Swimming Pool Contractor Insurance (Quotes, Cost & Coverage)
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Frequently Asked Questions About
Commercial General Liability Insurance
How much does commercial insurance cost?
Costs can vary widely based on industry and are also determined by zip code and often payroll and/or gross sales. Request a free quote to get an exact number.
What kind of business insurance do I need?
Most business owners need General Liability Insurance at the very least. If you have any non-owner employees, you will need workers compensation insurance too.
What is a Certificate of Insurance?
A Certificate of Insurance is proof of coverage. It lists the type and amount of liability coverage you have and other policy information when a third party requests it.
Is business insurance tax deductible?
Yes. you can deduct the cost of commercial insurance premiums. The IRS considers insurance a cost of doing business as long it benefits the business & serves a business purpose.
Swimming Pool Contractor Insurance
Swimming Pool Contractor Insurance. Swimming pools are becoming a more common part of modern homes, making the job of a swimming pool contractor an important one. As a swimming pool contractor, you will install outdoor swimming pools, in-ground swimming pools, and indoor swimming pools.
Swimming pool contractors install commercial and residential swimming pools, spas, fountains and similar projects that involve water and hydraulics. A swimming pool contractor works with a client to design a pool, orders the materials, and hires and supervises the subcontractors that actually perform its installation. Subcontractors include excavators, electricians, plumbers and cement contractors. Most swimming pool contractors also provide service, maintenance and repair services.
Maintenance of pools will also be an important part of your job. Having the right insurance plan is what keeps you protected as a swimming pool contractor. Get the swimming pool contractor insurance coverage that will keep you and your business protected.
Swimming pool contractor insurance protects you and your truck from lawsuits with rates as low as $67/mo. Get a fast quote and your certificate of insurance now.
The Importance Of Swimming Pool Contractor Insurance
Protecting your business is about having the right insurance policies in place. As a swimming pool contractor, there are many things you could be held liable for. For example, let's say you are installing a pool, and you happen to cause damage to a third party or cause injury by having swimming pool contractor insurance you will be covered. Insurance is important, and the last thing you want happening is to be caught without the right policy protection.
Liability Insurance And The Protection Of Your Business
Lawsuits against your are the biggest risks to your business while working in this field. Lawsuits can cost your company lots of money. From having to deal with the different fees associated with lawsuits you can quickly lose lots of money in your business. With this type of insurance things such as legal defense and other costs will be covered.
Here are some of the different policies you may discuss with the insurance you choose to speak with:
Pollution Insurance: Swimming pools maintenance is a part of your business as a swimming pool contractor. Most times swimming pool maintenance means you'll be working with chemicals. Some of the chemicals used may cause damage. Having this special coverage protects your business when a claim is brought against it while doing this work.
General Liability: This type of coverage is usually a part of any insurance policy you get for your business. Having this coverage protects you if cause damage to a third party while doing pool building or maintenance work. You must keep in mind that this type of policy may have some things excluded from it in which case you will need extra coverage. When you have this type of swimming pool contractor insurance coverage for your business - you can be sure that you are protected.
Commercial Vehicle Liability Insurance: As with any business, you'll be using vehicles to transport different tools and materials to get the work done. Making sure they are covered by insurance is important. If your employees are likely to use their vehicles for transportation of work tools and equipment then having hired or non-owned vehicle insurance is a good option to ensure they are protected while doing so. If your employee were to get in an accident while transporting stuff for the job and they were on work time, they are protected by hired or non-owned vehicle insurance.
Umbrealla Insurance: With this type of coverage, you can get extra liability coverage above the limits offered by your general liability and other underlying policies. If you ever feel like you need more coverage for your business, then this is an option you can consider.
Workers Compensation Insurance: Before beginning any work, you're required to have worers comp insurance in most states if you have any non-owner employees. Although not considered liability insurance it still covers your company from liability lawsuits. If an employee is injured while on the job then having workers' compensation insurance helps with medical bills and lost wages. In the case of a fatality, this insurance coverage pays benefits to the family of the deceased. It's important that you have this insurance because most people before hiring will need to see proof that you have a workers' compensation plan in place.
Swimming Pool Contractor's Risks & Exposures
Premises liability exposures at the contractor's premises may be limited due to lack of public access. If there is a showroom or retail sales of pool supplies, customers may slip and fall over displays. Equipment stored in an open yard may present an attractive nuisance. The storage of flammable chemicals presents a property damage exposure to neighboring buildings.
