How much does welding insurance cost?

Welders pay an average of $167 per month, or $2,000 annually, for general liability insurance.

Commercial general liability insurance provides financial protection against common lawsuits from customers. It can cover costs if someone sues your welding business over a bodily injury, property damage, or copyright infringement.

This is the average policy for welders who buy from Insureon:

Premium: $167 per month
Policy limits: $1 million per occurrence; $2 million aggregate
Deductible: $500

The cost of a general liability insurance policy depends on factors such as the coverage limits you choose, the size of your business, the amount of foot traffic you have, and any subcontractors or additional insured endorsements.

Learn more about how your premium is calculated and how to save money on your general liability policy.

Construction businesses and welding contractors pay an average of $125 per month, or $1,503 annually, for a business owner's policy. Only small, low-risk businesses are eligible for a BOP.

A BOP is an insurance package that bundles two important types of coverage at a discount. It includes general liability coverage to protect against common lawsuits, and commercial property insurance to cover vandalism, theft, and property damage.

This is the average business owner's policy for a construction contractor who buys from Insureon:

Premium: $125 per month
Policy limits: $1 million per occurrence; $2 million aggregate
Deductible: $500

The cost of a business owner's policy depends on factors such as the insurance options you choose, the size of your business, the amount of foot traffic you have, and the value of your business property.

Construction businesses, including welders, pay an average of $175 per month for workers’ compensation insurance, or $2,101 annually. Most states require this coverage for metalworking companies that have employees.

Workers' comp helps cover medical expenses from work-related injuries and illnesses, such as burns or inhalation of dangerous fumes. Most policies include employer's liability insurance, which covers the cost of lawsuits related to workplace injuries.

There's usually no limit to how much a workers' comp policy can pay for employee benefits, though it depends on state laws.

The cost of a workers' compensation policy depends on factors such as the number of employees you have and the type of work they do. Learn more about how workers' comp costs are calculated and how to save money on your policy.

Welding businesses and other construction contractors pay an average of $42 per month for contractor’s tools and equipment insurance, or $505 annually.

Also called inland marine insurance, this policy covers your welding equipment whether it’s stored off-site, in transit, or at a jobsite. It can pay for lost, stolen, or damaged tools and equipment, such as welders, torches, gas cylinders, cutters, and safety gear.

The cost of contractor's tools and equipment coverage depends on the value of your tools and equipment and the type of work you do. Items valued at over $2,500 may need to be scheduled separately on the policy.

Construction businesses and welders pay an average of $268 per month, or $3,212 annually, for commercial auto insurance.

Most states require this coverage for business-owned vehicles, such as a mobile welder's truck. For personal, rented, and leased vehicles used by your business, look to hired and non-owned auto insurance (HNOA) instead.

Commercial auto insurance covers financial losses in the event of an accident involving your business vehicle. It can help pay for property damage, medical bills, and legal costs. When buying a policy, you'll need to make sure your coverage limits match the requirements in your state.

The cost of a commercial auto policy depends on your coverage needs, the value of the vehicle, and your insurance claims history. Learn how insurers calculate your premium and how to save money on your commercial auto policy. 

Construction businesses, including welding contractors, pay an average of $67 per month for professional liability insurance, or $808 annually. Welders can often add this coverage to general liability insurance for a discount, with the bundle costing an average of $150 monthly.

Professional liability insurance protects welders from legal fees related to accusations of negligence or substandard work, such as failure of a welded item. It's sometimes referred to as errors and omissions insurance (E&O).

This is the average insurance coverage for construction and contracting professionals who buy from Insureon:

Premium: $67 per month
Policy limits: $1 million per occurrence; $1 million aggregate
Deductible: $1,000

The cost of professional liability insurance depends on factors such as the coverage limits you choose, the size of your business, and the welding services you offer. Find out how insurers set professional liability premiums and how to save money on your policy. 

Welding contractors and other construction businesses pay an average of $93 per month, or $1,467 annually, for commercial umbrella insurance. You can buy this policy to boost the limits of your underlying general liability, commercial auto, or employer's liability insurance.

Umbrella insurance provides an additional safeguard and helps welders meet contractual demands for higher limits. When the underlying policy reaches its limit, commercial umbrella insurance activates to cover any costs over that limit.

The cost of commercial umbrella insurance depends primarily on the amount of coverage you purchase.

Welders and other contracting businesses pay an average of $9 per month, or $112 annually, for a surety bond.

A surety bond reimburses your client if you're unable to fulfill the terms of a contract or other agreement. You may need a surety bond to get a contractor's license for certain types of work.

The cost of a surety bond primarily depends on the size of the bond.