Fire sprinklers have been a part of commercial buildings like schools, office buildings and factories for over 100 years. They have saved an untold number of lives.
Recently, there has been a movement toward having fire sprinklers in homes and for good reason:
- According to the United States Fire Administration (USFA), a part of FEMA (Federal Emergency Management Agency), in 2010 there were 362,100 residential building fires.
- A fire occurs in a residential structure every 87 seconds.
- Residential fires caused 2,555 civilian fire deaths and 13,275 civilian fire injuries.
- Residential caused $6.6 billion in property damage.
According to the National Fire Protection Agency, sprinklers decrease the fire death rate per 1,000 reported home fires by 83% and the average loss per home fire by 71%.
Homeowners who have a fire protection sprinkler system, among its many other advantages, usually receive a healthy discount on their insurance premium. It has become affordable and some US communities have even initiated or plan to initiate fire sprinkler ordinances for new construction.
This could obviously be a source of new business for you. In order to get it, you will have to show the homeowners, home builders and homeowner’s associations that you have very good insurance along with other solid business practices.
Fire Sprinkler Protection Contractors Can Get Solid Insurance At USA Business Insurance
There will be several insurance coverages you will want to consider:
- Depending on the number of employees you have, their status (employee or independent contractor), hours worked and state, you will most likely need some form of workers compensation insurance.
- General liability is probably the most important piece of your insurance coverage program. It covers you against on-premises property damage and/or bodily injury.
- Since your personal auto insurance policy will not cover any of you or your employees while driving personal cars to do company business, you may need a commercial auto policy.
- Errors and omissions insurance, also called professional liability, covers you against any negligence you inadvertently might get charged with in the performance of your job.
You want to make sure that every part of your business that is vulnerable to risk is properly protected. If you have a claim against you that is not covered, it could mean a significant financial loss and the demise of your business. Even if you are not found liable in a lawsuit, one could still cost you a lot of money.
Contact USA Business Insurance today for more information about a good insurance program customized for your fire sprinkler protection business.
