Fire accidents lead to property losses, injuries, and fatalities annually. For this reason, the law requires commercial buildings such as restaurants, schools, and hospitals to install fire suppression systems. This is where fire sprinklers come in handy. In fact, the fire sprinkler market is massive, and in 2020, it surpassed $4.3 billion in the US.
A fire sprinkler contractor installs and maintains the fire suppression system. If the fire sprinkler fails, the contractor can be held liable by the building owner. This means you would incur expensive litigation for negligence. As a fire sprinkler contractor, you ought to choose the appropriate insurance for fire sprinkler contractors to counter the potential financial load.
The Types of Insurance for Fire Contractors
Here are two vital insurance for fire sprinkler contractors.
Commercial General Liability Policy
A commercial general liability policy is a must-have for every contractor. This policy provides legal fee coverage for litigation involving bodily injury and property damage claims. It also covers medical and legal costs.
This vital cover safeguards contractors from losses and damages caused by the contactor’s error. For instance, it caters to costs associated with damage emanating from poor system installation. Additionally, it provides coverage for a defense against a lawsuit.
An insurance policy is vital for every fire sprinkler contractor. However, you must choose an insurance company that offers the most suitable coverage for your work needs. Call insurance solutions today, and they will be ready to assist.