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EIFS & Insulation Contractors Insurance: Quote From $13/month

For your best business protection and savings, we recommend bundling GL with some other important coverages on one Business Owners Policy!

For your best business protection and savings, we recommend bundling GL with some other important coverages on one Business Owners Policy!

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As an EIFS contractor, a lot of upfront planning, monetary investment, and attention to day-to-day operational details go into ensuring that your clients get the best non-load cladding systems for their exteriors. Unfortunately, even with the aforementioned, mistakes still occur, which puts your business and reputation in jeopardy.

It is best that you take on a more proactive role in protecting your business and everything you've worked hard to accomplish. After all, your insulation projects are as risky as water restoration projects.

That's where EIFS insurance comes in. This is an insurance program consisting of different policies that protect EIFS contractors from claims related to property damage and bodily injury from clients, members of the public, or disgruntled sub-contractors.

Read this guide to:

  • Know the cost of each policy commonly included in EIFS contractor insurance plans

  • Learn how each type of coverage for EIFS contractors works and compare quotes

  • Know the pros, cons, and rates of the recommended companies for EIFS contractor insurance

EIFS Insurance Cost 

The table below shows the cost of the most essential types of EIFS insurance coverage you need to get:


Cost per MonthCost per YearDeductible
General liability insurance$41$492$0-$500
Errors and omissions insurance$56$672$500-$1,000
Workers compensation insurance$89$1,068$2,000-$5,000
Commercial property insurance$50$600$1,000-$2,000
Commercial auto insurance$55$660$500-$1,000

 

EIFS insurance cost $41 per month or $492 per year for a $1 million general liability insurance. This assumes that you have 5 employees and generate an annual revenue of $500,000-$750,000. 

There are certain steps you can take to improve your chances of getting cheap EIFS insurance. For instance, consider: 

  • Instituting better internal procedures 

  • Adopting specific loss control procedures 

  • Investing in continued education on EIFS

  • Getting high deductibles

  • Removing add-ons from general liability insurance if you don’t need them

  • Have clients sign off hold harmless agreements

  • Becoming a registered member of EIMA 


If you were to work with the best EIFS insurance companies available, here's what you'd pay in premiums:


Cost per MonthCost per YearBest for
NEXT$37$444Best overall; Fastest general liability insurance for EIFS contractors
CoverWallet$39$468EIFS contractor insurance quotes comparison online
Tivly$41$492Comparing EIFS contractor insurance quotes over the phone
Thimble$43$516General liability insurance with numerous add-ons for EIFS contractors
Hiscox$46$552General liability insurance  with worldwide coverage for EIFS contractors

Compare Cheap EIFS & Insulation Contractor Insurance Quotes Online

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EIFS Liability Insurance


CoverWalletNEXT(Best)ThimbleHiscox
Per occurrence limit $1,000,000$300,000/$1,000,000$1,000,000/$2,000,000$2,000,000
Aggregate limit $2,000,000$300,000/$2,000,000$1,000,000/$2,000,000$2,000,000
Products and completed operations aggregate limit $2,000,000

$1,000,000$1,000,000$1,000,000
Advertising injury coverage aggregate limit $1,000,000$1,000,000$1,000,000$1,000,000
Tenant’s legal liability coverage limit 
$300,000/$1,000,000
$300,000$100,000$100,000
Waiver of subrogation included?YesNoYesCan be included
Hired/non-owned auto liability coverage included?YesNoNoCan be included
Equipment breakdown floater included?No YesYesCan be included
Can you get a certificate of insurance online?YesYesYesYes
Name additional insureds?YesYes
YesYes
Deductible$0$0$0$0


As with any other related work such as siding installation and masonry work, EIFS installation is rife with risks. 

Consider this. You might hire an independent contractor and he might fall from a height. Besides, you likely work with dangerous equipment that could harm third parties. 

Finally, installing EIFS and other insulation materials means that you are always working with materials packaged in large quantities. While moving these, you might damage the inventory or your customer's property. 

