As a contractor, you may face a wide range of possible exposures, from the everyday risks of injury or property damage to more unusual risks, such as a popped pool or chemical spill. Standard insurance policies may not cover these types of incidents. You need a policy that specifically covers these risks. If your current agent needs to become more familiar with them, they may need to be able to protect your business adequately.
So when looking for swimming pool contractor insurance, you’ll need a broker with the perfect solution for your construction company through exclusive access to insurance programs designed specifically for the construction trades. Whether your company specializes in building, remodeling or operates as a subcontractor for plaster, excavation, tile, concrete, etc., they have to cover all the bases. Here are the basics for insuring contractors that work on swimming pools:
General Liability (GL)
This type of insurance covers injuries or damage to a third party caused by your business operations. This could include someone slipping and falling on your property or damage to their property caused by your work. It is not very common for someone to wander onto your property and get injured, but it is important to consider this type of coverage in case it does happen.
Popped pool coverage, faulty workmanship, and pollution coverage are just a few examples of high-risk situations that are not covered by a standard policy.
Pollution
Mentioned specifically due to its exclusion from most GL policies, you need to buy a separate policy or add an endorsement to your standard policy if you want pollution coverage. Pollution can include anything from a chemical spill to a simple spill that goes down the wrong drain and impacts the water table or environment.
Commercial Auto Insurance
This type of insurance covers vehicles used for business purposes. This can include cars, trucks, vans, and other vehicles. The coverage can vary depending on the insurer, but it typically includes liability coverage, collision coverage, and comprehensive coverage.
If you use any vehicle for your construction business, you need a commercial auto policy. This is because personal policies have an exclusion for business usage. Even if a personal policy offers a business usage endorsement, it is only meant for light commercial use, not construction.
Workers’ Compensation
This type of insurance covers any injuries your employees may suffer while working, whether on the job site, driving to the job site, or at your shop. In 49 out of 50 states, it is mandatory to carry
this coverage, and it is required by law (except in Texas). The coverages vary by state, so you should work with an independent agent who can provide you with various options and advice.
In Conclusion
Insurance protects your business in case of an unexpected event that could cause financial harm. This could include property damage, liability claims, or loss of income. Insurance can help you avoid financial ruin and keep your business running smoothly, so get a policy for your swimming pool contractors today.
Apply for a Policy at Pascal Burke Insurance Brokerage Inc.
Whether it’s for roofing, flooring, or swimming pool contractors, Pascal Burke Insurance Brokerage Inc. is the go-to for general cases and specialty contractors. Inquire now at our website, via phone at 877-893-7629, or through email at info@pbibinc.com!