If you run a trades business, you probably already carry some insurance: general liability, maybe workers' comp, maybe a commercial auto policy. The question worth asking isn't whether you have insurance. It's whether you have the RIGHT insurance, & whether it's actually built around the business you have today, not the business you had five years ago.
General Liability Insurance
This is the baseline most trades businesses carry: coverage if someone is injured, or property is damaged, because of your work. The detail worth checking: have your coverage limits kept pace with how much bigger your projects & your business have gotten?
Builder's Risk Insurance
If you're involved in construction projects, builder's risk insurance covers the structure itself while it's under construction, separate from your general liability policy. A lot of owners assume one policy covers what only the other actually does.
Workers' Compensation
Required in most states if you have employees, workers' comp covers medical costs & lost wages if someone on your crew is injured on the job. The gap I see constantly: owners who make sure their crew is fully covered, & then forget to cover themselves the same way.
Disability Insurance for the Owner
If you're the one running the business & you get hurt, does your coverage actually replace YOUR income? A lot of trades business owners have never asked this question, & the honest answer, for many of them, is no.
Umbrella Insurance
This sits on top of your other policies, kicking in if a claim exceeds the limits of your general liability, auto, or homeowner's coverage. It's one of the more affordable policies available for how much protection it provides, & it protects your PERSONAL assets, not just the business.
Life Insurance
If your business depends on you specifically, or if you're the primary income earner for your family, life insurance isn't optional, it's foundational. It's also often tied directly into a buy-sell agreement if you have a business partner.
Surety Bonds
If you're bidding on bigger or public projects, your bonding capacity, the total amount of work you're approved to bond at once, can matter as much as your skill set. Worth understanding well before you need it for a specific bid.
How Often Should You Review All of This?
At minimum, annually, & any time your business changes meaningfully: new equipment, bigger projects, new partners, more employees. Insurance built around your business from three years ago is, functionally, insurance built around a business that no longer exists.
Let's Walk Through Your Coverage Together
Insurance gaps are some of the most common, & most expensive, blind spots I see in trades business owners' financial pictures. At Authentic Wealth Partners, we help clients look at the WHOLE picture: business insurance, personal insurance, & everything in between, so nothing is protected*** by accident, & nothing is left exposed by oversight.
If it's been a while since you've reviewed your coverage, let's put a real review on the calendar.
***Guarantees are based on the claims paying ability of the issuing company.