You take great pride in being able to help the victims of disasters recover as fire and water restoration contractor. Providing the absolute best services possible is something you do your very best to handle. There is a chance that you could face legal problems, despite your best intentions, however. Someone could sustain an injury as a result of faulty equipment, one of your worker’s could be involved in an accident while working, or a client could claim that you did further damage to their property while you were restoring it. It’s important for you to carry the right type of fire and water restoration contractors’ insurance coverage because the risks that are associated with being a restoration contractor. You could face tremendous financial strain that could jeopardize your business and put you in financial distress personally, without insurance. InsureWise LLC can help the fire and water damage restoration experts become properly covered.
Importance of Insurance for Fire & Water Damage Restoration Companies
Fire and water restoration contractors face certain risks, as we mentioned. You could be in serious danger if someone files a claim against you, you, your business, and even your family. It can be astronomical with the costs of handling legal claims. In the event that someone files a lawsuit against you, fire and water restoration contractors’ insurance provide you with the protection you need.
What Insurance Does a Water & Fire Damage Restoration Business Need?
The policies for fire and water restoration contractor include the following list below.
Commercial General Liability Insurance: With personal injuries and property damage, the costs that are associated is covered with commercial general liability insurance. Your insurance will cover medical costs, legal fees, and any compensation that may be awarded if a client is injured as a result of faulty equipment while you a working on a jobsite. type of insurance policy will also cover you if you damage a client’s property and that client sues you.
Property Insurance: You are also going to want to secure commercial property insurance if you operate your business within a commercial setting. Commercial property insurance will protect you if your building or the contents are damaged or destroyed.
Business Auto Insurance: It’s still a wise idea to make sure that you purchase commercial auto insurance if you use vehicles for your business, even if they aren’t company owned. Your policy will cover the cost of any medical care that is required, lawsuits, settlement and legal fees, as well as lost or damaged property if an accident occurs with a vehicle.
Workers Compensation Insurance: Make sure that you have workers’ compensation insurance if you have employees. You will be required to carry this type of coverage if you have any non-owner employees, depending on what state you operate your business out of. When they are involved in a work-related accident that results in an injury, or if they sustain a work-related illness, workers’ compensation offers coverage for employees. In addition to medical care and lost wages, accidental death can be covered as well.
Fire & Water Damage Restoration Company Insurance
Call InsureWise LLC today to discuss your insurance coverage to protect your fire and water damage restoration business.