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Carpenter Insurance & Joiners Insurance: Cost & Quotes From $11

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Carpentry is one of the best-paid trades in the United States, and it’s also one of the least dangerous. Unlike being an electrician or a roofer , you likely won’t end up in a situation where your life ’s on the line unless something goes severely wrong when you’re working as a carpenter.

However, just because there are fewer risks involved on the job, it doesn’t mean that business insurance can’t come in handy when you’re working as a carpenter. Over the course of this guide, we’re going to take a look at carpenter insurance, including the various types and how much carpenter insurance costs.

Like with any trade, carpentry insurance may seem pretty complicated due to the sheer variety of policies and coverage types available, so we’re going to make it easy for you to decide on the right option for your business needs. Let’s dive right into the deep end by looking at the various kinds of business insurance for carpenters.

Types of Insurance for Carpenters

The best kind of carpenters and carpentry business insurance depends on exactly what you want it to cover. We’re going to explore some of the main types of carpentry insurance, including general liability insurance, professional indemnity insurance, and public liability insurance.

Carpenter Liability Insurance: General Liability Insurance for Carpenters

Carpenter general liability insurance is one of the most common types of insurance for carpenters, and it’s designed to cover carpenters in case of equally common occurrences. For example, this kind of coverage will cover you in case of a claim involving property damage caused by your services.

Due to the potential for property damage during any carpentry job, it’s usually a good idea to get general liability coverage. Here are some example situations where the policy can be extremely useful:

  • You’re working in a client’s living room and currently carrying a plank to install on the wall. While carrying the plank, the client’s dog suddenly passed by causing you to lose balance. The plank that you’re carrying hit the client’s TV and broke its screen

  • You’re working on a client's rooftop. While using another tool, you decided to place the hammer on the gutter of the client’s roof. Below that gutter is the client’s car. While attempting to get the hammer, your fingers pushed the handle toward the edge. As a result, the hammer fell on the client’s car causing a minor dent

  • The client asked you to park your cargo van in their yard.  You hit the fence by accident while reversing

You should know that general liability doesn’t only cover property damage claims against you. The policy takes care of personal injury claims too. Here are some situations where it can help:

  • While hammering a particular structure, the hammer slipped and flew out of your hands. The hammer in question then landed on the client’s head who was watching the progress of the project

  • You’re building a treehouse. One of the planks you’re about to install fell on the client who was passing by 

General liability insurance for carpenters comes with an optional coverage called products and completed operations. The following examples will make you understand how it works:

  • A client asked you to make 10 chairs for his new bunkhouse.  1 week after you delivered the chairs, the client called and asked you to pay for his injuries. Upon asking why, it turned out that one of the 10 chairs you made had a screw loose. Which made the chair in question wobbly and unstable. 

  • You were tasked with fixing the roofing of a client’s house. The client asked you to rush things to save on labor costs. You followed the instructions. Sometime after the project was completed, the client visited your home and demanded you pay for damages. The client’s reason was that the roofing was improperly installed and came off easily when a strong rain poured. As a result, an area of the client’s house was soaked with water. 

As a carpenter, how much general liability insurance do you need? It’s alright if you only get $500,000 coverage. However, experts recommend a $1 million general liability insurance. This amount doesn’t only provide ample coverage but is also what most clients require. 

Professional Indemnity Insurance for Carpenters

Professional indemnity coverage is also often referred to as PI insurance, errors and omissions insurance, or professional liability insurance

In most cases, this covers you when you are accused of providing a client with wrong or even inadequate advice when you’re working for them. It is designed to cover you in case of legal expenses when you have to defend yourself in court. It will also cover you in case you lose your court case and you’re held liable for costs or damages at the end of the case.

