We might live in one of the world’s colder countries, but that does not stop Canadians from making the most of the summer months we do get. The installation of swimming pools has been on the rise for over a decade, and this trend shows no sign of slowing down. In fact, many pool companies have long waitlists for installations. This is great news for you as a Pool Company owner, but are you covered if something goes wrong?
What Sort of Insurance Coverage Does a Pool Company Need?
As you work hard to build and install – and maybe even repair – swimming pools for your clients, often the last thing on your mind is the potential for issues. But there are some real threats to your business if you do not have the right insurance coverage. If you are sued, would your business be able to continue? In order to shield your business from claims that could lead to bankruptcy, you need to ensure your company has the proper insurance coverage.
Coverage Designed for Pool Contractor Companies
As a pool company owner, there are several types of insurance coverage to seriously consider:
- Your pool company, like other small businesses, needs Commercial General Liability (CGL) Insurance. This coverage protects you if injury or property damage takes place during the regular course of business, and can relate to your location, products, advertising, completed operations. Discuss the most suitable CGL coverage for your business with your ALIGNED Insurance Advocate.
- Commercial Property Insurance ensures you are covered in the event of losses due to extreme weather events like lightning or flood, as well as unexpected occurrences like vandalism, mischief, explosion or even a car crashing into your business site.
- If you and your team use company vehicles as part of your pool company business then Small Business Auto Insurance is for you. This coverage helps make sure you are covered for third party liability, physical damage and other benefits from incidents/accidents that could occur when staff is driving your vehicles.
- As a pool company operator, you know that installations can take several weeks and involve a fair amount of construction at the customer’s property. The same is true is you are completing a large repair or build to a pool and structures. Course of Construction Insurance can protect your property for the duration of a build, in case it goes too long or over budget.
Who Needs Pool Company Insurance Coverage?
In what cases would your pool company need the insurance coverage mentioned above?
- Your employee is driving too fast in the company car to make an appointment with a customer, runs a stop sign by accident and crashes into another vehicle.
- You leave some construction equipment at a pool construction site overnight and your client’s child injures herself on it.
- While digging the foundation for a pool, your employee miscalculates and damages an neighbouring property.
Speak with an ALIGNED agent today to get the best possible coverage for your pool company business.
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