The swimming pool installation industry can be profitable, but the work involves numerous risks. Any pool-related accident or damage can trace back to a contractor; hence, it is important to have swimming pool contractors insurance. This insurance can protect contractors that specialize in installing and maintaining swimming pools from several risks they are exposed to.
Swimming pool contractor insurance is designed to meet or exceed the insurance needs of contractors that install residential and/or commercial swimming pools. Most of these policies provide several coverages that can be adapted for the needs of a specific contractor.
Why it is important?
Insurance policies are designed to protect businesses from the financial damage that can cause them to fail. If you are in the swimming pool construction and maintenance industry, you might have a unique set of risks for which you need to have specific coverage. Your insurance will protect you in various scenarios:
• You are installing a pool at a private property and the child of the homeowner gets injured while playing on excavation equipment that you left there overnight.
• A swimming pool maintained by you is chlorinated due to an employee error and numerous swimmers’ chemical burns on their bodies.
• An employee is responsible for a collision while driving a loaded dump truck from a location where you have freshly dug for a new swimming pool installation.
These are some examples of problems that might arise and can be avoided if you have swimming pool contractor insurance.
Liability Insurance for Your Company
Liability insurance can protect your business from losses by covering financial damages, court costs, legal fees, and much more. If you want to be protected, you must have the right type of liability insurance for your company. Here are different types of coverage plan options available for you:
General Liability: This type of coverage plan includes injuries and property damage caused to others in the event of doing conducting business operations. It includes several liability exposures; it does have exclusions, so this policy is needed to obtain full coverage.
Pollution insurance: If your business does pool maintenance, you must be using and storing several chemicals, including muriatic acid, hypochlorite, and so on. Your policy includes exclusions for damage and injuries caused by chemicals. With this policy, you can cover your business against claims brought about due to over chlorination of water.
Commercial vehicle liability insurance: If your business has cars, trucks, and vans, you need to cover them with commercial vehicle insurance policies. Heavy vehicles like dump trucks will be more expensive to insure; since they can cause more damage in an accident than a small vehicle can.
Rented or non-owned vehicle insurance: If you have rented vehicles or if your employees use their personal vehicles to transport tools and material to the job sites, your business can be sued for liability in case of accidents. To protect your finance, you need this type of coverage plan.
Worker’s compensation insurance: It is not liability insurance, but it can shield your company from liability lawsuits related to workplace injuries. It covers employees’ medical treatment and lost wages if they get injured on the job.
Umbrella insurance: Insurance companies have limits on how much coverage plan they are willing to offer. If you think you need extra liability coverage, you can choose this type of coverage plan.
The above are the types of liability coverage policies available for swimming pool contractors or companies. Depending on your needs, you can choose the right one and protect your business.