To protect yourself from the financial, legal, and reputational damage linked to claims filed citing any of these, it is important that you invest in EIFS general liability insurance. Use the table above to compare the general liability policies of the best EIFS insurance companies. 

100% of contractors purchase EIFS liability insurance. This provides coverage for the following when a claim is filed:

  • Medical treatment of the claimant

  • Reimbursement for the damaged property of the claimant

  • Legal defense costs

  • Court judgments



EIFS Contractor Errors And Omissions Insurance


CoverWallet (Best)NEXTThimbleHiscox
Per occurrence limit $1,000,000$10,000/$25,0000$1,000,000/$2,000,000$250,000/$2,000,000
Aggregate limit $2,000,000$20,000/$50,000$1,000,000/$2,000,000$250,000/$2,000,000
Name additional insureds?YesYesYesYes
Waiver of subrogation included?YesNoYesNo
Deductible $500$500$500$500


Further, by the nature of EIFS contracting, the general contractors and other clients will be relying on you to offer professional advice on what EIFS or other insulating products to get. They will also be counting on you to have exceptional skills for seamless installation. 

When the client feels that your advice resulted in financial loss or property damage, they are likely to sue your business. While you might be the best EIFS contractor around and have a foolproof business, mistakes will inevitably occur.

It is given this eventuality that you add an errors and omissions (E&O) coverage in your EIFS insulation contractors insurance. Use the table above to compare the quotes of errors and omissions insurance for EIFS contractors. 

Also known as professional liability insurance, this policy covers:

  • Inaccurate advice

  • Accusations of negligence 

  • Missed deadlines 

  • Breach of contract 


This means that if you failed to disclose a defect on the EIFS selected, failed to complete work by the set date, or were accused of providing less than stellar workmanship, then the professional liability policy for EIFS contractors, roofing contractors, and drywall contractors would pay for: 

  • Legal defense costs 

  • Court  judgments

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EIFS Contractor Tools And Equipment Insurance


NEXT (Best)ThimbleHiscox
Aggregate limit$5,000/$10,000$2,500/$5,000$5,000/$25,000
Covers hired and borrowed equipment?$5,000/$10,000$2,500/$5,000No
Miscellaneous equipment also covered?$5,000/$10,000NoNo
Offered as an endorsement to general liability insurance?YesYesYes
Deductible$500$500$0


You likely have invested in power tools and other safety supplies that are essential to your business. As these are important, you want to ensure that they are sufficiently protected. 

That's why you ought to consider investing in a tool and equipment policy, similar to what tile contractors and fence installers do. This protects owned, hired, and borrowed equipment. Use the table above to compare the quotes of tools and equipment insurance from the best companies.

Tools and equipment insurance kicks in when your business’s equipment gets damaged or lost because of:

  • Fire

  • Theft

  • Vandalism

  • Operator error

  • Impact

  • Water

 

Note that this policy in EIFS insulation insurance comes with exclusions. For instance, it doesn't cover corrosion, rust, or normal wear and tear.


Commercial Property Insurance For EIFS Contractors 


CoverWalletNEXT (Best)ThimbleHiscox
Building coverage limit (minimum)$50,000$310,000$25,000/$500,000$25,000
Contents coverage limit (minimum)$50,000$31,000$25,000/$500,000$25,000
Outdoor signsExcluded$2,500ExcludedExcluded
Accounts receivable ExcludedExcluded$5,000/10,000Included
Money and securitiesExcluded$2,500$1,000Included
Lock and keys Excluded$2,500ExcludedExcluded
Business interruption floaterExcludedIncludedIncludedIncluded
Equipment breakdown floaterExcludedIncludedExcludedExcluded
Inland marine insurance floaterExcludedExcluded$10,000Excluded
Employee dishonesty floaterExcluded$5,000$2,500Included


For starters, you will likely lease, rent, or purchase an office or warehouse space where you perform administrative tasks or store equipment, EIFS supplies, and more. 

