As a blacksmith, you obviously enjoy your craft and strive to offer unrivaled services to your customers. However, a blacksmith business can involve unforeseen liabilities and risks like any other business. To safeguard yourself from exponential financial losses, you must secure the right blacksmith insurance policy.
| CoverWallet | NEXT (Best) | Thimble | Hiscox | The Hartford | |
|---|---|---|---|---|---|
| Per occurrence limit | $1,000,000 | $1,000,000 | $1,000,000/$2,000,000 | $2,000,000 | $1,000,000/$2,000,000 |
| Aggregate limit | $2,000,000 | $2,000,000 | $1,000,000/$2,000,000 | $2,000,000 | $1,000,000/$2,000,000 |
| Products and completed operations aggregate limit | $2,000,000 | $1,000,000 | $2,000,000 | $1,000,000 | $1,000,000 |
| Advertising injury coverage aggregate limit | $1,000,000 | $1,000,000 | $2,000,000 | $1,000,000 | $1,000,000 |
| Tenant’s legal liability coverage limit | $300,000/$1,000,000 | $300,000 | $100,000 | $100,000 | $1,000,000 |
| Waiver of subrogation included? | Yes | No | Included | Can be included | No |
| Hired/non-owned auto liability coverage included? | Yes | No | No | Can be included | Can be included |
| Equipment breakdown floater included? | No | Yes | Yes | Can be included | Can be included |
| Can you get a certificate of insurance online? | Yes | Yes | Yes | Yes | Yes |
| Name additional insureds? | Yes | Yes | Yes | Yes | Yes |
| Deductible | $0 | $0 | $0 | $0 | $0 |
This blacksmith insurance will protect your business when accidents occur. The policy covers common unexpected hazards and events. It is comprehensive insurance that will grow as your business expands. Some of the perils covered include:
Property damage–As a blacksmith, you have invested in heavy equipment and machinery. This equipment can cause damage to the property of others. The general liability insurance will cover all the costs of damages
Bodily injury–A customer or anyone can get injured in your business premises. The coverage will cover legal fees and medical expenses
Advertising claims–Your customers can sue your business for false advertising or misleading information–The coverage will cover legal and settlement fees
Completed product claims–You supply finished products to your customers as a blacksmith. If you sell defective products and they cause harm to customers, they can sue you. The insurance will protect you from potential liability claims
HNOA coverage–HNOA coverage is an add-on to general liability insurance that will cover the cost of accidents caused by a hired or borrowed commercial vehicle
Professional liability insurance–If you make errors or mistakes in your business. The insurance will cover legal and settlement fees
This ironworker insurance’s coverage limit is $1 million to $ 2 million for each occurrence. But this amount will vary from one business to another depending on the policy terms.
As a blacksmith or metalworker, you sell finished products to your customers. These products can be defective and end up causing property damage or injury to your clients. This metalworker insurance will protect your business in case of such mishaps. It will cover court, legal, and settlement costs. Product liability insurance protects you against the following risks:
Product defects–If you produce defective products that can cause harm to your customers, the insurance will cover your business against liability claims
Product recalls–A product can be recalled due to safety concerns. The insurance will cover all the associated costs
The coverage limits of this metalworker insurance are $1 million to $2 million for each occurrence. But you can request higher limits if your business is exposed to multiple risks.
Yes, you will need this insurance regardless if you sell at a local market and not at the shop. You will still be held accountable for any damages or injuries resulting from your business products.
No, this type of insurance is not compulsory. But you require this coverage to cushion your business against claims made on your products.
If your business uses materials or processes that can cause environmental pollution, you need pollution liability insurance. Your business may unintentionally release pollutants to bodies of water, forests, and other natural dwellings.
The insurance will cover the costs of cleaning and remediating these events. Also, neighboring people or businesses can sue you for environmental contamination or pollution; the cover will protect your business from liability claims.
The coverage limit for this type of blacksmith insurance is $1 million to $10 million. You must evaluate your unique pollution risks to ensure sufficient cover.
