Welding Insurance: Essential Protection for High-Risk Work

A welder can operate in virtually any construction field available and the job opportunities can be limitless. But the field involves risks. It is crucial to ensure your company is prepared with the proper business insurance protection and ready to proceed when the jobs start arriving.

Types of Risks Welders Face

A welding contractor is exposed to numerous health hazards such as highly toxic dust, smoke, and fumes. Heated metals produce vapors that condense into microscopic airborne particles that can be inhaled and settle in the lungs, creating serious health problems. From asthma to heart disease and from cancer to reproductive problems, the risks are enormous.

Installing capture-at-source ventilation such as downdraft tables and portable fume extractors as well as ambient air cleaning solutions are all excellent options as effective ventilation. But that's only part of the solution. Failure to professionally train employees on how to effectively use the capture zones and improper maintenance of the equipment can lead to illnesses from exposure to the airborne matter.

Besides the risk of inhaling weld fumes, welders are also exposed to the potential for fire and explosions. These are just several specific instances as to why it is important to have a business insurance policy in place to shield your business, tools, employees, and your assets.

Who Needs Welding Insurance?

There are literally thousands of different industries that utilize contractor welding on a daily basis, including companies involved in:

• Excavation, Earth Moving Companies & Mining
• Factory Shutdown Welding
• Ironworkers
• Oil and Gas Industry
• Production Jobs
• Robotic Welding
• Small Local Welding Companies and Fabrication Shops
• Structural Steel Welding
• Underwater Welding Jobs

While the hiring company might have shared risks, your most important obligation is to safeguard the safety of your employees, your assets, and your business as a whole. This is where a welders insurance policy or a business owner's policy becomes useful—it can be essential to your business surviving any major claims.

General Liability Insurance for Your Business

General liability coverage is the minimum protection you require to shield your business. In summary, this is what general liability coverage provides:

• Bodily injury coverage/medical expenses
• Property damage coverage
• Personal and advertising injury
• Products and completed operations coverage
• Damage to rented property
• Legal defense and settlements

General Liability Coverage [Explained]

Bodily Injury Claims: Pays the expense of medical bills in the event bodily injury is incurred to a third party at your business location or job site. When a guest slips and falls and breaks their arm, their medical bills would be covered.

Completed Operations Claims: Claims arising from services or finished products that have caused injury due to inferior workmanship are also covered—including legal expenses.

Personal and Advertising Injury Claims: When you advertise, i.e. on social media, it pays the expenses associated with copyright infringement, slander, libel, slander and invasion of privacy.

Property Damage Claims: A general liability policy pays legal expenses in the event someone claims that your employee or business damaged their property.

What Other Insurance Do Welders Need?

Coverage for welders—in addition to general liability coverage—can include:

Professional Liability Insurance: Professional Liability Insurance—sometimes called Errors and Omissions—is essential to shield you against professional errors you or your employees make during a project (including "professional advice" given).

Business Owner's Policy (BOP): A BOP might also be a coverage type to evaluate. This policy type combines certain protections, typically general liability and property coverage—often at a discounted rate. When you need property protection for your business, look into this protection.

Commercial Property Insurance: This shields the location of your business from damage incurred by natural disasters such as fire and damage due to theft/vandalism. The coverage protects your equipment and everything within.

Inland Marine Insurance: Welding tools and equipment are expensive—so you should do everything possible to shield them. Commercial auto coverage often excludes protection for tools when they're damaged or destroyed in an accident. Inland marine also shields your tools while they're offsite at a job site.

Workers' Compensation Insurance

Welders know their industry's risks. From on-the-job welding accidents to contracting serious illnesses from exposure to weld fumes, your business could be held responsible for the costs—from immediate medical bills to legal as well as ongoing costs depending upon the nature of the injury/illness. Welding businesses require the protection of a workers' compensation insurance policy—not only for the medical and legal costs but also for employee's lost earnings while on leave.

Commercial Auto Insurance

When your welding business requires you and your employees to travel regularly to worksites, then you require commercial auto coverage (frequently called business auto coverage). The policy will pay vehicle repair, medical bills, and any legal expenses resulting from an auto accident.

How Much Does Welders Insurance Cost?

A very basic general liability protection with limits up to $300,000 can begin as low as $29 monthly. However, welders business coverage typically runs between $500 to $1,500 annually. Each additional protection you buy will affect the price. The different variables that affect the expense include:

• Location of your business
• Number of employees
• Deductible and limits you choose

Why Do I Need A Welding Insurance Policy?

When you're in the welding business, you want to project knowledge and expertise to your customers, but you also want to shield yourself in case the worst occurs. That's why insurance protection is a must when you're going to run a serious welding business.

When you carry welding business coverage, you advertise peace of mind to your customers. You're letting them know you understand mistakes can occur, and you won't let them bear the burden if one does. At the same time, you're also shielding your welding equipment from being stolen and protecting yourself from bodily injury. While you can do everything best to prevent any mishaps from occurring, sometimes, things can go wrong despite your best efforts. For instance, you might need to create a second problem in order to fix the first one. Carrying welding business coverage can shield you and your assets when you run into a situation where you'll need to repair additional damage you created to fix the first issue.

Get a Welder Insurance Quote Today

Let Harper help you shield your welding business and maintain your peace of mind. Our goal is to help you find the best business coverage as efficiently as possible. Complete the form at the top of the page to have one of our agents reach out to you.