The building itself and the contents therein are susceptible to theft, vandalism, fires, extreme weather events, and other perils. 

It is given this risk that you ought to invest in commercial property insurance for EIFS contractors. Use the table above to compare the quotes of commercial property insurance from the companies we recommend. 

A commercial property insurance policy for EIFS contractors, plastering contractors, and paving contractors protects the building and its contents and helps you pay for repairs to the building or the cost of replacing stolen or damaged inventory. 

It would be best that you invest in business interruption coverage, which is often included as an optional policy in commercial property insurance. This policy reimburses you for any ongoing expenses, including rent, salaries, and lost income if you need to relocate, renovate the office, or wait for an economic crisis to pass. 


Commercial Auto Insurance For EIFS Contractors

Commercial auto insurance for EIFS contractors, swimming pool contractors, and door installation contractors grants a shield if something happens while you’re using a vehicle for commercial purposes. Here’s a summary of its functions:

  • Cover the medical treatment of persons who got injured  or had their property damaged because of an accident your vehicle caused

  • Cover the repair or replacement of your vehicle’s parts that got damaged because of fire, theft, vandalism, and other covered perils

  • Pay the medical treatment of your commercial vehicle’s driver and passengers if they get involved in a vehicular accident caused by an uninsured/underinsured driver


Workers Compensation Insurance For EIFS Contractors 

An additional policy you must get as an EIFS contractor with employees is worker's compensation insurance. 

This policy protects your business against losses when an employee experiences an occupational disease or injury and asks for compensation. Workers' compensation insurance will pay for: 

  • Medical expenses 

  • Lost wages 

  • Retraining 

  • Disability benefits 

  • Death benefits 

 

It is important to note that most states mandate that any business with employees purchase workers' compensation insurance. This might even be a requisite for getting a business license.

Further, note that your workers' compensation policy will likely not cover your subcontractors as these are not considered to be your employees. The same is true for volunteers and interns. 


Employee Dishonesty Insurance For EIFS Contractors

As a contractor working with a team of employees, you've got to protect your business from the costs of theft, dishonesty, and fraudulent acts committed by your team. Suppose there were claims of forgery, alteration, theft, unauthorized electronic funds transfer, credit card fraud, or counterfeit fraud. In that case, this policy will cover your losses. 


Flood And Hurricane Insurance For EIFS Contractors

If you run your business in an area prone to floods or hurricanes, you ought to purchase flood or hurricane insurance. Note that most basic commercial property insurance policies might not cover flood or hurricane damage. As such, you want to stay proactive by having your provider add this to your basic coverage. 


Inland Marine Insurance For EIFS Contractors

This policy covers your tools, equipment, and inventory while they are in transit. If any of these were to be stolen on-site or damaged during transit, the inland marine policy would cover the costs of their replacement or repair.

Compare Cheap EIFS & Insulation Contractor Insurance Quotes Online

Get all the best quotes from leading providers in a click of a button!

Best EIFS Insurance Companies 

When looking for an EIFS insurance company, you want to work with an insurer who's able to write a project-specific policy at the last minute but also one that will help you write a solid application from the start of the project. 

The following is a list of the best EIFS insurance companies. Read to know their pros, cons, and rate for a $1 million general liability insurance. 


NEXT EIFS Insurance 

Pros

  • Best overall

  • Get an online proof of insurance and send as a text message, email, or social media post

  • Fastest general liability insurance for EIFS contractors 

  • Great customer service and reputation

  • Issues an online proof of insurance instantly

  • Outstanding value for money

  • Bundle two or more insurance policies and get a 10% discount

Cons

  •  Couldn’t find any

Launched in 2015, NEXT's selling proposition is that it can provide affordable insurance products to small businesses. Other than the affordability perspective, NEXT is quite attractive for policyholders looking to purchase their business insurance online without having to talk to an agent or a broker. 