At the job site, the swimming pool contractor is responsible for the safety aspects of the entire project even after hours when there is no construction activity. Excavation and construction pose numerous hazards. The area of operation should be restricted by barriers and proper signage to protect against trips and falls over debris, equipment, or uneven ground. Digging can result in cutting utility cables, damaging property of the utility company and disrupting service to neighboring residences or businesses.
Absence of detailed procedures to determine utility locations and to research prior uses of the land prior to digging may indicate a morale hazard. Construction sites create an attractive nuisance hazard, especially if work is close to residential areas. Safety barriers such as perimeter fencing may be needed if the excavation work is complete but other construction has not yet started.
Completed operations exposures can be severe. The swimming pool design, the quality of the construction materials, and the details of the project are all critical. If the swimming pool contractor fails to maintain the appropriate level of quality control and does not completely comply with construction, design and material specifications, a serious loss could occur.
Suction from an improperly installed swimming pool filter can eviscerate a child. Inadequate drain covers can entrap and drown swimmers. Any improperly installed diving board, ladder or in-pool lighting can lead to serious injuries and even death. Walking areas with improperly applied surfaces can lead to slip and fall injuries.
Contractual liability exposures are high for swimming pool contractors. While control of physical hazards is important, the language of the contracts between the client and the subcontractors is critically important. Financial losses and expensive litigation are virtually assured if the contractor fails to secure valid certificates of insurance with adequate limits from each of its subcontractors. In addition, it is essential that the swimming pool contractor and project owner be named and included as additional insureds on every subcontractor's policy to protect them from losses caused by subcontractor activities.
Environmental impairment exposures can be high due to the storage of pool chemicals that can leak and contaminate land or groundwater. Proper written procedures and documentation of the disposal process is important.
Workers compensation exposures depend on the actual work performed. If executive supervisors only visit the job site to provide supervision, the exposure is limited. If employees of the swimming pool contractor do part of the work, exposures can be severe. Back injuries, hernias, sprains and strains can be caused by lifting or moving pools. Work at heights, cuts, abrasions and eye injuries can occur.
Exposure to pool chemicals can result in burns, eye irritation, or inhalation damage to lungs. The swimming pool contractor is responsible for control of the job site and may be liable for injuries to any subcontractors.
Property exposures at the contractor's own location may be limited to those of an office and storage of materials, equipment, and vehicles. Some contractors have a small display area while others display above ground pools and a variety of pool related products available for retail purchase. Any flammable pool chemicals must be properly labeled, separated, and stored in approved containers, cabinets, and rooms as the introduction of even a small amount of water to certain dry chemicals can trigger an explosion. Property stored outside may be a target for vandalism.
Crime exposures are from employee dishonesty and money and securities. Background checks, including criminal history, should be obtained on each employee prior to hiring. Ordering, billing, and disbursement should be handled as separate duties with reconciliations occurring regularly. There should be appropriate procedures in place when employees accept payments off site. Audits, including inventory, should be conducted at least annually.
Inland marine exposures are from accounts receivable as the contractor typically offers installment payments to customers, goods in transit, installation floater, and valuable papers and records for customers' and suppliers' information and custom project plans. Copper tubing is a particularly attractive commodity to thieves. Copies of data should be kept at an offsite location for easier restoration.
Business Auto exposures may be limited to executive supervisor travel between installation sites or hired and nonowned for employees running errands. If the swimming pool contractor performs part of the installation, exposures are higher due to the transport of oversize pools and pool chemicals. Drivers must be experienced and aware of the cautions necessary in transporting these items to prevent overturn and damaging other vehicles.
All drivers must be well trained and have valid licenses for the type of vehicle being driven. MVRs must be run on a regular basis. Random drug and alcohol testing should be conducted. Vehicles must be well maintained with records kept in a central location.
Pool Contracting Insurance
Staying protected is important as a swimming pool contractor. The risks involved in this business makes having insurance policies in place to keep your business covered. A business that's profitable can lose everything if it doesn't have the necessary insurance portfolio to hand any lawsuits made against the company. The last thing you want happening is to be sued for something, and you don't have the right coverage in place to keep your business stable. Without the right plan, you can lose everything in your business. Taking the time to find the right plan is crucial for the protection of your business.
It's important for you to take the time to speak with an insurance professional to ensure that you understand the different policies and that you choose the one that will triumph over your comprehensive business protection.
Small Business Economic Data & Insurance Regulations
Perhaps you have the next great idea for a product or service that you know will appeal to your local area. Maybe you want to contribute to the economic growth of your community. Whatever the reason is, if you're thinking about starting a small business, it's important to understand pertinent information relating to small businesses in the United States; namely economic information and insurance regulations. After all, if you want your small business to succeed, you have to understand the economic trends organizations of a similar size in your area.
