Playground equipment installers are specialized contractors who install playground equipment to manufacturer specifications at schools, parks, private yards, and other locations. They may also perform additions, alterations, maintenance, and repairs to existing playground equipment.
The risks that individual playground equipment installers have are unique. You might work on small residential projects or large municipal projects, and everything in between. Regardless of the size or difficulty of a project, accidents and property damage can happen at any time. How will you protect your business when something goes wrong?
Business insurance tailored for playground equipment installers is one way to protect your business from the devastating costs and disruption these incidents can cause. An independent insurance agent can help you get the coverage you need.
Why Do I Need Playground Equipment Installer Insurance?
Professional playground installation takes certain experience and skills to ensure the equipment is set up and installed properly and safely. Playground equipment can take several days to install, and requires a team of capable professionals to ensure the equipment is installed according to manufacturer specifications.
In the course of installing a playground, you are exposed to a variety of risks that can cost you a tremendous amount of money. You need playground equipment installer insurance to protect your livelihood from things like:
- Property damage, theft, or vandalism to your tools, vehicles, and equipment
- Worker injuries
- Lost income due to property damage or some other type of work stoppage
- Lawsuits for causing damage to someone’s property or causing injuries to a third party
- Lawsuits stemming from faulty products
- Car accidents involving your business-owned vehicles
What Does Playground Equipment Installer Insurance cover?
Playground equipment installer insurance is not a single insurance policy. It is a wide range of insurance products designed for general contractors, homebuilders, remodelers, carpenters and many other types of contractors.
Playground equipment installer insurance helps you minimize the costs related to employee injuries, equipment and materials damage, motor vehicle accidents, lawsuits, and more.
Not every playground equipment installer has the same insurance needs. Your comprehensive business insurance program should be based on the size of your business, the number of people you employ, and the type of work you perform.
Liability Insurance for Playground Equipment Installers
One of the biggest risks you face as a playground equipment installer is the damage that you can do to a home or a commercial property while you’re working. What’s more, your presence at a jobsite can lead to an injury for a customer, business owner, or bystander.
You are financially responsible if you damage someone’s property. And if someone at the jobsite is injured because of careless work or behavior by an employee, or simply because your presence is unsafe or an attractive nuisance for bystanders, you will take the blame.
- What if a homeowner tripped over a tool or materials left in an unsafe spot and broke her ankle? You’d need insurance to pay for her medical bills and any other related expenses.
- What if one of your workers caused a car accident while driving one of your trucks on the way to a job site, damaging another car and injuring the driver? You’d need insurance to insurance to pay to repair the damaged car, your own truck, and for the injured person’s medical bills.
Several different types of business insurance policies can help:
Commercial General Liability (CGL) Insurance
CGL insurance protects you from the costs of liability claims and lawsuits. It can help you pay for property damage, medical bills, attorney fees, court costs, settlements, and judgments.
Whether a person is physically injured by slipping on a wet floor at your workshop, or someone is hurt because they trip on materials you’ve left outside at a worksite, your general liability insurance covers the fallout, including the costs of medical treatment and care, and even your legal defense if you are sued.
General liability insurance also covers damage you do to someone else’s property, whether it happens at a jobsite or at your primary business location. It pays for repairing or replacing damaged property of others.
CGL insurance may even pay for problems that occur after you’ve completed a project. If your company is the cause of property damage and financial losses for a customer, you’ll likely be sued. CGL can help you pay for your legal defense and any settlements or judgments that you have to pay to the claimant.
You may also have product liability exposures. Claims for product-related damage are usually related to manufacturing or production flaws, design defects, or defective warnings or instructions. If you are sued for some type of product negligence, you may be required to pay for medical costs, compensatory damages, economic damages, attorney fees, court costs, and more.
While you may not manufacture the playground equipment that you install, you can still be named in a product liability lawsuit. Any company that participates in bringing a faulty product to market can be included in a lawsuit and held liable for damages to the user. The resulting payouts for medical costs, compensatory damages, economic damage, attorney fees, court costs, and even punitive damages can be insurmountable for a small business.
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. Some product liability coverage is usually included in standard commercial general liability (CGL) policies, but this coverage may not be sufficient for your needs. You need an experienced agent to help you determine how much product liability exposure you have, and how much and what type of coverage you need.
You might also need some other types of liability insurance to protect your playground equipment installation business:
- Commercial auto insurance: This covers your vehicles and drivers in the event of an accident or other types of vehicle damage.
- Commercial umbrella insurance: This can cover you for claims that exceed the limits of your other liability policies.
Property Insurance for Playground Equipment Installers
Your tools and equipment are your most valuable asset. Without them, you could not perform the work you have promised.
You need to protect your valuable tools and equipment whether they are at your shop, on the way to a job site, or on a trailer at the site until the project is completed.
- Commercial property insurance: This covers your office space, shop, warehouse, or other buildings and their contents from losses due to fire, theft, vandalism, wind, hail, and other losses that can occur.
- Business interruption insurance: This reimburses you for lost income and helps pay for certain ongoing expenses if you are temporarily unable to operate due to a covered loss (fire, weather, vandalism, etc.).
- Inland marine insurance: This protects your equipment, tools, portable computer equipment, and other supplies from theft, loss, or damage while they are in transit to and from worksites.
What Are Contractors Bonds and Do You Need them?
You might need a variety of contractors bonds, or surety bonds, depending on the size and scope of the projects that you work on. Bonds are very important for contractors who work on commercial building sites, but you may still need certain types of bonds even for residential work. And you may be required to have certain kinds of bonds in order to secure the required licensing for playground equipment installers.
Contractors bonds can be essential for finding, securing, and performing work. They are typically used to guarantee some aspect of the bidding process or building project and ensure the project owner that you are fully licensed, insured, and prepared to complete the project as promised.
Every type of bond is unique and tailored to a specific project. While you may not need them for every residential job, you should know what they are and be prepared to obtain them if required.
How Much Does Playground Equipment Installer Insurance Cost?
Playground equipment installer insurance costs will vary depending on the size of your business, the number of employees you have, and how much business property (buildings, tools, and equipment) you have.
If you own a shop or warehouse building and several trucks, you’ll pay more than a business owner who has only a small office space and a single work vehicle. If you do all of the work yourself, you’ll certainly pay less than a remodeler with several employees and sub-contractors on the payroll.
An independent agent who has experience working with different types of contractors can help you decide the types and amounts of coverage you need for your business. The choices you make will determine your cost of coverage.
Find and Compare Quotes
An independent agent can work with you one-on-one to determine the types and amounts of coverage you need. Your agent can get quotes from multiple insurance companies so you can evaluate the cost and coverage options and make the best choice.
Benefits of an Independent Agent
Our agents simplify the search process for finding the right playground equipment installer insurance. They’ll walk you through the handpicked policy options and explain the details.
Most importantly, they’ll 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.
The Lowdown on Online Quotes
Online quotes can be tempting. They are fast and easy to get — but are they accurate? And are you getting quotes for the right coverage? For business owners, choosing speed over accuracy can cost you.
Online quotes can’t and don’t see the whole picture. They can omit important coverage that will leave you devastated if something unexpected happens. And they can leave out cost-saving opportunities that an agent can help you take advantage of.
Instead of getting an online quote, find an independent agent now, and get a one-on-one consultation and affordable options for the best coverage for your unique needs.
TrustedChoice.com Article | Reviewed by Paul Martin
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