Fireproofing Contractor Insurance

Your Guide to Fireproofing Contractor Insurance

Take these steps to protect your business.

Fireproofing Contractor Insurance

Fireproofing contractors install fireproofing materials (typically spray-on substances) at residential and commercial locations.

If something goes wrong on a job, the consequences can be devastating for you and for your customers. That’s why you need fireproofing contractors insurance to help you mitigate your risks and protect your business.

A local independent insurance agent can help you assess your risks and find the right business insurance policies that are tailored to your industry.

Why Do You Need Fireproofing Contractor Insurance?

Fireproofing materials are typically blown or sprayed into buildings during the insulation process. Unfortunately, at any time mistakes can be made and other problems can occur on the job site or even at your place of business.

As a fireproofing contractor, you need insurance to cover your financial losses when these incidents occur.

  • An employee damages a client's property during the fireproofing process
  • A vendor or customer trips, falls, or is otherwise injured on your premises
  • An employee is at fault for an accident while driving one of your company vehicles
  • Your tools, equipment, and other valuable property are damaged, lost, or stolen
  • An employee is injured on the job
  • You cause environmental damage in the course of installing, removing, or disposing of fireproofing materials

Fireproofing contractor insurance protects your business from these and other risks that you might face.

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General Liability Insurance for Fireproofing Contractors

Fireproofing contractors must carry commercial general liability (CGL) insurance. CGL insurance protects you from having to pay out of pocket for damage or legal fees if your services happen to cause damage to any of the homes or businesses you work on. It offers broad protection for a wide variety of negligence claims and lawsuits.

If, for example, a vendor slips and falls while delivering supplies to your business, your insurance will cover the cost of any related medical care, as well as any legal costs that may arise if the person sues you.

You face a variety of other liability risks, as well. The equipment you use and the work that you do can be dangerous, and the process of installing or blowing insulation can result in damage to the building or even illnesses for residents or others on the premises. The customers, employees, or members of a customer's household can be injured by tripping or falling over tools, power cords, building materials, and scrap.

Your general liability insurance covers medical costs for the injured parties as well as legal fees, financial settlements, and court-ordered judgments if you are sued.

Why Is Product Liability Insurance Important?

General liability policies also include product liability insurance. This covers you if one of the products you install is harmful to a customer or anyone else who comes into contact with it. Product liability insurance covers your financial responsibility for losses or injuries to a user, buyer, or bystander caused by a defect or malfunction of your product.

You also have “completed operations” exposures that are covered by your CGL policy. For example, improper installation of fireproofing materials around building mechanicals (electrical wiring, heating ducts and piping, and plumbing) can cause or aggravate a number of conditions that could ultimately damage the building. If your work leads to a problem like this, you could be sued and your CGL policy would respond.

What Other Types of Liability Coverage Do Fireproofing Contractors Need?

Your fireproofing contractor insurance package may contain the following additional types of liability coverage, as well.

  • Cyber liability insurance: Provides coverage in the event of a data breach involving your business. It helps pay for the costs of notifying affected clients, as well as public relations and investigation costs, and more.
  • Commercial umbrella insurance: Provides supplemental liability protection beyond the limits of certain other liability policies. This policy can be invaluable for that once-in-a-lifetime judgment rendered against you.
  • Employment practices liability insurance: Covers you if an employee sues you for discriminatory employment practices.

Your independent insurance agent can help you determine if you need these valuable coverage types.

Do Fireproofing Contractors Need Environmental Coverage?

There are numerous ways that your business can cause an environmental hazard at a worksite, at a disposal site, in water runoff, during transport, on your own premises, and even at a waste disposal site if certain procedures and rules aren’t followed.

Your independent insurance agent can help you find policies to help you mitigate your environmental exposures. You may need a single policy or a combination of policies to cover all of the ways in which you handle chemicals and waste.