No, this type of insurance only covers accidental environmental pollution. If you don’t comply with environmental regulations, your business will have to pay penalties or fines.
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| CoverWallet | NEXT (Best) | Thimble | Hiscox | The Hartford | |
|---|---|---|---|---|---|
| Building coverage limit (minimum) | $50,000 | $260,000 | $25,000/$500,000 | $25,000 | $60,000 |
| Contents coverage limit (minimum) | $50,000 | $22,000 | $25,000/$500,000 | $25,000 | $60,000 |
| Outdoor signs | Excluded | $2,500 | Excluded | Excluded | Excluded |
| Accounts receivable | Excluded | Excluded | $5,000/10,000 | Included | Excluded |
| Money and securities | Excluded | $2,500 | $1,000 | Included | Excluded |
| Lock and keys | Excluded | $2,500 | Excluded | Excluded | Excluded |
| Business interruption floater | Excluded | Included | Included | Included | Excluded |
| Equipment breakdown floater | Excluded | Included | Excluded | Excluded | Excluded |
| Inland marine insurance floater | Excluded | Excluded | $10,000 | Excluded | Excluded |
| Employee dishonesty floater | Excluded | $5,000 | $2,500 | Included | Excluded |
Commercial property insurance protects your business's physical assets. It will cover inventory, buildings, or equipment from damage. Some of the covered perils of this policy include:
Fire
Theft
Vandalism
Water damage
Hurricanes
Earthquakes
Business interruption insurance–This will cover expenses and lost income if your metalwork or blacksmith business closes down due to a covered peril
Equipment breakdown insurance–This will cover repair and replacement costs if your equipment breaks down
The coverage limit for commercial property insurance is closely related to the value of your property. It will also depend on the coverage options you choose for your business.
Yes, even if you have rented your shop, you still need commercial property insurance. The insurance will protect your business equipment and inventory.
Yes, you can adjust your coverage limits at any time. Talk to your insurance provider when you feel you need to adjust your limits.
| CoverWallet | Thimble (Best) | NEXT | Hiscox | The Hartford | |
|---|---|---|---|---|---|
| General liability aggregate limit | $2,000,000 | $2,000,000 | $2,000,000 | $300,000 | $1,000,000/$2,000,000 |
| Commercial property coverage limit | $50,000 | $500,000 | $260,000 | $25,000 | $75,000 |
| Optional policies can be added? | Yes | Yes | Yes | Yes | Yes |
| Name additional insureds for free? | Yes | Yes | Yes | Yes | Yes |
| BOP discount? | Yes | Yes | Yes | Yes | Yes |
A business owner's policy (BOP) combines multiple policies into one single policy. This bundled policy is more affordable and more convenient than securing multiple policies. It can contain:
General liability insurance
Business interruption insurance
Commercial property insurance
Workers' compensation insurance–You can include this as an add-on to protect your employees from potential injuries and illnesses that may occur in your workplace
Cyber liability insurance–This grants coverage for claims filed because your business accidentally released customer data due to a phishing, malware, or any other type of cyber attack
The coverage limits for BOP can be $1 million to $5 million. You need to discuss with your provider the ideal coverage limit that applies to each coverage included in the BOP.
Yes, your BOP for blacksmith can have some stipulated limitations. For instance, it may not cover certain events. You need to review the policy terms to identify any limitations diligently.
| NEXT | Thimble | Hiscox | The Hartford | |
|---|---|---|---|---|
| Aggregate limit | $3,000/$10,000 | $2,500/$5,000 | $15,000/$25,000 | $5,000-$10,000 |
| Covers hired and borrowed equipment? | $3,000/$10,000 | $2,500/$5,000 | No | Yes |
| Miscellaneous equipment also covered? | $5,000/$10,000 | No | Yes | Yes |
| Offered as an endorsement to general liability insurance? | Yes | Yes | Yes | Yes |
| Deductible | $500 | $500 | $0 | $0 |
Tools and equipment insurance is A coverage that protects your equipment and tools. It will cover perils such as loss, theft, vandalism, or damage. This insurance will cover your machines, hammers, and forges.
