Welder Building Insurance Risks

Building insurance protects welders and welding shops from losses to their company buildings, structures, tools and equipment. Without this important welder business insurance, you may find yourself unable to absorb the costs of fixing damaged structures, or replacing destroyed equipment.

Building insurance applies to your company offices, workshops, jobsites and more. If one or more of these areas sustained damages in a storm for example, and you did not carry this type of policy, your company would be left to pay for all of the related expenses on its own. This policy not only protects your primary business operations, but also protects your assets while you’re working at a client location.

Welder Building Insurance

insurance plan for welder buildings

Building insurance coverage for welders and welding shops is critical coverage to have, because it protects the extensive investments you’ve made into your company. It pays for repairs if your shop or office structures are damaged and it pays to replace business property that is inside those structures. It’s particularly useful for mobile welding businesses because it can protect company assets that are damaged while they’re at an offsite location.

There are several ways this insurance coverage helps protect your company:

Occupied Buildings

When you use specific buildings for conducting business operations, your company will face hardship if the building is damaged or destroyed. The building that houses your company’s welding shop for example, or the structure where your public office furniture and computers reside. When your business buildings are damaged, building insurance coverage for welding shops pays to fix them or replace them if the need arises.

New Buildings

If you buy or build a new addition to the welding shop or its office area, your building insurance policy provides automatic protection for that structure before you’ve officially added it to your welders insurance policy.

Personal Property

Inside your welding shop or welding company office building, you have many valuable assets in the form of physical property. The desks and computers in the office for example, and the oxygen bottles inside your shop are business personal property. Inventory that is stored, finished projects not yet delivered to a client and even maintenance or cleaning tools are the types of personal property that will be expensive to replace on your own if something bad happens. Building insurance for welders and welding shops covers the costs for these items if something happens to them.

Off Premises Coverage

If your welding shop provides mobile, on location services to clients then you are always at risk of additional loss. By working off site, you must take tools, equipment and supplies with you to complete the work you’re contracted for. If disaster strikes at that location, your building insurance coverage can absorb the costs and related expenses so that your company is not left in a bind financially and professionally.

Business Interruption

One of the biggest risks involved with building and structure damage for your business, is the associated down time. If your welding shop’s roof caves in because of an unusually heavy snow storm, you will be unable to utilize that shop until the repairs and inspections are completed. This may cause you to lose income due to the interruption in business. Building insurance coverage for welders and welding shops can be configured to cover those losses if the issue ever arises.

Extra Expenses

When disaster strikes there is likely to be a number of extra expenses involved in the recovery. You may have to pay for another office location while yours is being repaired, or you may have extra costs for legal or regulatory reasons. Your building insurance coverage can help with these.

Valuable Papers

Some types of paperwork kept in your office or welding shop is quite valuable and may be difficult or expensive to replace. Valuable papers often include customer lists, invoices, accounts receivable and intellectual property such as custom welding designs or techniques. Building insurance coverage for welders and welding shops helps protect you from the expenses associated with replacing these critical papers when needed.

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