  • Contractors pollution liability coverage: This protects you from third party claims for damage caused by pollution that arises from your operations.
  • Premises pollution liability coverage: Covers claims arising from pollution released at, on, or emanating from a specific schedule location, such as your business premises or at a specific job site.

You can also discuss your need for transportation pollution liability coverage, depending on what, how, and where you transport potential pollutants. This is over-the-road pollution insurance, which means that it covers pollution conditions caused during transportation, loading, and unloading of potential contaminants.

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Property Insurance for Fireproofing Contractors

You likely have owned or leased office space or warehouse space where you perform administrative tasks and store all of your equipment, supplies, materials, vehicles, and more. Your physical space likely serves as a home base for your employees, and may be filled with valuable furniture, computer equipment, and other commercial property that is susceptible to theft, vandalism, fires, storms, and certain other causes of loss.

Your commercial property insurance protects you when these items are somehow lost, damaged, or destroyed.

If you sustain damage that forces you to temporarily close or relocate, business interruption coverage will reimburse you for ongoing expenses (rent, salaries, etc.) and lost income during the closure or relocation period.

You also need coverage for your contractors equipment, tools, insulation, and supplies that are in transit from job to job and that are in use or stored at a job site.

  • Inland marine insurance: Protects your equipment, tools, portable computer equipment, and other supplies from theft, loss, or damage while they are in transit to and from worksites.
  • Installation floater: Protects materials left at a job site to be installed but are damaged before you can do it. If, for example, you drop off materials at a job site but find them vandalized and broken the next morning, an installation floater will likely cover your losses.
  • Tools and equipment floater: Can normally be added to your property damage coverage. It covers any leased or owned specialized tools and equipment while they’re stored on a job site.

Your independent insurance agent can help you assess your need for these types of coverage.

Commercial Auto Insurance for Fireproofing Contractors

Your commercial vehicles must be covered with commercial auto insurance. If one of your drivers causes an accident, it covers bodily injury and property damage that the driver is at fault for.

Commercial vehicle insurance covers your cars, trucks, and any other vehicles you use for business. In addition to liability coverage, it provides collision, comprehensive, and uninsured motorist coverage.

Your commercial auto insurance can be tailored to your needs, and your coverage and premiums will be based on how your vehicles are used and who drives them.

Workers’ Compensation Insurance for Fireproofing Contractors

Fireproofing can be dangerous for your employees. If one of your workers gets injured while on the job, you’re responsible for paying for his or her medical expenses. What’s more, he or she may not be able to work until fully recovered, leaving the employee without his or her income.

Workers’ compensation insurance: Protects your employees and your business from the costs associated with work-related injuries and illnesses. It provides coverage for medical care and income protection for an injured worker while he or she is unable to work. Workers’ compensation insurance also helps protect employers from lawsuits by injured employees.

How Much Does Fireproofing Contractor Insurance Cost?

Your costs for fireproofing contractor insurance will vary depending on the unique characteristics of your business, such as the location, the number of employees, the value of your commercial property (building plus contents), whether or not you own your building, and how many vans or commercial vehicles you own and operate.

The amount of coverage you need and the deductibles you choose also impact your insurance costs.

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Benefits of an Independent Agent

An independent insurance agent who has experience working with fireproofing contractors and other similar businesses can help you decide the types and amounts of coverage that you need for your business. The choices you make will determine your cost of coverage.

Independent agents can work with numerous, reputable insurance companies who specialize in your type of business. Together you can review a variety of proposals and choose the best mix of coverage that meets your needs and budget.

What’s more, your agent will be there for you when claim time comes. They know the ins and outs of the process and will make sure your claim is handled appropriately.

Find and Compare Quotes for Fireproofing Contractors Insurance

Instead of getting an online quote, find an independent insurance agent now, and get one-on-one consultation and affordable options for the best coverage for your unique needs.

Your agent will work with you free of charge to get quotes from multiple insurance companies so you can make the best choice.

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TrustedChoice.com Article | Reviewed by Paul Martin

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