Surround sound installers are part of the electrical wiring and equipment industry. They install new surround sound systems, home theater systems, and other audio systems at homes and businesses. They may also alter existing systems, as well as perform maintenance and repair work.
Surround sound installers often act as contractors who install systems purchased elsewhere. These companies face a wide range of risks that can be financially devastating. Worker injuries, property damage, and lawsuits can threaten your assets and the long-term financial strength of your business.
Business insurance tailored for businesses like yours can help you mitigate your risks and protect your business. You need an experienced independent insurance agent to help you assess your risks and find the right business insurance policies from highly rated insurers.
Why Do You Need Surround Sound Installer Insurance?
Surround sound installers can face serious costs if they damage a customer’s property while installing a system at a home or a business. What’s more, your own business property can be damaged, stolen, or destroyed. And the potential for being sued is a threat that every business should take seriously.
You need surround sound installer insurance to protect you from costs related to:
- Bodily injury or property damage that you cause during installation jobs
- Employee theft or crime
- Data breach or other cyber incidents
- Employee illness or injury
- Fire, storm, burglary, or vandalism
When you work with an experienced independent insurance agent, he or she can find insurance companies who specialize in surround sound installer insurance. You likely need a variety of property and liability insurance policies in order to be sure that you are protected.
What Does Liability Insurance Cover?
You likely spend a significant amount of time working on customers’ properties while installing custom surround sound systems.
If one of your installers injures a customer or a member of the general public, or if you cause damage to a home or a business, you’ll be responsible for paying for medical bills or property repairs. What’s more, you could be sued by a customer, a partner, or a former employee or for a variety of other reasons.
Liability insurance helps you pay for situations in which you’re accused of some kind of negligence. There are several types of liability policies that cover certain areas of your business or specific types of lawsuits. Your business insurance package may contain the following types of liability coverage:
- Commercial general liability (CGL) insurance: This provides coverage for costly claims and lawsuits. If your business is accused of causing third-party bodily injury or property damage (e.g., an installer damages a floor or a wall while installing a home theater system), the CGL policy will pay for attorney fees, court costs, and any settlements or judgments that you must pay. General liability insurance also provides coverage for claims of slander, libel, and advertising injury.
- Cyber liability insurance: This 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: This is also known as excess liability coverage, and 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: This covers you if an employee sues you for discriminatory employment practices.
Commercial Auto Insurance for Surround Sound Installers
You probably provide trucks, vans, or other vehicles for your employees to drive. If you own one truck or a fleet of vehicles, you need commercial auto insurance. Commercial vehicle insurance covers your cars, trucks, and any other vehicles you use for business. It provides bodily injury and property damage liability coverage, as well as 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. Each vehicle owned by your business or used for business purposes can be listed separately on your business auto policy, with corresponding coverage for each vehicle that can differ depending on the vehicle’s characteristics and the coverage it requires.
If you have sales people, estimators, or other employees who drive personal vehicles for business purposes, talk to your insurance agent about your need for non-owned auto liability insurance.
Why Do You Need Workers’ Compensation Insurance?
You need workers’ compensation insurance to help installers, electricians, or other employees who are injured on the job. Installing surround sound systems at businesses and homes can be dangerous for employees. They may be required to climb on ladders, work on roofs or in other dangerous places, and use dangerous tools and equipment. Surround sound system installers may be exposed to falls, electrical currents, cuts, abrasions, eye injuries, and other unsafe or unsanitary conditions.
Workers’ compensation insurance provides coverage for medical expenses and lost wages for injured workers. Business owners are required to carry workers’ compensation insurance to protect their employees. Specific coverage requirements vary by state.
Property Insurance for Surround Sound Installers
You likely have owned or leased office space or warehouse space. Your building or leased space is filled with valuable furniture, equipment, and other business personal property that is susceptible to theft, vandalism, fires, storms, and certain other causes of loss.
Business property insurance: This protects buildings and their contents, including computers, office equipment, furniture, inventory, and all of your business property — whether it is owned or leased — if it is damaged by fire, smoke, theft, vandalism, or some other covered peril. You need this coverage to protect your expensive phone and communications equipment, as well as all the other contents of your office space and warehouse space.
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 may also need additional property coverage. Talk to independent insurance agent about your need for the following.
- Flood or hurricane insurance: Your basic commercial property policy does not cover flood or hurricane damage. Talk to your agent about flood and hurricane insurance if you live in an area that is prone to these events.
- Employee crime and dishonesty coverage: This protects your business from the costs of theft, dishonesty, and fraudulent acts committed by an individual employee or a group of employees. It provides coverage for forgery, alteration, theft, unauthorized electronic funds transfers, credit card fraud, computer fraud, money order fraud, and counterfeit fraud.
- Utility interruption coverage: This provides income protection if you are unable to operate due to a covered utility (water, electrical) interruption.
- Inland marine insurance: This covers tools, equipment, and supplies while they are in transit. For your surround sound installation company, this may mean the components of audio or home theater systems, tools, portable computer equipment, and other equipment or supplies that are carried to job sites in order to perform installations or repairs. While these items are in transit, they can be covered under an inland marine insurance policy.
How Much Does Surround Sound Installer Insurance Cost?
Several factors will determine the cost of your surround sound installer business insurance policies. These include:
- Your business location
- The coverage and deductibles you choose
- Number of employees
- Value of your commercial property, including buildings, furniture, equipment, inventory, etc.
An independent insurance agent can guide you though your options so you get coverage that meets your needs and budget.
Benefits of an Independent Agent
Our agents simplify the search process for finding the right surround sound 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 a TrustedChoice.com independent insurance agent now, and get 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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