Facility Support Services Insurance Policy Information
Facility Support Services Insurance. As a facility support services professional, you are dedicated to ensuring that the mission-critical facilities of your clients operate at peak efficiency every day of every year. You have the knowledge and expertise to ensure equipment reliability and uptime in data centers, network operations centers, communications facilities, POP sites and SCIF facilities.
You want to provide support operations within your client's facilities with minimum interruption, so get facility support services insurance coverage for any unexpected risks coming along the way.
Facility support services insurance protects your business from lawsuits with rates as low as $47/mo. Get a fast quote and your certificate of insurance now.
Below are some answers to commonly asked facility support services insurance questions:
- What Is Facility Support Services Insurance?
- How Much Does Facility Support Services Insurance Cost?
- Why Do Facility Support Services Need Insurance?
- What Type Of Insurance Do Facility Support Services Need?
- What Does Facility Support Services Insurance Cover & Pay For?
What Is Facility Support Services Insurance?
Facility support services insurance is a type of insurance coverage designed to protect companies and organizations that provide facilities management and support services. This type of insurance covers a wide range of services, including cleaning, maintenance, security, landscaping, and other facilities management services.
The insurance protects the company against losses or damages that may occur as a result of their work, such as property damage, third-party injury, and other related losses. This type of coverage is essential for companies and organizations that provide facilities support services, as it helps to protect their financial stability in the event of unexpected losses or damages.
How Much Does Facility Support Services Insurance Cost?
The average price of a standard $1,000,000/$2,000,000 General Liability Insurance policy for small facility support services businesses ranges from $47 to $59 per month based on location, size, payroll, sales and experience.
Why Do Facility Support Services Need Insurance?
Legal Liabilities: Facilities support services can be held liable for any damage or injury caused by their work, including property damage, third-party injury, or other related losses.
Protection of Business Assets: Insurance coverage can protect the financial stability of a facilities support services company, by covering the cost of repairs or replacements if equipment, tools, or other assets are damaged or lost.
Compliance with Regulations: Some industries, such as construction or maintenance, may require insurance coverage as a compliance requirement, and failure to have insurance coverage can result in fines or legal action.
Peace of Mind: Having insurance coverage in place can provide peace of mind for the facilities support services company, as it helps to protect against unexpected losses and helps to ensure the ongoing financial stability of the business.
Customer Confidence: Having insurance coverage in place can also demonstrate a level of professionalism and customer confidence, as clients can be assured that the company is fully prepared and protected in the event of any unexpected losses or damages.
What Type Of Insurance Do Facility Support Services Need?
Every facility support services firm has its own unique services that need protection. facility support services insurance presents a comprehensive package that can meet your insurance needs. With the various policies included, you will have the "deep pockets" you need to cover a claim without jeopardizing your firm or your bank account. Following are some of the major coverage types:
General Liability Insurance: No matter the services you provide or how carefully you work, there are certain risks you expose your business to when you staff are working with clients each day. Thanks to the ever-growing reliance on the courts to settle disputes, there is no such thing as a small accident these days. Anyone can be sued; regardless of the safety measures you have in place to prevent accidents on your clients' premises. General liability insurance can protect your firm from financial devastation arising from events you could be liable for.
Worker's Compensation Insurance: Workers comp is required in most states by law for any non-owner employees. It is also usually contractually required by your clients.
You rely on the help of your staff to make sure your facility support services firm runs smoothly. From the receptionists who handle your appointments to the staff working at your clients' premises, your employees help make your business a success. workers comp coverage can pay out for medical bills, loss of work, and other fees incurred to your employees if they are injured on the job.
Business Property / Contents: Usually written on an "all risk" basis, this facility support services insurance covers your normal contents, furniture and fixtures, as well as supplies and specialized work equipment. In most cases the coverage is written on a "Replacement Cost" basis, so current pricing always needs to be considered.
