Fire Sprinkler Contractor Liability Insurance
Residential homes and commercial businesses need to have up-to-date fire resistance and fire protection systems, which include fire sprinklers. When an individual or business owner searches for reputable fire sprinkler contractors, many people prioritize companies with insurance. This is why your business needs fire sprinkler contractor general liability insurance.
General liability insurance is a multi-faceted policy. It’s one of the most valuable types of insurance for companies of all sizes. Fire sprinkler contractor liability insurance is essential in order to protect your business, your employees, and your customers. Plus, you may need to have insurance in order to legally operate in some areas.
What Fire Sprinkler Contractor General Liability Insurance Covers
Fire sprinkler contractor general liability insurance includes different types of coverage. When you purchase a general liability insurance policy, you get the following coverages:
Bodily Injury
Installing fire sprinkler systems involves ladders, power tools, and depending on the job, heavy machinery. Even if you follow the right safety measures, people can still get injured.
For example, a homeowner could trip over a drill cord and hurt their knee. An unsecured sprinkler component could fall and hit someone on the head. If this were to happen, your bodily injury liability coverage would pay for the person’s medical bills, as well as your legal fees if the customer sued you.
Property Damage
Property damage liability coverage will help pay for repairs if you accidentally damage the home or business you’re working on. For instance, if one of your technicians accidentally cuts the wrong pipe, or drills a big hole in the incorrect place, the homeowner or business owner may come after your business for the cost of repairs.
In this case, your fire sprinkler contractor liability insurance would cover the cost of repairs, up to the policy’s limit. It also pays for your legal defense. This includes lawyer fees, a settlement, or judgment with the other party if you get sued.
Products And Completed Operations
Products and completed operations coverage comes with a fire sprinkler contractor general liability insurance policy. As the name suggests, this type of insurance applies to lawsuits that arise after you have completed a sprinkler installation job.
Imagine that you install a new fire sprinkler system in a client’s home. Several months after the job is done, the client notifies you that the sprinklers went off unexpectedly when there was no fire or smoke. They sue your business, claiming that the sprinklers caused extensive water damage inside the house. In this case, products and completed operations insurance would cover your business financially.
Medical Payments
Medical payments coverage applies in small bodily injury liability claims. Let’s say that a customer steps on a nail that your workers left behind. The client needs to go to the hospital and get treatment.
If the client sued your business for bodily injury, the medical payments portion of your general liability insurance policy would pay for their medical bills, up to the policy limit. If the cost of the person’s medical expenses exceeded the policy limit, your liability insurance policy would cover the difference, which typically provides up to $1 million in coverage.
Personal And Advertising Injury
Personal and advertising injury claims are not extremely common for fire sprinkler contractor businesses, but they do happen. This policy covers your legal fees if you get sued for copyright liability, slander, or libel.
Here’s an example of how this policy works. Imagine that you hire a graphic designer to redesign your company’s logo. Once the new logo is printed on all your advertising materials, another business reaches out and claims that you stole their logo. In this case, personal and advertising injury insurance would pay for your legal fees if you were sued for copyright infringement.
Damage To Premises Rented To You
When you rent vs. own your place of business, different insurance policies apply. If you rent office space from a landlord, a type of insurance called damage to premises rented to you will cover the damage in the event of a fire or other peril. This policy only applies when you are liable for the damage.
Most damage to premises rented to you policies also cover short-term rentals. So, for example, imagine you rent a coworking space for a few days to meet with clients while your main place of business gets new windows installed. You start vacuuming the floor before a client comes in, and the vacuum tears a hole in the carpet. Fortunately, your general liability insurance policy would cover it.
Other Insurance For Fire Sprinkler Contractors
Besides general liability insurance, there are several other types of insurance that can be beneficial for fire sprinkler contractors:
What Does Fire Sprinkler Contractor Liability Insurance Not Cover?
Fire sprinkler contractor liability insurance covers many of the most common situations that business owners face. But it doesn’t cover everything. Here are a handful of scenarios that would not be covered by your fire sprinkler general liability insurance policy:
- Intentional injuries or property damage
- Injuries to employees
- Tools and equipment
Before you purchase commercial insurance, it’s a good idea to review your policy details. You can also speak with an agent if you have questions about what your policy does and does not cover. If you find gaps in your coverage, you might be able to purchase supplemental policies that will provide the protection you need.
How Much Is Fire Sprinkler Contractor General Liability Insurance
The cost of fire sprinkler contractor general liability insurance depends on several factors. When you apply for a quote, the insurance company will look at these factors:
- Where your business is located (city and state)
- The number of employees you have
- The type of policies you need
- Coverage limits and deductibles
- Business insurance claim history
Every fire sprinkler contractor company will pay a different rate for general liability insurance. However, the average cost of liability insurance for fire sprinkler contractors starts at $55 per month.
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