Here are some examples for you to fully understand how this policy works:

  • A business is asking for advice about the best roofing against a typhoon. Upon following your tip, it turned out that the recommended roofing was actually the worst kind for strong winds. The client sued you for such erroneous advice and demanded you reimburse what they spent

  • You’re working on a tile installation project. Upon returning to the client’s house after having lunch, the client stormed due to the fact that you forgot to put the tile cutter safely away. It turned out that while you were out, the client’s kid played with the tile cutter and cut himself. For such an incident, the client is suing you for negligence and demanding you pay for the pain and suffering of their child 

Public Liability Insurance for Carpenters

Public liability insurance is similar in practice to standard liability insurance, though it doesn’t cover the carpenter or the people working for a carpentry business. Instead, this form of coverage is designed to protect members of the public who visit property belonging to your business, so it only really applies if you have a physical place of work.

Much like general liability insurance, this kind of coverage is designed to protect you from claims stemming from injuries and property damage. If someone dies because of the carpentry service you provided, general liability can also cover depending on which carrier insured you. 

Loss of Earnings Coverage for Carpenters 

Carpentry is a risky job. Latest data shows that there are 11,670 non-fatal injuries experienced by carpenters.  In connection, accidents that you might experience are:

  • Falling from an elevated area

  • Slipping

  • Cuts and contusions as caused by the use of tools such as hammers, cutters, and drills

  • Getting exposed to harmful chemicals

  • Objects falling on you

  • Electrocution

If an accident happens and you sustain serious injuries, you can’t work for sure.  Not earning money can be very problematic. There are loans, taxes, and other bills to pay. 

Get loss of earnings coverage to ensure you’ll still have money in case you get severely injured while working. This policy gives you a $300 - $450 weekly allowance. But note that this won’t cover you forever.  Loss of earnings will stop providing coverage the moment payments reach a particular threshold, which was set by the carrier on the policy’s terms. 

Equipment and Tools Coverage for Carpenters 

As a carpenter, you rely on tools and equipment to finish a project. Use good tools and the project will be to the client’s liking. If the opposite is true, then all that you’ll hear are the client’s complaints. 

A carpentry set is very expensive. Even the cheapest ones cost $1,000 or more.  Consider insuring your carpentry set if you don’t want to incur financial losses if it needs repair or replacement. How? Simple, get equipment and tools coverage. Equipment and tools kicks in if theft, vandalism, fire, and other covered perils happen to your carpentry tools and equipment.

Commercial Auto Insurance for Carpenters 

Do you use a cargo van or flatbed truck to carry carpentry equipment and reach clients? If so, commercial property insurance will be more helpful than personal car insurance. 

It’s true that personal auto insurance covers vehicles used for business purposes, so long as you tell the carrier about it. However, note that doing so comes with drawbacks. For instance, your premiums will increase. 

And so, it’s best to ditch your personal car insurance or upgrade it to commercial auto insurance. Commercial auto insurance has the following coverages:

  • Auto liability insurance

  • Physical damage coverage

  • Emergency roadside assistance

Auto liability insurance covers legal fees and compensatory payments if you caused a vehicular accident. However, if you’re caught driving under influence, then auto liability insurance might not provide coverage. 

Physical damage coverage ensures that you don’t pay so much for car maintenance. This has two types - collision and comprehensive. Collision physical damage coverage will pay repair or replacement costs if your car got damaged after colliding with a vehicle or object in the road. 

Collision insurance doesn’t cover damage that your car incurred upon hitting a deer or any other animal on the road. Comprehensive insurance provides coverage instead. 

Aside from damage because of hitting a deer or any other animal, comprehensive insurance covers perils such as fire, theft, vandalism, windstorm,  hail, and flood. Comprehensive physical damage coverage doesn’t take care of normal wear and tear. The same also applies to collision physical damage coverage. 

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Carpentry Business Insurance

If you’re working as a self-employed carpenter, then getting business insurance shouldn’t be quite so complicated as long as you ensure that you have public liability coverage as well as professional indemnity coverage. While much of this is the same for carpentry businesses, there are a few extra things that you’ll have to account for.

