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 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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