Oilfield Welders Insurance in Alberta, Canada
Being an oilfield welder is a lucrative profession, as there is a wide range of work available in rig welding, pipe welding, and other welding services. If you are an independent welding contractor living in Alberta, Canada you can choose your own work and location, and this affords a great deal of freedom. However, with the benefits of being independent comes the increased risks associated with owning your own business, and it is vital to have the right kind of Oilfield Welders Insurance. If not, you could end up with problems like the man in our example story.
George B was an experienced oilfield welder and knew the industry well. Not long ago he started up a business of his own and performed a lot of work for oil companies. In fact, he hired several people and recently landed a job welding pipe for an oil pipeline. The job went well and there were no major problems. However, a few weeks later, George got a call from the oil company claiming that one of his welders didn't properly seal one of the pipes, and they had a major leak to deal with. This was an expensive ordeal as they had to hire a hot tap welder on an emergency basis and there were extensive environmental cleanup charges. Naturally, they wanted George to pay for all the damages, and they wanted to know if George had sufficient Oilfield Welding Contractor Insurance to cover the costs.
George told the oil company rep he would check with his insurance broker and get right back with them. George called his broker and explained the situation. His broker assured George that his insurance would cover the problem and this made George glad he went with an insurance professional that understood his business and provided him with insurance customized to his needs.
What is Oilfield Welder Contractor's Insurance?
If you are an oilfield welder that works for himself, you need to protect your business with the right kind of insurance, to make sure all your risk factors are covered. This insurance is similar to most contractors insurance, except it is designed to fully protect your oilfield welding business.
Who Needs Oilfield Welders Insurance?
Oilfield welders and oilfield contractors should consider this business insurance. It will provide much more protection than a standard contractor insurance package. Also, an oilfield contractor should consider insurance specifically designed for his business, and the insurance packages from some insurers may not be the best solution. This includes:
- Pipeline welders
- Rig welders
- Maintenance welders
- New construction welders
What Oilfield Welding Contractor Insurance Coverage Will I Need?
You should have standard coverage options like:
Which Insurance Options Should I Consider?
The oilfield industry has many things that are unique, and this may require several insurance options, such as:
- Increased liability - you should take out at least 2 million dollars of liability coverage.
- Insurance extensions for medical, tenant liability, personal injury and advertising related damages.
- Firefighting expenses - should a fire start due to your welding there could be extra expenses incurred to put out a fire.
- Healthcare benefits for employees - can include dental and vision health services.
- Pollution and cleanup liability - if someone in your employ causes an oil leak, it could lead to extensive charges for environmental cleanup, and this insurance will cover it.
- ENOL (employer non owned liability) - what if one of your workers was driving his own truck or car for a business reason and had an accident? ENOL coverage will pay for the liability insurance expenses.
Getting the Best Oilfield Welders Insurance for Your Money
If you want the best possible coverage and some of the lowest rates in Alberta, Canada come to a company like Bridge Financial Insurance Ltd. We are not one insurance company with a limited amount of coverage options. We are an insurance brokerage and our people do business with many top insurance companies. For example, when you come to us you may be able to save as much as 40 percent over what you are now paying for your insurance coverage.
Bridge Oilfield Welders Protection Plan
If you have been in business for at least three years, our protection plan is designed to protect your entire business. We can get flat rate insurance premiums for hot tap welders, and it won't matter how many hot tap jobs you perform each year. This represents a huge savings over many plans which charge you for each hot tap. Plus, you have to inform your insurance company before every job. This is not necessary with our plan.
Call Bridge Financial Insurance Ltd toll free at 1-844-669-7284 to talk to someone about your Oilfield Welding Contractor Insurance needs. Or fill out the quote form on the right, and we will contact you