A welder can work in just about any construction field there is and the job possibilities can be endless. But the field comes with risks. It is imperative to make sure your company is prepared with the proper business insurance coverage and ready to go when the jobs come rolling in.
Types of Risks Welders Face
A welding contractor is exposed to many health hazards such as highly toxic dust, smoke, and fumes. Heated metals create vapors that condense into microscopic airborne particulates that can be inhaled and settle in the lungs, creating serious health issues. From asthma to heart disease and from cancer to reproductive issues, 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 a few specific instances as to why it is important to have a business insurance policy in place to protect 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
- 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 may have shared risks, your most important obligation is to protect the safety of your employees, your assets, and your business as a whole. This is where a welders insurance insurance policy or a business owner’s policy comes in handy—it can be crucial to your business surviving any major claims.
What Other Insurance Do Welders Need?
Insurance for welders—in addition to general liability insurance—can include:
- Professional Liability Insurance: Professional Liability Insurance—also referred to as Errors and Omissions—is necessary to protect you against professional errors you or your employees make during a project (including “professional advice” given).
- Business Owner’s Policy (BOP): A BOP may also be a type of coverage to consider. This type of policy combines certain coverages, typically general liability and property insurance—often at a discounted rate. If you need property coverage for your business, look into this coverage.
- Commercial Property Insurance: This protects the location of your business from damage incurred by natural disasters such as fire and damage due to theft/vandalism. The insurance covers your equipment and everything within.
- Inland Marine Insurance: Welding tools and equipment are expensive—so you should do everything possible to protect them. Commercial auto insurance often excludes coverage for tools if they’re damaged or destroyed in an accident. Inland marine also protects your tools while they’re offsite at a job site.
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