Don’t Get Hosed: Liability Insurance for Pool Contractors
As a pool contractor, you deal with large areas of land to complete a job. Whether you’re building a lap pool, a diving pool or a negative edge pool, you worksite is going to be big. The bigger the job, the greater the chances are that injuries or property damage can occur. Imagine a situation where your crew is spraying gunite and the mix accidently gets spewed on your customer’s pool fence. You may have to turn to your liability insurance for pool contractors to replace it. If that spray happened to hit the customer’s home, you could be responsible for tens of thousands of dollars in repairs if not more. Liability insurance for pool contractors is extremely beneficial if a client decides to sue you for damages or injuries as your pool contractors insurance agency will foot the bill for legal costs.
Secure Your Possessions with Pool Contractors Insurance
Insuring your business property is a wise investment. After all, with all that you put into your business it would be a shame if you lost it all to something like a fire, tornado or theft. There are three basic types of property insurance: basic, broad and special. Basic pays the policyholder if his business property is damaged or destroyed by disasters like fire, vandalism or an explosion. A property insurance policy with broad coverage will pay for all disasters listed in a basic policy but also includes falling objects, weight of ice, sleet or snow, and accidental water damage, according to Associated Content writer Deborah Dera. A special property insurance form covers all perils that could damage or destroy your business premises and its belongings. Your pool contractors insurance policy will list specific exclusions on a special form. Be sure to review your policy closely to ensure all of your insurance needs are covered.
If you lease your business premises, the property-owner is responsible for insuring the building. However, you are responsible for purchasing pool contractors insurance for your business contents. The National Association of Insurance Commissioners recommends you have a contingency plan in case your landlord or your landlord’s insurer is not able to promptly repair the building where your business is located.
A home-based business needs to be insured as well. You may believe that your business belongings are covered under your homeowners insurance policy, but you could be wrong. According to the Insurance Information Institute, a typical homeowners policy provides only $2,500 coverage for business equipment, but for as little as $25 that limit can be raised to $5,000 with a simple homeowners endorsement. Pool contractors insurance companies also offer in-home business policies and business owners policies for those who need more coverage.
What Works for You?
At the very least, you should have liability insurance for pool contractors to avoid the possibility of having to pay for others’ injuries, damages and/or lawsuits out of pocket. Just one lawsuit could essentially put you out of business. Whether liability insurance for pool contractors suits your needs or you require more specialized pool contractors insurance coverage, you can find savings if you shop around. NetQuote is a free service that can get you several quotes from companies offering pool contractors insurance. All you have to do is fill out an easy form explaining your needs. We’ll then gather quotes from numerous companies that match your criteria and send the results straight to your Inbox.
See how much you could save today on your insurance. Get your free business insurance quotes today!