For your best business protection and savings, we recommend bundling GL with some other important coverages on one Business Owners Policy!
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
The table below shows the cost of the most essential types of EIFS insurance coverage you need to get:
Cost per Month | Cost per Year | Deductible | |
---|---|---|---|
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 Month | Cost per Year | Best for | |
---|---|---|---|
NEXT | $37 | $444 | Best overall; Fastest general liability insurance for EIFS contractors |
CoverWallet | $39 | $468 | EIFS contractor insurance quotes comparison online |
Tivly | $41 | $492 | Comparing EIFS contractor insurance quotes over the phone |
Thimble | $43 | $516 | General liability insurance with numerous add-ons for EIFS contractors |
Hiscox | $46 | $552 | General liability insurance with worldwide coverage for EIFS contractors |
Get all the best quotes from leading providers in a click of a button!
CoverWallet | NEXT(Best) | Thimble | Hiscox | |
---|---|---|---|---|
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? | Yes | No | Yes | Can be included |
Hired/non-owned auto liability coverage included? | Yes | No | No | Can be included |
Equipment breakdown floater included? | No | Yes | Yes | Can be included |
Can you get a certificate of insurance online? | Yes | Yes | Yes | Yes |
Name additional insureds? | Yes | Yes | Yes | Yes |
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
CoverWallet (Best) | NEXT | Thimble | Hiscox | |
---|---|---|---|---|
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? | Yes | Yes | Yes | Yes |
Waiver of subrogation included? | Yes | No | Yes | No |
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
NEXT (Best) | Thimble | Hiscox | |
---|---|---|---|
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/$5,000 | No |
Miscellaneous equipment also covered? | $5,000/$10,000 | No | No |
Offered as an endorsement to general liability insurance? | Yes | Yes | Yes |
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.
CoverWallet | NEXT (Best) | Thimble | Hiscox | |
---|---|---|---|---|
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 signs | Excluded | $2,500 | Excluded | Excluded |
Accounts receivable | Excluded | Excluded | $5,000/10,000 | Included |
Money and securities | Excluded | $2,500 | $1,000 | Included |
Lock and keys | Excluded | $2,500 | Excluded | Excluded |
Business interruption floater | Excluded | Included | Included | Included |
Equipment breakdown floater | Excluded | Included | Excluded | Excluded |
Inland marine insurance floater | Excluded | Excluded | $10,000 | Excluded |
Employee dishonesty floater | Excluded | $5,000 | $2,500 | Included |
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, 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.
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.
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.
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.
Get all the best quotes from leading providers in a click of a button!
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.
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
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
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
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
Responsive customer service
Call and compare quotes over the phone
A partner of many reputable insurance companies
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
Quick to issue an estimate of your rates
Numerous add-ons on general liability insurance
Sells short-term general liability insurance
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
Expert support
14-day money-back guarantee
Choose between various limits and deductibles
Worldwide coverage
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
This company does not care about the people they insure or the people that work for the company. They do stupid meets all day long about quality on calls while injured workers sit in pain waiting for answers but can never get to anyone to help them. This company hires uneducated people to run the company so that nothing important get done. I have heard so many stories about injury workers having bad service. They can’t never get their claims adjuster on the phone and the doctors that this company tells people to go to do not care about their patients causing their injuries to become worse. This company neglect on taking care of people’s injured employees have caused people to end up with disabilities for the rest of their life. if you get insurance under this company you will end up having to hire a lawyer to fight them in court. Do not get a policy with this company. Your employees will pay the price and so will the owners of the company. Honestly they need to get shut down. Avoid at all cost do not get this insurance and do not work for this company.
Terrible customer service. I got this insurance for my Amazon store when I ran one, took a break and cancelled all my subscriptions. I called these guys and they recommended sending an email. They never responded and have been charging me since then. Definitely going to dispute via the bank. Hate when businesses take advantage of other small businesses for their own gain.
I purchased a year long policy for my small business I paid for the year up front. First they sent me the incorrect paperwork and acted as if I had something to do with the mistake. About three weeks later I received a bill for the policy. I then sent countless email as the payment did clear my account. About a week later I'm told they have no record of my payment. Now I have to send any documents proving I said then. It went on for weeks. More requests of proof from this person then another. Every conversation had an under lying tone of me being dishonest. Finally I just gave up with them and filed a despite with my bank which took all of three days.. So now I'm continuing to receive emails that my policy is past due and will be cancelled. Funny, I was told I didn't have a policy because they couldn't locate it.
Purchased the General Liability policy I needed to fulfill a contract for my hiring party. Simply Business made it very easy to complete an application and review multiple quote options. Ended up purchasing a policy for 1/2 of what I originally was told by my agent.
I insured my small business with them from early 2016 to January 2022. I had a workman's compensation policy with them the entire time for my staff of approximately 10 people which fluctuated up and down minimally over the years. We ran a very safe operation and never had so much as one claim. I sold my business in early 2022 and cancelled my policy which triggered a final audit of $2871.00 which was owed back to me. Of course I dissolved my LLC immediately after selling the business and thus closed my bank checking account at the advise of my accountant. Though my name was on the business policy, Employers Preferred Insurance Company refused to issue a check to me directly as the policy holder due to...you guessed it, policy. Long story short, if you sell your business keep a small amount deposited in the checking account because it's almost a guarantee that companies such as Employers will use their policy to weasel their way out of money owed after the dissolution of a business. I should have known that I would be treated a just another number shortly after I signed with them as the sales agent just disappeared after I was set up for an online account to manage my policy. My next business venture will entail me working with an actual insurance agent who has an office in an actual brick and mortar building!