As a fire sprinkler contractor, your services are greatly needed to keep people safe, since sprinklers can drastically reduce fire damage. But as you’re working hard to protect people by installing sprinklers in buildings, don’t forget to protect yourself with the right business insurance policy. When you get business insurance—especially general liability coverage—for fire sprinkler contractors, you get peace of mind that’s invaluable for business owners. After all, general liability for fire sprinkler contractors comes with three major types of coverage, each of which protects your business from different situations that could damage your brand and cost you money.
Here’s what you need to know about the coverage you’ll get when you buy business insurance with general liability for fire sprinkler contractors.
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Premises Liability
One of the most important types of coverage for fire sprinkler contractors is premises liability. The point of this coverage is to offer you protection in case any accidents occur at your place of business. For example, if a customer visits your business property and gets hurt—such as by slipping on a wet floor or tripping over equipment—your premises liability coverage will pay for his or her medical bills. Similarly, if someone’s personal property is damaged at your place of business, premises liability will cover the costs of repairs.
This is essential to protect you, because if you didn’t have business insurance, you would be expected to pay for these bills out of pocket or risk being sued. So even though most of your work takes place in the home or business of your customers, you still need premises liability as part of your business insurance if you have an office.
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Products Liability
When your line of work is selling and installing fire sprinklers on a regular basis, you need to make sure your business insurance policy features products liability. After all, no matter how much you believe in the quality of your products, there’s always a chance they’ll malfunction at some point. For instance, they could go off when there’s no fire, which would cause water damage to your customer’s house or business.
If you don’t have the funds to be able to pay for repairs after water damage caused by your products, you’ll be glad to have products liability as part of your business insurance for fire sprinkler contractors. This coverage can pay to replace or repair floors, walls, furniture, and equipment that’s been damaged by your product. As you can imagine, not having this coverage could easily lead to you going bankrupt and losing your business after just a few incidents, which is why general liability is so critical as a fire sprinkler contractor.
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Completed Operations
The third type of coverage included in your general liability insurance is completed operations. This is meant to protect you in case you get customer complaints after installation is complete. So if someone claims the product is not working correctly due to faulty installation, you’ll be expected to fix the issue and pay for any damages that may have resulted from it.
Considering that damages from faulty installation can easily cost thousands of dollars, it makes sense to have coverage to pay for unforeseen issues like this. Plus, having the right business insurance as a fire sprinkler contractor may help you get more customers, as people feel at ease knowing if something goes wrong with your product or service, your policy will pay for the damages so they don’t have to pursue you legally. This is why you should make it clear to customers that you’re properly insured as a business.
These are just the types of coverage you’ll get with general liability insurance for fire sprinkler contractors, which is considered the most basic option. You can add more coverage to your business insurance policy for additional protection. Some examples of extra coverage to consider are commercial auto insurance, workers’ comp, tools coverage, and more. These options can provide protection to your tools and equipment, company cars, employees, and your business as a whole. You should talk to a business insurance company you can trust today to find out what coverage is recommended for fire sprinkler contractors.