Employment Practices Liability Insurance: EPLI insurance provides the protection you need should one of your employees allege any number of employment practice violations. These violations include race, age or gender discrimination, sexual harassment and wrongful termination. EPLI is essential coverage in today's litigious workplace.
Employee Dishonesty Insurance: The facility support services industry comprises establishments primarily engaged in providing operating staff to perform a combination of support services within a client's facilities. Employee dishonesty insurance offers coverage against direct physical loss of personal property, including money caused by the dishonest acts of your employees.
Commercial Auto Insurance: Even if you do not own business vehicles, your staff may use their auto on your behalf (such as going to the bank, store, clients, etc.) which generates the need for automobile insurance. With this non-owned auto policy, employers ascertain that they are also protected from liability that stems from employees that may use their own vehicles for any errand of your clients. Generally, you need this facility support services insurance policy if:
- If you use your auto to conduct your services.
- You need higher limits of liability then a personal policy offers.
- Haul a considerable weight in tools or equipment used to conduct your business.
- Employees operate the auto or if ownership is in the name of your firm.
Hired Auto - Provides protection for legal liability arising from the use or maintenance of a hired auto.
Cyber Liability: No person or organization is immune from a data breach, regardless of size or even the sophistication of their security. facility support services insurance has an optional cyber liability endorsement that is designed to protect you from losses related to data breaches and cyber-attacks.
Business Owner's Policy: A Business Owner's Policy (BOP) protects your business in much the same way that a homeowner's insurance policy protects your home and personal possessions. By combining two of the most critical coverages for small business - Business Liability and Property - a BOP can save you money while safeguarding everything you've worked so hard to build.
What Does Facility Support Services Insurance Cover & Pay For?
Facility Support Services (FSS) may be sued for various reasons, including negligence, breach of contract, property damage, or personal injury. In such cases, insurance policies can help protect these businesses and cover the financial costs associated with lawsuits. Here are some examples:
Negligence: If FSS fails to adequately maintain a facility, leading to an accident or injury, they could be sued for negligence. Professional liability insurance, also known as errors and omissions (E&O) insurance, can help cover the costs of legal defense and any damages awarded to the plaintiff.
Breach of contract: If FSS does not fulfill their contractual obligations, they may be sued for breach of contract. Commercial general liability (CGL) insurance can provide coverage for legal defense costs and any damages awarded as a result of a breach of contract claim.
Property damage: FSS may be sued if they accidentally damage a client's property while performing their services. Commercial general liability insurance can help cover costs related to property damage claims, including legal fees, settlement costs, and any damages awarded.
Personal injury: If an employee of FSS injures someone on the client's premises, the company could be held liable for personal injury claims. Workers' compensation insurance can help cover medical expenses and lost wages for the injured party, while commercial general liability insurance can help cover legal defense costs and any damages awarded.
Employment practices liability: FSS could be sued for employment-related issues, such as wrongful termination, discrimination, or harassment. Employment practices liability insurance (EPLI) can help cover the costs of defending against such claims and any damages awarded.
Cyber liability: If FSS experiences a data breach that compromises client or employee information, they may be sued for failing to protect sensitive data. Cyber liability insurance can help cover the costs associated with data breach response, as well as any legal fees and damages resulting from the lawsuit.
For each of these examples, the specific insurance policy may help cover the costs of legal defense, settlements, and damages awarded to the plaintiff. It's important for FSS to work closely with their insurance provider to ensure they have the appropriate coverage for their specific risks and to understand the limits of their policy.
