agents are also available to help you at any stage for as long as you hold your policy.

Get covered and get back to running your carpentry business. Start comparing quotes now!

As with any insurance, coverage will be subject to the terms, conditions and exclusions contained in the policy wording. The information contained on this web page is general only and should not be relied upon as advice.
The number of quotes provided varies between products, occupations and other underwriting factors determined by the insurers.
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The coverage you need for your business

Professional Liability Insurance

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General Liability Insurance

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Business Owner’s Policy (BOP)

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Workers Compensation Insurance

Workers Compensation Insurance

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