A Quick Guide on Floor Installers Insuranceby Asad Waheed Consultant
General contractors and homeowners generally hire floor installers or contractors to install flooring, including tile, hardwood, linoleum, and carpeting in new or existing buildings.
Being a floor installer, whether you are working on new building construction, home remodelling or improvement jobs, or home additions, you should ensure that the right type of insurance covers your business interests.
An independent insurance agent can assist you properly and guide you about your insurance options as well as help you build an ideal flooring contractor insurance portfolio.
One of the most critical portions of your floor installers insurance portfolio is liability insurance. It can protect your business financial interests in case of a liability lawsuit by covering legal defence fees, court costs, and financial losses. In addition to liability insurance, your insurance agent will talk to you about:
Commercial general liability insurance
Commonly known as CGL, it covers injuries and property damage caused to third-party interests while doing flooring installation work. It also covers product liability insurance that protects your business if you suggest defective flooring products that can cause damage or injuries to others.
Auto liability insurance
Your flooring installation business might own a van or truck – or maybe more than two vehicles that are used to transport tools and materials to and from the job sites. This insurance covers your business vehicles. It offers higher liability limits than standard auto insurance policies do so that you can protect your business in a better way.
Hired or non-owned vehicle insurance
Suppose any of your business employees are responsible for an accident while driving a vehicle to do a work-related task or while transporting tools and materials to and from a job site, your business may face a liability lawsuit. In this case, this insurance coverage will protect you.
Employment practices liability insurance
This insurance can protect your business from financial losses if a current employee sues for a perceived illegal business activity like harassment, discrimination, or wrongful termination.
It provides your business with liability coverage beyond the limits imposed by your several insurance companies. It will pick you up where your other liability insurance leaves off.
This insurance is required in most states. Even if your company is exempt, it is crucial for the financial well-being of your business. It includes medical expenses for injuries sustained by workers while on the job and more.
To avail these insurance policies to protect your business, approach a reliable, independent insurance agent.
Created on Oct 15th 2020 03:59. Viewed 182 times.