Installation Professionals: Find Business Insurance
Your work as a professional installer takes you everywhere – from homes to businesses all over your service area. But between your work and the travel, your risks are cut out for you. You have to plan for potential customer injuries, property damage, auto accidents, and more.
The good news is that installation insurance can protect installers of all walks, including…
- Floor installers.
- Cable TV installers.
- Sign installers.
- HVAC installers.
- Furniture installers.
- Fence installers.
- Drywall and wallboard installers.
- Door and window installers.
- Appliance installers.
- Nonstructural metal installers.
- Exterior insulation finishing systems (EIFS) installers.
- Septic tank installers.
- Siding installers.
Let's take a look at some common installation insurance policies and how they can help protect your business.
General Liability Insurance
As we mentioned above, the installation industry encompasses a variety of professions. In some cases, you may simply show up to perform a service, such as installing cable TV at a customer's home. But if you install doors and windows, customers may come to your showroom to pick out products. Either way, General Liability Insurance can help protect your business if something goes wrong.
General Liability Insurance for installers can help cover your legal bills and damages if a third-party (like a customer or competitor) claims you…
- Damaged their property.
- Injured them.
- Harmed their reputation through libel or slander.
For example, say a customer slips on a wet floor in your appliance store or trips over your equipment while you install flooring at their home. Your General Liability policy can pay for their medical expenses or your legal costs if they sue. It can also cover accidental damage you cause to a client's property while performing your job.
Because many installers are also considered contractors, your General Liability policy may provide coverage if a client claims you did a bad installation job. Check with your agent to see if your policy can address disputes over your finished work.
Installers may also consider investing in a Business Owner's Policy, which bundles General Liability with Commercial Property Insurance. That way you also have protection for your:
- Commercial building.
If your property is damaged or lost because of fire, theft, vandalism, or certain weather events, Commercial Property Insurance can reimburse your business and help you purchase replacements.
Commercial Auto Insurance
When you travel to customers to install a new HVAC system or a septic tank, you have to contend with the risks of the road. That's why you usually need Commercial Auto Insurance. It may cover…
- Damage you cause to another driver's vehicle.
- Bodily injuries you cause to another driver.
- Repairs to your vehicle when it's damaged by a collision with animals, trees, etc.
- Uninsured motorist damage.
A Commercial Auto policy can protect you and your employees whenever you use a vehicle for work purposes. That way, if you get into an accident while on your way to install a sign, your Commercial Auto policy should cover legal fees or the cost to repair the resulting damage.
Worth noting: Even if you use a personal vehicle for work, you may need a Commercial Auto policy to cover your driving activities. Most personal auto policies exclude coverage for incidents that happen during business driving.
Inland Marine Insurance
As an installer, you frequently move inventory, tools, and supplies between jobsites and your office. Commercial Property Insurance can cover these items when they're at your primary location (usually your office), but it can't cover items in transit or at a jobsite. Many installers also purchase Inland Marine Insurance to fill this gap.
Inland Marine is a special type of Commercial Property Insurance that can cover equipment, tools, or inventory no matter where it's located. For example, if you get into a collision while on your way to a client's location, your Commercial Auto policy can cover the damage to the vehicle, while your Inland Marine policy can cover damage to your equipment.
Workers' Compensation Insurance
If your business has employees, your state laws probably require you to have Workers' Compensation Insurance. Each state has its own Workers' Comp laws, so check the regulations in your area.
Workers' Comp can pay for medical expenses when your employees' work causes injuries or illnesses. For example, if your workers hurts his back while moving a washing machine at a client's home, Workers' Compensation can pay for his medical treatment and some of his missed wages while he recovers.