NEXT's EIFS insurance policy includes the following: 

  • General liability coverage 

  • Contractor's E&O 

  • Workers' compensation 

  • Tools and equipment coverage 

  • Commercial property coverage 


NEXT offers three plans-basic, premium, and deluxe.  The cheapest is the basic plan, which only offers a general liability policy. Deluxe is the most expensive and can offer these:

  • General liability policy with a per occurrence limit of $300,000

  • Tools and equipment coverage with a per-occurrence limit of $3,000

  • Commercial property coverage with a per-occurrence limit of $310,000

 

Best for: Best overall; Fastest general liability insurance for EIFS contractors

Average cost: $37 per month

Our rating: 10/10 



CoverWallet EIFS Contractor Insurance

Pros

  • Policyholders can purchase their coverage online 

  • Premiums can be paid online

  • Policyholders can cancel their coverage anytime without any fees 

  • Find EIFS contractor insurance quotes online and compare them with a simple click of the button 

Cons

  • CoverWallet is an insurance broker and not an insurance company

CoverWallet’s EIFS contractor insurance offers:

  • General liability insurance

  • Business owner's policy 

  • Worker's compensation insurance 

  • Professional liability insurance 


Offered in partnership with the insurers that CoverWallet works with, expect your general liability insurance to have a limit of between $1 million and $2 million, $2 million in products and completed operations coverage, $1 million in advertising injury coverage, and $300,000 rented premises liability coverage. 

As you shop around for EIFS contractor coverage, be sure to leverage CoverWallet's online quotes comparison tool to find the best coverage option at the most reasonable price.

Best for: EIFS contractor insurance quotes comparison online 

Average cost: $39 per month 

Our rating: 8/10


Tivly EIFS Contractor Insurance

Pros

  • Responsive customer service

  • Call and compare quotes over the phone

  • A partner of many reputable insurance companies 

Cons

  • You need to call to get a quote 

Insurance companies that can’t provide coverage will refer you to Tivly (formerly CommercialInsurance.NET). While it doesn’t have an EIFs contractor insurance program, you can be covered through this company’s generic contractor insurance plan that offers general liability, commercial auto, commercial property, workers compensation, and other business insurance policies. Call Tivly now to compare quotes over the phone. 

Best for: Comparing EIFS contractor insurance quotes over the phone 

Average cost: $41 per month

Our rating: 10/10


Thimble EIFS Contractor Insurance

Pros

  • Quick to issue an estimate of your rates

  • Numerous add-ons on general liability insurance

  • Sells short-term general liability insurance

Cons

  • You can’t reach customer service by calling 

Thimble doesn’t have an EIFs contractor insurance program. Just like Tivly, it grants coverage through its generic contractor insurance plan. Policies offered are general liability insurance and workers' compensation insurance. 

This company’s general liability insurance has a $1 million-$2 million per occurrence and aggregate limit. Add-ons are automatically included and can be removed, such as business equipment coverage, customer property coverage, cyber insurance, and more. 

Best for: General liability insurance with numerous add-ons for EIFS contractors 

Average cost: $43 per month

Our rating: 9/10


Hiscox EIFS Contractor Insurance 

Pros

  • Expert support 

  • 14-day money-back guarantee

  • Choose between various limits and deductibles

  • Worldwide coverage 

Cons

  • Poor customer reviews 

 

If you are a global EIFS contractor in need of tailor-made insurance coverage, consider Hiscox EIFS contractor insurance. This specialist business insurer has been serving customers since 1901, making it possible for your business to leverage this extensive experience. 

Your general liability insurance will have an aggregate limit of either $250,000, $500,000, $1 million, or $2 million. Your deductibles will range between $500 and $10,000. 

Note that Hiscox allows you to add on terrorism coverage, crime, electronic data loss and more. 

If you are just starting out and in need of a helping hand, Hiscox offers you several resources on its website.

Best for: General liability insurance with worldwide coverage for EIFS contractors

Average cost: $46 per month 

Our rating: 8/10 


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