Types of installer insurance policies
When running a floor installation, sanding and polishing business, the following insurance policies are highly recommended:
Professional indemnity policy
As a flooring expert, real estate developers, home owners and commercial building owners will always come to you for advice. Flooring materials are sensitive to climatic changes, moisture, cleaning procedures and pressure exerted on them by high foot traffic. Considering that most clients will come to you for advice on the best flooring materials for their specific buildings, this poses a great professional risk. This policy covers legal fees and compensation as stated by the ruling of the court for perceived professional negligence or flawed advice to clients.
Public liability policy
Public liability policy comes in handy if you are found liable for injuries incurred by another person or destruction of property. This is a common risk during floor installation, sanding, replacement or polishing. For example, if you damage the subfloor while installing the desired flooring material may result in compensation claims. An individual sliding and falling on a freshly installed or polished floor could result in claims. This policy pays for the legal fee, medical bills for injured individuals, income lost when they are recovering and compensation for injuries or destroyed properties.
General tools policy
In order to provide a smooth and elegant finish on the floor you are working on, you need to use specific tools. Some of the required tools are expensive hence costing a fortune to replace them once they are lost or damaged. This policy replaces your lost or damaged tools allowing you to continue working without digging deep into your business savings for tool buying cash.
Flooring jobs are extensive in nature hence need for a relatively huge taskforce. Your employees are exposed to varying risks such as falls on slippery floors, accidental cuts from sharp machines and allergy from some type of flooring materials and polish. This policy covers medical bills and other compensation fees for bodily harm incurred by the employee while on duty.
Business interruption policy
Business interruption protects your income when you cannot work because of the reasons stipulated in the insurance policy. If you are running a large flooring firm it is advisable to go for a business insurance package that adequately covers your business. Consult a flooring installer insurance provider for informed decision making.