What is Swimming Pool Contractors Insurance?
Installing and maintaining swimming pools can be financially profitable work, but it comes with certain risks. In addition to common perils that many businesses face, contractors in this industry must also consider what would happen if they were responsible for a pool tragedy. Swimming pool contractors insurance policies help protect pool contractors in Massachusetts from a range of both common and more industry-specific risks.
Swimming pool contractors insurance is a special kind of commercial insurance that’s suited to the particular needs of businesses that install and sell pools. In most cases, these policies are package policies and have multiple protections, which allows them to protect contractors from a variety of covered risks.
What Businesses in Massachusetts Need Swimming Pool Contractors Coverage?Most businesses in Massachusetts that sell, install, service or repair pools should consider getting a pool contractors policy. This includes both businesses that specialized in residential pools and those that service commercial pools. Not having coverage often leaves a business exposed to substantial risk, and this is usually the most appropriate type of commercial policy for these businesses.
What Protections Does Swimming Pool Contractors Coverage Make Available?
There are many coverages that these policies might offer, depending on their terms. Some of the more widely available protections are:
- General Liability Coverage, which often protects against slip-and-fall accidents, defamation lawsuits, and false advertising suits
- Pollution Coverage, which often protects against harm or damage caused by chlorine, muriatic acid, hypochlorite or other chemicals
- Umbrella Liability Coverage, which often protects against especially expensive lawsuits by offering supplemental coverage
- Commercial Property Coverage, which often protects a contractor’s facilities, equipment, inventory and supplies
- Commercial Auto Coverage, which often protects a contractor’s cars, vans and trucks
- Inland Marine Coverage, which often protects equipment, inventory and supplies when they’re driven to or from customers’ locations
- Equipment Breakdown Coverage, which often protects essential equipment if it breaks down suddenly
- Extra Expenses Coverage, which often provides funds to rend a space should a primary facility become unusable
An insurance agent who specializes in this type of commercial insurance can go over these and other coverage options in more detail.
Do Swimming Pool Contractors Need Workers Compensation?
Pool contractors who have employees usually are required by Massachusetts state law to carry workers compensation, which normally protects against job-related injuries and illnesses. Additionally, self-employed contractors sometimes want to get workers compensation even if they aren’t legally obligated to, as it might cover job-related injuries when standard health insurance doesn’t.
Not all policies make workers compensation coverage available, though. Instead, many contractors purchase this coverage on its own rather than through a package policy. An agent who’s familiar with swimming pool contractors coverage can likely also help with stand-alone workers compensation policies.
Is Swimming Pool Contractors Coverage Expensive?
While premiums for pool contractors coverage vary, these policies tend to be affordable. Their premiums are almost certainly lower than what recovering from a major disaster or lawsuit without any coverage in place could cost.
A few of the specific details that can influence how much contractors pay for a policy include:
- What types of pool work a contractor does
- What equipment a contractor uses
- What area a contractor services
- Where a contractor is located
- How many workers a contractor employs
- What coverages, deductibles and limits are chosen
An independent insurance agent can help contractors find out exactly how much they’ll have to pay for coverage. Unlike captive agents who usually have a special relationship with a single insurer, independent agents can show contractors policies from many insurance companies in the state. Seeing different companies’ rates makes it easy to determine how much a policy will cost given a business’ specific circumstances.