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Whether you or a representative of your company does something wrong or not, it's likely to be legal claims made against you. A person might slip in the parking lot outside your office and sue you as a way to pay for his doctor’s care costs. A customer may experience leaking in the roof due to mistakes made when your employee installed her fire sprinkler system. Regardless of what the claim is, or whether you are actually responsible for paying for it, fire sprinkler liability insurance is very risky to go without. At a minimum you should consider it to be the foundation of any good business design.
General liability insurance for fire sprinkler contractors is the base level of business insurance your company needs. Designed to protect you from things you might not think of before hand, this coverage is very useful for both legal and financial reasons. When you are sued for injuries or damages covered in this policy, it will pay for many different costs. It pays for your attorney fees for example, so that you’ll have professional defense in the court room. If you lose the case, this policy will pay out the awarded amounts for you. It helps in several of the circumstances noted below:
A fact of doing business is that people get hurt. Many people assume that the business is financially stable; therefore, they file a lawsuit in the hopes of winning large lawsuits. Often times the lawsuit is justified. If the person suing was injured on your business property or because of something an employee of your company did, regardless of the company’s fault, they feel that they should not have to pay for the hospital or doctor’s care themselves. Whether your company is responsible or not, fire sprinkler liability insurance pays many of the associated expenses that come up when bodily injury claims are made.
If property is harmed instead of people, it is referred to as property damages. Property usually includes inanimate things such as a wall, door or the ceiling you may be installing the sprinkler system into. Property damages can apply to other items of value too. Examples include the customer’s prized poodle, or registered racehorses that live in the stables you’re putting the sprinkler system into.
Minor physical injuries that do not require expensive or ongoing care can be paid for directly by general liability insurance for fire sprinkler contractors. When the settlement payment is within the confines of your insurance policy, paying it directly often avoids more expensive legal procedures and judgment awards.
It’s not always easy to say something publically without someone else taking offense. If the offense is believed to be a personal attack of some kind, the offended person may sue your company for personal injuries. This is most common when another party feels you have slandered their personal or business name, but it can also arise due to intellectual property disputes. Fire sprinkler liability insurance helps you through these legal and financial challenges when they arise.
In an ideal world, once you have finished providing services and products to your customers and they have signed off on the final work you wouldn’t have anything else to worry about. In reality however, problems can arise after the fact. A product’s manufacturing materials may prove to be hazardous for example, or something happens that the customer feels was caused due to work you did. These issues are covered under the products and completed operations section of general liability insurance for fire sprinkler contractors.
Space that you rent or lease for your business can spur legal actions and consequences too. If the property owner feels you’re at fault for damages, they may sue you for the costs.