SunGate Insurance Agency Blog
Business Liability Insurance for Flooring Specialists
Repairing, maintaining, and installing flooring in residences and commercial buildings is a critical part of a construction industry that is currently booming!
After all, let’s face it: every building needs a high-quality, durable, beautiful floor! As a flooring contractor, it is your responsibility to safely and expertly install exactly the right floor for each and every job, whether it is carpet, tile, stone, hardwood, laminate, linoleum, or other something else altogether. Yet even for the most expert flooring specialist, it is a job that comes with a certain amount of risk: bodily injury to a client or an employee, for instance, or potential damage to the customer’s home or place of business. The right business liability insurance—designed specifically to cover the risks associated with flooring contractors—can provide financial protection so a simple accident won’t cause financial devastation to yourself and your business.
The Business Owners Policy (BOP): General + Property Liability
The two main types of insurance coverages most flooring contractors require is general liability insurance and property liability insurance. Together, these two coverages will offer most--but not all—of the protection your business needs for comprehensive insurance against the most common risks you face in your industry. In most cases, the best way to purchase general liability and property liability insurance is with a Business Owner’s Policy, or BOP for short. A BOP generally packages these two policies into one, often at a reduced rate.
Typically, general liability insurance covers:
Commercial property liability generally protects you against damages to your flooring contractor’s office and/or property. For instance, it will cover the loss of your flooring supplies, tools, and materials should your warehouse or other property be damaged due to fire, natural disaster (excluding flooding), extreme weather, theft, and/or vandalism. It can also include damages stemming from loss of electronic records (such as client billing) and may include coverage for the cost of repairs should your equipment and tools break down.
What the BOP Does NOT Cover
While a BOP does provide financial protection for many of the risks facing flooring installers, it is not a complete and comprehensive insurance policy without some critical add-ons. Most importantly, flooring contractors in Florida are required by law to carry Worker’s Compensation Insurance and Commercial Vehicle Insurance in most circumstances
Thus, most flooring contractors will require the following additional insurance coverages to ensure complete protection and compliance with Florida law:
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