Commercial Insurance And Business Industry Classification
- SIC CODE: 8744 Facilities Support Management Services
- NAICS CODE: 561210 Facilities Support Services
8744: Facilities Support Management Services
Division I: Services | Major Group 87: Engineering, Accounting, Research, Management, And Related Services | Industry Group 874: Management And Public Relations Services
8744 Facilities Support Management Services: Establishments primarily engaged in furnishing personnel to perform a range of services in support of the operations of other establishments or in providing a number of different continuing services, on a contract or fee basis, within another establishment. Included in the industry are establishments primarily engaged in the private operation of jails and adult correctional facilities, whether or not providing both management and supporting staff. Establishments primarily engaged in operating juvenile correctional homes are classified in Industry 8361. Establishments which provide management and staff to operate a business are classified according to the type of activity of the business. Establishments primarily providing one specialized service, such as janitorial services or guard services, are classified in the specialized industry. Janitorial services are classified in Industry 7349, and guard services are classified in Industry 7381. Establishments primarily engaged in providing management services only, except agricultural, are classified in Industry 8741. Computer facilities management services are classified in Industry 7376. Establishments primarily supplying temporary or continuing help are classified in Industry 7363. Establishments primarily engaged in providing temporary or continuing help for agricultural purposes and agricultural management services are classified in Agriculture, Industry Group 076.
- Base maintenance (providing personnel on continuing basis)
- Correctional facilities, adult: privately operated
- Facilities management, except computer
- Facilities support services, except computer
- Jails, privately operated
Facility Support Services Insurance - The Bottom Line
facility support service providers face special challenges when looking for the right insurance provider because each service whether janitorial, maintenance, trash disposal, guard and security, mail routing and other logistical support, reception, laundry or else presents unique risks.
Facility support services insurance is very important because it's tailored to fit your specific needs so that you won't be overpaying for something you're not required to have, or missing any kind of coverage that's absolutely essential.
Additional Resources For Miscellaneous Insurance
Find informative articles on miscellaneous businesses including the types of commercial insurance they need, costs and other considerations.
- Adult Daycare
- Agriculture, Forestry, Fishing & Hunting
- Bail Agent
- Control of Well
- Electric Utilities
- Employment / Staffing Agency
- Engraving Business
- Facility Support Services
- Mail Order
- Oil And Gas Lease
- Personal Concierge
- Photofinishing Lab
- Portable Sanitation
- Private Water Districts
- Process Server
- RV Parks & Campgrounds
- Security Guard
- Surety Bonds
- Waste Disposal Landfill
- Wedding Planner
- Specialty Accident And Sickness / AD&D
- Specialty Amusement Parks And Rides
- Specialty Auctions And Farmers Markets
- Specialty Business Risks
- Specialty Communication
- Specialty Design
- Specialty Drugs And Alcohol
- Specialty Employee Protection
- Specialty Energy
- Specialty Environmental Risks
- Specialty Firearm And Shooting
- Specialty Hazardous Materials
- Specialty Health Risks
- Specialty Machinery And Tools
- Specialty Merchandise
- Specialty Mobile And Modular Homes
- Specialty Motorcycle Risks
- Specialty Natural Disasters
- Specialty Oil And Chemical
- Specialty Prize Indemnification
- Specialty Programs
- Specialty Railroad
- Specialty Security Risks And Equipment
- Specialty Substandard Risks
- Specialty Travel
- Specialty Weather Related
Businesses need insurance for several reasons. Firstly, insurance protects businesses from potential financial losses that may result from unexpected events, such as accidents, natural disasters, or lawsuits. This financial protection can help businesses recover from unexpected events and continue to operate.
Secondly, business insurance can provide businesses with liability protection. This means that if a business is sued for damages or injuries that occurred on their property or as a result of their products or services, the insurance company will cover the legal costs and damages. Without insurance, businesses may have to pay these costs out of pocket, which can be financially devastating.
Thirdly, commercial insurance can also provide businesses with peace of mind. When businesses have insurance, they can focus on running and growing their business without constantly worrying about potential financial losses or legal issues.
Finally, business insurance can also be a requirement for certain businesses. For example, many businesses that work with the government or large corporations may be required to have certain types of insurance in order to do business with them.
In conclusion, businesses need insurance for financial protection, liability protection, peace of mind, and to meet certain requirements. It is an important aspect of running a successful business and can help ensure the long-term stability and growth of the company.