For example, if you run a general contracting carpentry business that employs carpenters, then you may wish to get a more varied form of carpenters business insurance that will cover all of the jobs that your workers perform. 

Carpentry business insurance tends to be a little more expensive but it ensures that you won’t need to get your hands on countless different kinds of coverage. Policies bundled in carpentry business insurance are:

  • General liability

  • Commercial property

  • Workers compensation

  • Employer’s Liability

General Liability Insurance for Carpentry Business

Clients will require you to get general liability insurance. The policy will allow the client to get some money if ever your business’s carpenters cause personal injuries or property damage. Just like a carpenter’s general liability insurance, a carpentry business’s general liability insurance can be added with products and completed operations coverage for more protection. 

Carpentry Business Commercial Property Insurance

Your business has tangible assets that can be very expensive to replace. And so, to ensure that you don’t use company funds to shoulder replacement costs, get commercial property insurance. 

Commercial property insurance covers the reconstruction of your building if it is damaged or totaled by fire, vandalism, theft, and other named perils. Note that earthquakes and floods are excluded.  But still, you can get specialized flood insurance and earthquake insurance. 

If you want commercial property insurance to cover business equipment and tools, then add business equipment coverage. This one reimburses expenditures if you need to repair or replace helmets, saws, hammers, drills, and more. 

So how much commercial property insurance do you need? You’ll have to figure this one out yourself. However,  the rule of the thumb is that the amount of commercial property insurance must be equal to or higher than the total value of business assets that are very costly to replace or repair. 

Workers Compensation Insurance for Carpentry Business

Since you’re running a high-risk business and currently have employees, then you need to get workers compensation insurance. Workers compensation insurance sees to it that - if ever your carpenters became injured while working - you don’t shoulder the cost of compensating them.

Know that workers compensation insurance can be expensive. And whether you like it or not, you have to purchase this insurance. Workers comp is mandated by state laws. You’ll need to have this the moment 1 or more permanent, seasonal, part-time, or contractual employees are working for you. 

So what can happen if you don’t purchase workers compensation insurance? Failure to get this coverage is punishable by law. You might be fined $12,000 or more. And if things get out of control, your business might even get suspended. 

Employer’s Liability Insurance 

Let’s say your carpentry business failed to provide employee benefits.  Aggrieved employees then filed a claim. So what kind of insurance will help you sort the mess out? Employer’s liability insurance.

Employer’s liability insurance will shoulder legal fees and compensatory payments for employee benefits lawsuits. This one will also cover claims filed because you failed to deliver wages and allowances on time. 

Joiners Insurance

Joiners insurance, which is also commonly referred to as joinery insurance, as the name suggests, it covers joiners from being liable in many of the same situations that carpenters are covered from. Once again, one of the most common forms of insurance for joinery businesses is public liability insurance.

In most cases, policies will protect joiners and joinery businesses from a certain amount of financial loss as well as public and employers’ liability insurance, up to a limit of multiple million dollars. Some policies will also provide coverage for accidental death as well as tools coverage, in case tools are lost, damaged, or stolen.

Carpenter Insurance Cost

Now that you know what you need to know about the various types of carpenters insurance policies, let’s take a closer look at how much is insurance for a carpenter for each of them. Keep in mind that these are only estimates based on the average carpentry business insurance cost. 

Policy typeCost per monthCost per year
General liability insurance$53$620
Professional indemnity insurance$85$1,002
Public liability insurance$60$714

Rates always vary depending on your specific business. Plenty of factors go into determining how much you’ll pay for your carpenter insurance, including whether you operate independently or you’re insuring a business that employs multiple carpenters. Your workplace safety record will also immensely affect how much you can expect to pay.

The table below helps you further understand carpenter insurance pricing by showing the most recommended companies and their rates per month and year.


