Woodworking Business Insurance

Woodworking Business Insurance

Reliable, comprehensive insurance protection for woodworkers and woodworking businesses.

Zensurance - Woodworker

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Woodworking Professional

Insurance for woodworkers

As rewarding as woodworking can be, it’s also a dangerous profession. Injuries and accidents are a prevalent risk when working with wood, saws, laser cutters, and other tools even for veteran woodworkers, cabinet makers, carpenters, and craftspeople. A customized woodworking business insurance policy is designed to protect these professionals from the liability risks they face.

Woodworking insurance is a bundled policy comprising multiple coverages that are tailored to address your unique circumstances. The combination of wood, sawdust, flammable glues and finishes, and electric machinery can lead to expensive accidents, third-party lawsuits, and unexpected mishaps that could put you out of business. 

A woodworking businses insurance policy from Zensurance is designed to protect you and your finances when things go wrong.

A comprehensive woodworking insurance policy typically includes the following coverages:

  • Commercial Property Insurance: Commercial property covers the cost of loss or damage to your workshop and office, inventory, and contents resulting from fire, flood, a natural disaster, theft, or vandalism. It may also include business interruption insurance to cover the cost of lost net income following an insurable loss.
  • Tools and Equipment Insurance: It’s wise to invest in protecting your tools of the woodworking trade. Tools and equipment insurance pays to repair or replace any transportable tools and equipment you use if they are lost, stolen, or damaged by fire or flood.
  • Equipment Breakdown Insurance: Also called boiler and machinery insurance, equipment breakdown coverage protects the machinery you use in your workshop or sawmill should they fail because of a mechanical malfunction, electrical short, or power surge. It also covers your office equipment, such as computers, photocopiers, and fax machines.

Depending on your business, there may be other types of coverages you require. Speak to a licensed Zensurance broker about your company and the work you do. They can advise you if you need to add other coverage types to your policy.

The cost of insurance for a woodworking business or professional varies by insurer. There are several factors insurance providers consider when determining a price for your policy, including: 

  • The types of products you produce and services you provide
  • If you use flammable materials
  • Whether or not you have a dust collection system
  • The value of your lumber inventory and where it is stored
  • Years of experience
  • Number of employees and their levels of experience
  • Where your shop is located
  • The tools and equipment you own
  • Previous insurance claims
  • Annual and projected gross revenue

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Common claims scenarios

wood table

Problem: After refinishing wooden tables for a restaurant, you are named in a lawsuit by a family claiming their children fell ill after ingesting the finish.

Outcome: Your commercial general liability insurance may pay for the family’s medical expenses, cover your legal defence fees, and any out-of-court settlement or court-ordered compensation awarded to the family.

workshop on fire

Problem: Overnight, an electrical short triggers a fire in the walls of your workshop, causing significant damage to your property, the contents inside of it, and your inventory.

Outcome: Your commercial property insurance may pay to repair the damage to your workshop and replace your contents and inventory.

electric saw

Problem: The circular saw you use to help create furniture is damaged during a lightning storm that causes a power surge in your workshop.

Outcome: Your equipment breakdown insurance may pay to repair or replace the damaged saw.

Frequently asked questions

Do I need additional coverage if I apply varnish to my wood finish?

Yes. You should consider adding pollution liability coverage to your policy if you use toxic, flammable substances or chemicals in your woodworking shop.

I was hired on a renovation project as a subcontractor. Do I need my own insurance?

Yes. All subcontractors should carry liability insurance to protect themselves. Many general contractors or customers will not hire you if you don’t have coverage.

Does my woodworking insurance cover finished products while they’re being shipped?

Yes. The tools and equipment portion of your policy covers the cost of damage or loss to your finished products while in-transit or being shipped overland.

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Protect your woodworking business with a comprehensive insurance policy from Zensurance. 

Fill out an online application to get a free quote. Our licensed brokers will shop our partner network of more than 50 insurance companies to get you the coverage you need at an affordable price.