Buy Fire And Water Restoration Contractors Insurance

Or call for your free quote:

Get the best small business insurance quotes online & info on cost, coverage, minimum requirements, certificates & more.

Fire And Water Restoration Contractors Insurance Policy Information

Fire And Water Restoration Contractors Insurance

Fire And Water Restoration Contractors Insurance. There is nothing much more devastating to a property owner than learning that his or her home or business has been damaged by a fire or water. These types of disasters can completely uproot lives and cause tremendous heartache.

Recovering from fire or water damage can be extremely difficult. It requires the expertise of a professional to ensure that the job is done the right way, and safely.

As a fire and water restoration contractor, you take great pride in being able to help the victims of disasters recover. You also do your very best to provide the absolute best services possible. However, despite your best intentions, there is a chance that you could face legal problems.

A client could claim that you did further damage to their property while you were restoring it, someone could sustain an injury as a result of faulty equipment, or one of your worker's could be involved in an accident while working.

Because of the risks that are associated with being a restoration contractor, it's important for you to carry the right type of fire and water restoration contractors insurance coverage. Without insurance, you could face tremendous financial strain that could jeopardize your business and put you in financial distress personally.

Fire and water restoration contractors 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 fire and water restoration contractors insurance questions:


What Is Fire And Water Restoration Contractors Insurance?

Fire and water restoration contractors insurance is a type of insurance that specifically covers contractors who specialize in restoring buildings and properties that have been damaged by fire, water, or other natural disasters.

This insurance provides coverage for damage to the contractor's equipment, liability protection for third-party injuries, and compensation for loss of income due to the disruption of work. It also covers the cost of repairing or restoring the damaged property, which can be substantial in cases of severe fire or water damage.

This type of insurance is essential for contractors who work in this field, as they are often dealing with emergency situations and need to have the necessary coverage to keep their business running smoothly.

How Much Does Fire And Water Restoration Contractors Insurance Cost?

The average price of a standard $1,000,000/$2,000,000 General Liability Insurance policy for small fire and water restoration businesses ranges from $47 to $79 per month based on location, size, payroll, sales and experience.

Why Do Fire & Water Restoration Contractors Need Insurance?

Water Damage

As mentioned above, fire and water restoration contractors face certain risks. If someone files a claim against you, you, your business, and even your family could be in serious danger. The costs of handling legal claims can be astronomical.

Lawyer fees, court fees, and settlement fees could cost you hundreds of thousands of dollars, if not millions. Imagine having to pay for those fees out of your own pocket? It could put you in serious financial ruin and force you to close up shop.

fire and water restoration contractors insurance provides you with the protection you need in the event that someone files a lawsuit against you. It offers coverage for things like legal fees, repairs to damaged property, and compensation that you may be required to make to the party who is suing you.

What Type Of Insurance Do Fire And Water Restoration Contractors Need?

As a fire and water restoration contractor, there are a few types of insurance policies that you are going to want to carry. These policies include:

  • Commercial General Liability Insurance: This type of insurance covers the costs that are associated with personal injuries and property damage. If a client is injured as a result of faulty equipment while you a working on a jobsite, your insurance will cover medical costs, legal fees, and any compensation that may be awarded. If you damage a client's property and that client sues you, this type of insurance policy will also cover you.
  • Property Insurance: If you operate your business within a commercial setting, you are also going to want to secure commercial property insurance. If your building or the contents are damaged or destroyed, commercial property insurance will protect you.
  • Business Auto insurance: If you use vehicles for your business, even if they aren't company owned, it's still a wise idea to make sure that you purchase commercial auto insurance. If an accident occurs with a vehicle, 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.
  • Workers Compensation Insurance: Do you employ other people? If so, you are going to want to make sure that you have workers' compensation insurance. In fact, depending on what state you operate your business out of, you will be required to carry this type of coverage if you have any non-owner employees. Workers' compensation offers coverage for employees when they are involved in a work related accident that results in an injury, or if they sustain a work-related illness. It covers the cost of medical care and lost wages, as well as accidental death.

Commercial Insurance And Business Industry Classification


1521: General Contractors-Single-Family Houses

Division C: Construction | Major Group 15: Building Construction General Contractors And Operative Builders | Industry Group 152: General Building Contractors-residential

1521 General Contractors-Single-Family Houses: General contractors primarily engaged in construction (including new work, additions, alterations, remodeling, and repair) of single-family houses.

  • Building alterations, single-family-general contractors
  • Building construction, single-family-general contractors
  • Custom builders, single-family houses-general contractors
  • Designing and erecting combined: single-family houses-general con-
  • Home improvements, single-family-general contractors
  • House construction, single-family-general contractors
  • House: shell erection, single-family-general contractors
  • Mobile home repair, on site-general contractors
  • Modular housing, single-family (assembled on site)-general
  • One-family house construction-general contractors
  • Prefabricated single-family houses erection-general contractors
  • Premanufactured housing, single-family (assembled on site)-general
  • Remodeling buildings, single-family-general contractors
  • Renovating buildings, single-family-general contractors
  • Repairing buildings, single-family-general contractors
  • Residential construction, single-family-general contractors
  • Rowhouse (single family) construction-general contractors
  • Townhouse construction-general contractors

>Fire And Water Restoration Contractors Insurance - The Bottom Line

The amount of coverage you will need as a fire and water restoration contractor depends on several factors; The size of your business, the clients you serve, and the types of properties you work on are just some of the factors that will determine the cost of your coverage.

To find out more about what type of coverage you need and how much it will cost, make sure you speak to a trustworthy insurance broker.

Additional Resources For Contractors & Home Improvement Insurance

Learn about small business contractor's insurance, including what it covers, how much it costs - and how commercial insurance can help protect your contracting business from lawsuits.


Contractors And Home Improvement Insurance

The contracting industry is a field that involves a lot of risks, both for the contractor and for the clients they work for. This is why commercial insurance is so important for contractors. Insurance can protect contractors from a variety of potential losses, such as:

Liability: If a contractor causes damage to a client's property or if a client is injured while on a job site, the contractor could be held legally responsible. Liability insurance can cover legal fees and any settlements or judgments that may be awarded.

Property damage: Contractors often use a lot of expensive equipment and tools, and there is always a risk that this equipment could be damaged or stolen. Commercial property insurance can help cover the cost of replacing damaged or stolen equipment.

Business interruption: If a contractor is unable to work due to an unforeseen event, such as a natural disaster, insurance can help cover their lost income during this time.

Workers compensation: If a contractor or one of their employees is injured on the job, worker's comp can help cover medical expenses and lost wages.

Overall, commercial insurance is an important risk management tool for contractors. It can provide financial protection against a wide range of potential losses, helping contractors to stay in business and continue serving their clients.

Minimum recommended small business insurance coverage: Business Personal Property, Employee Dishonesty, Contractors' Equipment and Tools, General Liability, Employee Benefits Liability, Umbrella Liability, Automobile Liability and Physical Damage, Hired and Non-owned Auto & Workers Compensation.

Other commercial insurance policies to consider: Building, Business Income with Extra Expense, Earthquake, Flood, Leasehold Interest, Real Property Legal Liability, Accounts Receivable, Builders Risk, Computers, Goods in Transit, Installation Floater, Valuable Papers and Records, Cyber Liability, Employment-related Practicesand Stop Gap Liability.


Free Business Insurance Quote Click Here