Cost per Month Cost per Year Best for
CoverWallet  $29.58 $355 Carpenter insurance quotes comparison online
Thimble  $56.28 $675.36 Short-term carpenter insurance 
NEXT  $63.09 $757.08 Carpenters insurance with a discount
Hiscox $71.56 $858.72 Carpenter insurance for large carpentry businesses


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Picking the Right Carpenters Insurance Company

When shopping around for carpenters insurance services, you’ll want to be sure that you take it slow. Rushing a big financial decision like this one can either leave you with sub-optimal coverage or you can simply end up paying too much for the coverage that you’re getting, and you’ll have a lot of time to regret making the wrong choice.

Start by getting quotes from various carpenters insurance companies to compare and contrast what kind of coverage limits they’re offering you as well as any extras they’ve thrown in. Keep in mind that this may not be quite as straightforward as looking at the prices, since there may be different coverage limits and options that help increase the value of a particular policy.

To get started with your carpenters insurance quotes comparison right away, simply click the 'Get Quotes' button, follow the simple process and receive cheap online quotes from some of the best carpenters insurance companies in America, so you can select the best coverage for your carpentry business needs!

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Best Carpenter Insurance Companies

Here are some reviews showing the best carpenter insurance companies' pros, cons, and pricing for a $1 million general liability coverage. 

CoverWallet Carpenter Insurance

Pros

  • Get covered online

  • Online proof of insurance

  • Live chat support

  • Compare offers and pricings of different carries

Cons

  • Carpentry insurance comes from another company

CoverWallet covers carpentry contractors. Note that the insurance you’ll get from CoverWallet are underwritten by its partners. The company simply sells you the insurance quotes and helps you manage them using the MyCoverWallet App or website.

What types of protection does CoverWallet offer? The company’s carpenter insurance offers general liability, commercial property, and workers compensation. However, it’s best to bundle these three through a business owner’s policy so that you can add additional coverages such as business interruption, commercial auto, and more.

Best for: Carpenter insurance quotes comparison online

Average cost: $29.58 per month

Our rating: 10/10


Thimble Carpenter Insurance

Pros

  • Short-term carpentry insurance

  • Cancel a policy anytime

Cons

  • Carpenter insurance needs endorsements to be comprehensive

Thimble offers a carpenter insurance product only including general liability insurance. However, all is well because you can endorse workers compensation and commercial auto insurance to it. The best part is that Thimble’s carpenter insurance is available as a short-term policy that can cover you for only hours, weeks, or days. Perks Thimble offers are instant proof of insurance and online claims filing.

Best for: Short-term carpenter insurance

Average cost: $56.28 per month

Our rating: 9/10


NEXT Carpenter Insurance

Pros

  • Get a 10% discount when bundling carpenter insurance policies

Cons

  • Rates can be expensive for high-risk carpenters

NEXT offers carpenters insurance that initially offers a general liability coverage with optional tools and equipment coverage. If you’re smart, consider adding workers compensation and commercial property insurance. By doing so, you’ll get a 10% discount. Decide to work with NEXT because it has a network of certified insurance agents that are always ready to help if you don’t know what coverage to get or what to do with your policy.

Best for: Carpenters insurance with a discount

Average cost: $63.09 per month

Our rating: 8/10


Hiscox Carpenter Insurance

Pros

  • Generous policy limits

  • Carpenter insurance includes cyber liability

Cons

  • Some insurance policies for carpenters are not available in selected states

The basic policies included in Hiscox’s carpenter insurance are professional liability, general liability, and tools and equipment coverage. If three policies aren’t enough for you to have comprehensive protection, Hiscox allows you to add cyber liability, commercial auto insurance, and employer’s liability insurance. Note that if you’re a customer with good standing, then you might qualify for Hiscox’s $5 million - $10 million insurance limits.

Best for: Carpenter insurance for large carpentry businesses

Average cost: $71.56 per month

Our rating: 7/10


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