Insurance for Woodworkers & Cabinet Makers
Unlike general carpentry, insurance for woodworking business owners aims to provide very unique cover. Because there are some subtle differences in how you operate your business, you require some specific policy wording to gain full financial protection.
A mistake that many cabinet makers end up making is to take out a standard carpentry policy, only to expose themselves to significant risks. Often these risks are only fully understood when it comes to a claims situation and you find out you’re not actually covered.
To make sure that you have the most comprehensive policy for your business setup, we have a dedicated team of commercial insurance representatives on standby to provide you with all the advice you need.
Unique Risks in The Woodworking Industry
Cabinet making and woodworking businesses often work across both the residential & commercial industries. Depending on your main area of expertise, some of the common covers that businesses take out are unique for those in this industry.
Fire & Other Damage
When you have a working environment with a mix of sawdust, wood chips, paints, lacquers, and electrical equipment, the fire hazard risk is very high. It can happen all too easily, even with the most stringent safety precautions. Severe damage to machinery and inventory can result in any business taking a very big hit.
The machinery you commonly use and the working environments of construction sites can pose some significant risks to third parties, both persons & property. For example, a kitchen installation can very easily cause damage to surrounding floors or walls, leaving you on the hook for the repair bills.
Even when an installed product is fully tested, material failure can still happen. If this results in damage to a customer’s property, or even personal harm, having the correct liability coverage is essential.
Some of the equipment & machinery is high-tech and reliant on sophisticated computers, with many workplaces utilising robotic devices. If these break down, repair or replacement costs can be extremely costly, not to mention the instant impact this can have on your business in generating income.
Types of Cover
Dependent on what types and sizes of projects you work on, your risk exposure can be very different. However, here are some of the main things that you should always consider covering:
- Property Damage (Fire & Other Damage) for machinery, fixtures & fittings, stock, and any other business property
- Public & Products Liability
- Flood Cover (this is generally optional and not covered automatically)
- Equipment Breakdown
- Business Interruption
- Glass (both internal & external)
- Management Liability
- Professional indemnity
- Cyber Insurance
Quality Advice You Can Trust
Because of the many unique risks that you can experience daily, it is often not enough to just take out a just a general liability insurance policy. While these may cover some of the common claims, you could still be taking on significant financial risks.
With extensive experience from working with cabinet makers and carpenters, we know exactly what you need in your policy wording to fully protect your financial interests.
This gives you the peace of mind that your business is protected, even in a worst-case scenario.