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Installation contractors, be it dealing with drywall installation or HVAC installation - they all require different types of insurance policies in order to keep the business, the staff, and their customers protected at all times.
Lawsuits and claims could be financially devastating for installation contractors, and no matter how careful you and your staff may be, accidents are inevitable.
This is why it's important to get the right installation insurance coverage that provides the exact level of protection your installation business needs.
Below, you can take a look at the different insurance policies that are relevant to installation contractors and what the benefits of insuring your business are.
What Insurance Policies Are Relevant for Installation Contractors?
Installation contractors can provide quite a broad area of installation services that range from dealing with glass to air conditioning units and appliances.
As a result, the risks each of the installation contractors face on a daily basis are different. And because of that, it's likely that no two installation contractors will require the exact same insurance policies.
Either way, below is a list of the most common types of insurance policies installation contractors take out:
- General liability insurance
- Workers' compensation insurance
- Commercial auto insurance
- Contractor's tools and equipment insurance
In some cases, installation contractors also take out professional fee insurance and umbrella insurance.
Which Installation Contractors Can Benefit From Insurance?
Contractor installation insurance policies are relevant for many installation service providers. Below are some of the different installation service providers that can make use of the above-named policies.
Appliance Installation
Appliance installation contractors are exposed to the continuous risk of sustaining bodily injuries from moving, fitting, and installing heavy appliances. In other cases, accidents do happen, which can either lead to permanently damaging the customer's appliance or property, which the contractor will then have to pay for.
This is why as an appliance installation contractor, you should assess the level of risk you and your staff are exposed to and take out the necessary cover.
Ceiling Wall Installation
Ceiling and wall installation contractors are constantly exposed to the risk of sustaining bodily injuries resulting from slips and falls from ladders or scaffolding.
Though rare, such accidents do happen, and that is why it's important to have ceiling wall installation insurance in place.
Door & Window Installation
Door and window installation contractors deal with sharp edges and heavy objects all day every day. As a result, the risk exposure is greater. In many cases, accidents like bodily injury and property damage happen, which can be costly to resolve.
But, when you have door and window installation insurance, you can rest assured that your business is fully covered from all angles.
Drywall Installation
Drywall installation contractors are always exposed to the risk of an accident on stilts, property damage, stolen finishing tools, and more, which can all be costly issues to resolve.
That’s why drywall installation insurance is a must for any large or small drywall installation company.
Fence Installation
Fence installation contractors expose themselves to various amounts of risk every single day. It can range from something as simple as damage to the fence to bodily injuries and property damage, which tend to be a lot more serious and costly to deal with.
That’s why fence installation contractors are always recommended to take out fence installation insurance if they want to keep their business, staff, and customers protected.
Flooring Installation
Flooring installation contractors tend to always work on their feet, and though their job is relatively safe, in some cases, slips, trips, and falls do happen, which can easily result in bodily injuries.
In other cases, accidental damage to your customer's property or flooring material can also lead to financial problems for the contractors. That's why having flooring installation insurance is always recommended.
Glass Glazing Installation
Glass glazing installation contractors work with glass and sharp objects and tools. From cuts and bodily injuries to property damage, the repercussions of the smallest accident can be costly.
However, having glass glazing installation insurance can keep your business, staff, and client protected no matter the accident at hand.
HVAC Installation
HVAC installation contractors tend to work at height every day. This carries an inherent risk of slips and falls that can lead to serious bodily injuries. It’s also pretty common to damage appliances and customer property during the installation of an HVAC system.
As a result, HVAC installation insurance is recommended. That way, everyone in your business and your client is protected.
Siding Installation
Siding installation contractors are constantly exposed to the risk of sustaining bodily injuries from slips and falls, as well as cuts from sharp tools. In other cases, accidental damage to your customer's property or siding material can also lead to financial troubles for the contractors.
This is when having comprehensive siding installation insurance will come in handy, as it can save your business from unnecessary financial trouble.