Things to Look for from General Liability Coverage
As a swimming pool contractor, it is a good idea to have the right general liability insurance plan to make sure that your business is protected in the event of an accident, physical injury, or lawsuits. General liability insurance is the ideal protection for any type of business as it covers the basic areas of legal liability, including actual or alleged physical damage, property damage, injuries, medical payment, slander, libel and copyright infringement, fire damage, legal fees, court costs, settlement costs, and many more. Even though it is an all-in-one business insurance plan, you still need to check for exclusions. General liability insurance comes with a variety of coverages. Make sure you inform yourself and get clarity on what your policy covers and does not cover. To help you find the right general liability coverage for your business, here are some of the things that you should consider:
The standard general liability policy will depend on the type business. Whether you are a sole proprietor of your swimming pool construction business, or if your business is a partnership. It is recommended to check the stakeholders or important members in your company that you want to include in your general liability coverage and make necessary adjustments on the coverage. This is to make sure that all members of your company are insured and protected.
It is very important to know the amount of your general liability coverage. You need to be aware of the policy limits that your insurance will pay in case of a claim. Make sure that you have enough coverage to protect your business in case of a lawsuit. Remember that lawsuits are expensive and the fees can add up quickly. If you think that you need additional protection aside from your general liability coverage, then it would be wise to consider adding additional coverage.
Be reminded that most general liability insurance plan do not cover subcontractors. If you want to include them in your insurance, make sure that you talk to your insurance agent about it.
If your business offers specialized products or services, you need additional coverage on top of your general liability insurance coverage in order to be fully protected. In the case of a swimming pool contractor, you may want to include pollution liability since your business uses chemicals, worker’s compensation in case your employee get hurt during work, and business auto insurance in the event your truck or vehicle got involved in a collision accident. These are just some of the things that you need to consider when looking for the right general liability insurance plan for your swimming pool construction business.
At CPA, we give members access to a group general liability insurance to help them protect their business. We also give them industry insights and new information to help them in their business via our quarterly newsletter. Aside from that, members also enjoy additional member benefits. If you want to join CPA, you can choose between our two types of membership – Chapter Member of Non-Chapter Member. To get started, just simply fill out the Join CPA Application. We will contact you and evaluate your insurance needs.
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