If you own a drywall business, work as a drywall contractor or work as a drywall subcontractor, then you need drywaller insurance. 

Every day, your work involves going into people's homes or commercial properties. Perhaps one day, you install new sheets of drywall in a basement that is in the process of being finished. Then, maybe the next day, you go to an office building that recently had a burst pipe flood the ground floor. You're responsible for making the necessary repairs or completing the needed replacements. 

Since drywall is a big part of most properties across Ontario, your services are truly integral. However, there are many risks associated with working as a drywall contractor, and it's important you are protected from these risks as much as possible. 

On any worksite, there is a chance that operations can go disastrously wrong. While patching a hole in the wall, one of your subcontractors might cut an important electrical wire. Or, a third party might trip over tools left on the ground, possibly injuring themselves. Not to mention the constant threat of theft when you have so much expensive and concealable equipment around. 

Not to mention, for many contracts, you may be required to have drywall contractor's insurance. Certain commercial employers may not hire you without it, and many residential clients will only hire a contractor who provides a certificate of insurance, meaning that skimping on drywaller insurance also has a high probability of causing you to lose out on some work. Give your business the best chance of success while protecting yourself from the worst with a drywaller insurance policy. 

Any business owner understands the risks that come with operating a business. The cost of any form of business insurance is usually quite low, but it is well worth it. A single large out-of-nowhere expense, such as a legal cost or having to replace multiple pieces of equipment at once, can seriously damage the bottom line of any business, especially a small one. Drywall contractors insurance protects your drywalling business from a large variety of situations that could cause it to come crumbling down. 

Additionally, having a certificate of insurance opens you up to several additional clients, meaning that cutting corners by thinking you can save money by skimping on insurance will almost certainly backfire. 

How much coverage your drywall business will need largely depends on the size of your business operations and the risks you are exposed to. A larger company that has a large service area and multiple company vehicles will likely require a more comprehensive drywaller insurance policy than an independent contractor who only works locally and only needs a single consumer-grade truck. If you would like to get an expert opinion on how much coverage you need, it is recommended that you speak to your Morison Insurance broker. 

There are many ways your drywaller insurance policy can protect your tools from loss, theft and damage. That said, there is no one-size-fits-all insurance policy, so it's important to confirm with your broker what your specific policy covers. For instance, commercial property insurance protects your tools from theft while on your premises but not while they are in transit. For that, you need a commercial auto insurance policy—although some insurance companies require both commercial auto insurance and a theft protection add-on. 

Preparation is key for ensuring your insurance application goes as smoothly as possible. A great way to prepare is by familiarizing yourself with questions your insurance broker is likely to ask. For example, at Morison Insurance, we typically ask the following questions when trying to find you the best drywaller insurance possible: 

• What are your gross annual revenues? 
• Do you do any work in industrial, manufacturing or airport sites? 
• When did you obtain your trade license, certification and accreditation? 
• Is this your full-time or part-time job? 
• Do you subcontract work? If so, what percent of your overall operations are subcontracted out? 
• Do you have contracts in place with your sub-contractors? 
• Do you request proof of insurance from your subcontractors? 
• Do you have insurance now? 
• Have you been cancelled/declined/non-renewed in the past five years? 
• Have you had any claims in the past five years? 
• Do you complete any remediation, asbestos or mold removal work? 

Please note that these are not the only questions that might be asked of you, as more might come up, and there might be other information you will want to volunteer. It is recommended that you know as much as possible about your situation before contacting your Morison Insurance broker. 

There are multiple ways that you could save some cash by lowering your drywaller insurance premium without sacrificing the level of coverage that you have. This includes the following: 

• Lower risk with actions such as improving safety or having extra training. 
• Increasing your deductible. 
• Not making claims on small losses to keep your claims history clean. 

Please note that this is not a complete list of factors. If you would like to know more ways to lower your drywallers insurance quote without sacrificing coverage, it is best to speak with your Morison Insurance broker.