Without a business owner’s policy, your business may be at risk from various property or liability damages. It doesn’t matter how large or how small your company is—these little unexpected risks and damages can cause you some major headaches, especially if you have to deal with many of them all at once or have a major issue come up that could cost your company thousands.
Fortunately, many of these issues are covered under a carpet installer business owner’s policy. This type of policy can be a lifesaver.
THE BENEFITS OF A CARPET INSTALLER BUSINESS OWNERS POLICY
A business owner’s policy protects a carpet installer’s business from a number of different risks and accidents that occur with specific types of businesses, many of which occur on the property. Generally, only businesses that have retail stores, offices, or buildings need a business owner’s policy, but some carpet installers do require one.
A carpet installer will be most interested in the guidelines related to contractors and construction businesses. They do qualify for business owners insurance, but again, there will be specific requirements and exclusions in the policy.
Business Liability
If a customer or client gets injured due to misplaced tools or an accident caused by an employee or the business, it could become a financial nightmare. Business liability insurance will not only help cover some of these unexpected costs, it will also cover for incorrect marchandise used by the company. It can also help to offset some of the cost of:
- Bodily harm or injury
- Damage to properties
- Finished jobs and products used or installed
- Hospital and medical expenses
Business Personal Property Coverage
While building and structural coverage protects the building itself, business personal property coverage protects the contents of that building. Your property will be protected in the case of fire, water damage, and other unforeseeable events.
Building and Structure Coverage
If any type of damage occurs within any of the specific buildings or structures that are included in the policy, then the insurance will cover the repair costs. It also covers any additions to those properties or any secondary properties you add to the policy.
Business Income and Expense Coverage
When unfortunate event strikes avalibility of operating your business, your business may grind to a halt. Fortunately, business income and expense coverage will help pay for any loss of income plus various additional expenses you may incur during this time, helping you get your business back on its feet.
Valuable Papers, Documents and Receivables Coverage
A carpet installer business owner’s policy may also include coverage for any valuable papers and documents. This protection will cover many of the costs to replace these documents, including performing research or fact-finding again.
Employee Dishonesty Coverage
Employees might not think it is a big deal to take a couple of pieces of left over materials from a job site, but at the end of a year those can add up to cover a couple of your employee’s paychecks. Employee dishonesty coverage will help businesses recuperate from this unfortunate, yet fairly common occurrence.
Additional property coverage
This can protect additional property which is owned by the business and is not currently covered. This can and often times include, fencing, outdoor signs, posts, plate glass, and or gates that the business may be utilizing.