Rental equipment coverage–This will cover the cost of renting new pieces of equipment because the ones that you own are defective and are waiting to be replaced or repaired
Inland marine coverage–It will cover all your tools and equipment when transported to a trade show or job site
The coverage limit for tools and equipment insurance is equivalent to the value of your items. For example, a $5,000 equipment will also receive a $5,000 coverage for replacement or repair.
You can add new equipment to your policy during the coverage period. Contact your insurance provider to update your policy.
Your metalwork or ironwork business can have employees who help you run the business. The law requires that you have workers' compensation insurance to protect your employees from common illnesses or injuries that may happen in the workplace. This insurance will compensate for the following:
Medical costs
Death benefits
Rehabilitation benefits
Lost income
Employer’s liability insurance–This coverage will cover illnesses or injuries that happen in your workplace and are not covered by the standard workers' compensation insurance
The coverage limit for workers' compensation insurance is $100,000 to $ 1 million for each occurrence. But you need to evaluate your policy terms for adequate coverage.
Every business that hires one or more employees. The failure to get workers compensation insurance is punishable by a fine, imprisonment, or stop-hold order.
| Cost per Month | Cost per Year | Deductible | |
|---|---|---|---|
| General liability insurance | $25 | $300 | $0-$500 |
| Commercial property insurance | $50 | $600 | $1,000-$2,000 |
| Business owner's policy | $85 | $1,020 | $1,500 |
| Tools and equipment insurance | $28 | $336 | $500-$1,000 |
| Workers comp insurance | $76 | $912 | $2,500-$5,000 |
The average ironworker insurance cost is $59 per month or $708 per year for a $1 million general liability coverage. Policies that affect the cost of premiums are claims history, business history, location, annual revenues, policy limits, and deductibles. But each insurer has its specific costs. Here is a brief breakdown of the premiums from various companies:
| Cost per Month | Cost per Year | Best for | |
|---|---|---|---|
| NEXT | $25 | $300 | Best overall; Fastest general liability insurance for blacksmiths |
| The Hartford | $29 | $348 | Established blacksmith businesses with diversified insurance needs |
| Thimble | $30 | $360 | Blacksmith businesses looking for short-term insurance coverage |
| CoverWallet | $31 | $372 | Comparing blacksmith insurance quotes online |
| Tivly | $33 | $396 | Comparing blacksmith insurance quotes over the phone |
| Hiscox | $35 | $420 | Blacksmith business owners who need high coverage limits |
Get all the best quotes from leading providers in a click of a button!
Here are some of the best blacksmith insurance companies. Read some of the reviews below to know their pros, cons, and average cost for a $1 million general liability insurance.
Best overall
Issues an online proof of insurance instantly
Fastest general liability insurance blacksmiths
Great customer service and reputation
Excellent rates
Outstanding value for money
Get a 10% discount if you buy two or more policies
Couldn’t find any
NEXT is an online business insurance provider that was founded in 2016. It independently handles its claims and policies. You can find single policies or package policies that are customized to the needs of any business. They have an online platform where you can acquire your insurance certificate and manage your business claims.
Best for: Best overall; Fastest general liability insurance for blacksmiths
Average cost: $25 per month
Our rating: 10/10
Easy application process
Compare quotes online
HNOA coverage automatically included in general liability insurance
Slow customer service
CoverWallet started operating in 2016. Through their online platform, they sell various insurance products their partners provide. They will help your blacksmith business understand your insurance needs and provide instant quotes. You can easily manage your payments, claims, and policies centrally.
Best for: Comparing blacksmith insurance quotes online
Average cost: $31 per month
Our rating: 10/10
Offer benefits and discounts to the AARP members
Have local agents
Customized coverage options
Does not favor non-AARP members
The Hartford is an outstanding insurance company. They offer many insurance options for business persons. This company primarily specializes in offering affordable policies for drivers who are above the age of 50.
Best for: Established blacksmith businesses with diversified insurance needs
Average cost: $29 per month
Our rating: 10/10
Connects you with multiple providers
Instant quotes
Affordable policies
They are not an insurance provider but a comparison tool for different providers.
