Why Is It So Important to Have Fire Sprinkler Contractor Insurance?

Fires are an incredibly dangerous threat if allowed to spread. That is why it is required by law for commercial buildings to use fire suppression systems. However, even with these preventative measures in place, accidents can still occur, and you may be on the hook for the bill if the installation or equipment are faulty. This is what makes fire sprinkler contractor insurance so important. Just read on to learn more.

The Necessity of Fire Sprinkler Contractor Insurance

Even when the most experienced fire sprinkler contractors install a system, there is risk of faulty installation or the equipment itself malfunctioning. Whatever the cause, if an accident occurs due to a faulty sprinkler system, then legal action can be taken against you. Fire sprinkler contractor insurance acts as your first line of defense in the event that a sprinkler system fails.

Cost of Fire Sprinkler Contractor Insurance

A lot of factors will determine how much your monthly fee will be for fire sprinkler contractor insurance. For example, your geographic location, experience, payroll, and even the sales of your business can all play a part in influencing your monthly premium. That being said, the average monthly cost for fire sprinkler contractor insurance is typically between $87 and $119.

Risks of Fire Sprinkler Contract Work

Fire sprinkler contractors are exposed to a wide variety of risks while on the job that they need protection from. Some of those exposures include:

• Premises Liability: While working on-site, individuals can be exposed to many different types of injury. For example, contractors and passersby can trip over debris and building materials, or slip. While installing fire sprinkler systems, it’s important to make sure the site is secure.
• Workers Compensation: Fire sprinkler installation requires the use of a wide variety of tools; drilling, welding, and cutting, just to name a few. Naturally, being around such tools will put individuals at risk of a workplace injury. Safety equipment itself is not enough – make sure you have insurance coverage as well.
• Crime: It’s important to remember that your fire sprinkler contractors have unsupervised access to money and client property. That is why it is so important to run background checks on your team. In the event that any of them are dishonest and commit illegal activity, then crime exposure insurance will keep you covered.

If you have not yet secured fire sprinkler contractor insurance for your business, then delay no longer – call Insurance Solutions of America today! Our policies are sure to protect you from hefty financial penalties in the event of an accident. Once you are ready to acquire this invaluable insurance policy, speak with one of our experts as soon as possible.