Likewise, you want to ensure that your small business is well protected with the right business insurance and that you are in compliance with the rules and regulations that pertain to commercial insurance in your region.
Read up on economic statistics and insurance information that relates to small business owners in the United States.
Small Business Economic Data In The United States
Here's a look at some information that was compiled by the Small Business Association (SBA) regarding the economic data that pertains to small businesses in the United States:
- In 2015, small businesses in the United States employed an estimated 58.9 million American workers, or 47.5 percent of the nation's private workforce.
- Largest shares = fewer than 100 employees. The small businesses that employed 100 people or less had the largest share of employment amount small businesses.
- Employment increased by nearly 2 percent. In 2018, employment amongst small businesses increased by 1.8 percent, which is an increase of 1 percent from the prior year.
- Increase in proprietors. In 2016, the number of small business proprietors increased by 2.3 percent.
- In 2015, small businesses were responsible for creating 1.9 million net jobs. Organizations that employed 20 people or less had the largest gains, as they added an estimated 1.1 million net jobs.
- There were 5.7 million loans that were value less than $100,000 issued by lenders in the United States in 2016. These loans were issued under the Community Reinvestment Act.
- Small business owners that were self-employed at the incorporated businesses that they owned reported a median income of $50,347 in 2016.
- Small business owners that were self-employed at the unincorporated businesses that they owned reported a median income of $23,060 in 2016.
Small Business Insurance Information
In the business world, there are many risks faced by company's every day. The best way that business owners can protect themselves from these perils is by carrying the right insurance coverage.
The The National Association of Insurance Commissioners (NAIC) is the U.S. standard-setting and regulatory support organization. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer review, and coordinate their regulatory oversight.
Commercial insurance is particularly important for small business owners, as they stand to lose a lot more. Should a situation arise - a lawsuit, property damage, theft, etc. - small business owners could end up facing serious financial turmoil.
According to the SBA, having the right insurance plan in place can help you avoid major pitfalls. Your business insurance should offer coverage for all of your assets. It should also include liability and casual coverage. The SBA recommends the following insurance plans for small business owners:
- Commercial Property Insurance: In the case of an unplanned disaster - fire, flood, vandalism, theft, etc. - this type of coverage will help you avoid paying for the damage out of your own pocket. Even if you rent the property, you should still carry commercial property insurance.
- Commercial Liability Insurance: In the event that a legal situation arises - a negligence lawsuit, for example - commercial liability coverage will provide financial protection. It will cover the cost of legal defense fees, court fees, and even moneys that may be awarded.
- Commercial Auto Insurance: If you operate a vehicle for any activities that are related to your business - transporting and/or delivering goods, or meeting with clients - commercial auto insurance is legally required for businesses of all sizes, including small businesses.
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.
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If a contractor wants to begin or stay in business, liability coverage must be obtained for the premises or operations, off-site locations and products/completed operations exposures. These coverages may be included as a part of a businessowners policy (BOP) or purchased in a commercial general liability (CGL) policy. Owners and contractors protective liability and railroad protective liability coverages may also be required in certain cases in order for a contractor to obtain a particular job.
Many contractors do not have the usual location-specific buildings and business personal property exposures. Their business property is more mobile and, therefore, better covered with inland marine coverage forms. However, for those larger contractors that own buildings and/or maintain business inventory there are many coverage forms and choices available to them.
Contractors use their vehicles to get to and from their workplaces and jobsites. They also use vehicles to transport equipment and inventory to those locations. It is important to cover the liability of these vehicles for injury or damage they may cause, as well as to provide coverage for damage to the vehicles themselves.
Employers are required to provide coverage for injuries sustained by their employees while on the job. Contractors must comply with these requirements but some try to avoid them by hiring subcontractors. These subcontractors may actually operate and qualify as employees. The relationship between a contractor and its subcontractors must be carefully evaluated in order to determine if workers compensation coverage is still needed.
Quotes from leading small business insurance carriers including: ACE, AmTrust, Chubb, Cincinnati, CNA, Colony, Employers, Evanston, Fireman's, Foremost, Guard, Hanover, Hiscox, Liberty Mutual, LLoyd's of London, Markel, MSA, Nationwide, Penn America, Philadelphia, Prime, Progressive, Scottsdale, The Hartford, Travelers, USLI, Utica First, Western World, Zurich & others.