Tivly is an online insurance agency where policies from various providers can be compared. You can compare the costs, terms, and limits of each insurance provider to determine which is ideal for your business. They have comprehensive insurance policies that will offer adequate coverage for your business. Call now to compare quotes over the phone.
Best for: Comparing blacksmith insurance quotes over the phone
Average cost: $33 per month
Our rating: 9/10
You can manage your policies via a mobile app
Customizable options
Short-term coverage is available
Numerous add-ons to general liability insurance
Limited policies available
Thimble is a company that offers unique deals for business owners. You can purchase their policy for even an hour or a day. This company was started in 2015 and offers professional liability insurance, general liability insurance, and business owner’s policy.
Best for: Blacksmith businesses looking for short-term insurance coverage
Average cost: $30 per month
Our rating: 9/10
Instant quotes
Discounts available
Comprehensive coverage options
·Online quoting not available all the time due to periodic site maintenance
Hiscox was established in 1901. Over the years, it has provided coverage for small business insurance. It is operational in 49 states and claims can be filed online. Their insurance policies are most suited for professional service businesses.
Best for: Blacksmith business owners who need high coverage limits
Average cost: $50 per month
Our rating: 9/10
This place is an absolute joke of a company and should be ashamed of the way they conduct business. I was hurt on the job at the end of July and it took them just shy of 7 weeks to issue out a paycheck to me. Yes the amount was back dated but still. Not many have the luxury of not receiving a paycheck for almost 2 months. To top it all off, the original adjuster marked me down for the wrong state which caused a problem from the get go, I've had 3 different adjusters now since each one can't seem to figure out the simplicity of my claim. All my paperwork which includes, my job, house, and drs visits all are from the same state and city but yet some how I have been filed under a completely different state 1500 miles away. They do not answer your phone calls or emails no matter how many you leave. I've had to escalate my frustrations to the supervisors of each of these individuals in order to even get some kind of response. I've had more communication and information given to me about my claim from the customer service representatives then the actual adjusters.......... please tell me how that works?! A serious overhaul needs to happen here in order to serve your clients the way they deserve to be taken care of. 10/10 do not recommend this company to a single soul on earth
I have never had the displeasure of working with a more incompetent and disrespectful person in my life. I’m an injured worker and the adjuster that was assigned to my case was named Carrie Furgeson. In the past 6 weeks that I’ve been injured and out of work I have only been able to get ahold of her twice, not for lack of trying. I have left countless voicemails, countless emails, and she ignores them all. When I am finally able to get ahold of her I’m greeted with terrible customer service. She is rude, she talks over me and I’m hardly able to get a word in edgewise. She spelled my name wrong on my documents even after I spelled it for her properly countless times, this caused a whole new issue with my bank. I have bill collectors from the hospital calling me demanding payment and Carrie Furgeson won’t do a single thing to help, or to get them paid. All of my documentation is in Colorado, my job is in Colorado, my address is in Colorado, all my Dr offices and appointments have been in Colorado and Carrie still managed to hold my claim because she wasn’t sure what state she needed to file it under. It’s been 6 weeks since my Injury and my company still hasn’t received the wage paperwork to fill out so they can get me my correct wages. When she’s not ignoring me she’s answering my questions with “I don’t know” well I don’t know how she got this job, because apparently she doesn’t know anything about it. She is a disgusting morose individual inside and out and I genuinely wish her the worst in all of her future endeavors. I highly recommend you don’t use this company. Please if you are a business owner and your looking into this company please don’t use them. I’m sure they have the cheapest payment and that’s why companies use them in the first place, but you will be doing your employees a grave disservice by forcing them to venture into this absolute dumpster fire of a company. I would rate 0/5 if possible but 1 was the lowest I was allowed.
Their general liability insurance purchase process is simply the best online experience I've ever had in my life!
As long as they cover your line of business, you're literally covered! best rates, best coverage, best online experience, best professionals, can't be happier that I chose them!
It really can't get any better than this... wow
Not all those who wander are lost.
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