As a company or engineer who has worked hard to get the right certifications and skills to do your work, you need to make sure that you have the best protection to safeguard you, your business, and your customers against any undue financial stress. Here, we outline the different types of insurance you need to buy for your work as a boiler installation engineer.
Boiler Installation and Repair General Liability Insurance
When you carry out reparative or maintenance works in any residential or commercial premises, liability coverage is perhaps one of the most important types of insurance you need to buy. General liability coverage can give you financial protection in case there is any injury to a person or damage to a third-parties property while you are on the job.
#1 Professional Liability Coverage for Boiler Installers
If you install, repair, or maintain boilers, then a professional indemnity policy is another type of insurance you need to buy. If you make an error in your work, and this causes a financial loss or injury to a person once it has been installed, this type of insurance will give you financial security to cover any arising claims and associated expenses. It also covers misadvice that leads to the same type of loss.
#2 Commercial Property Coverage for Boiler Installers
If your company operates out of an owned or leased building, then you should also consider getting business property coverage as well. Although you will usually order your parts and equipment on-demand, you might have inventory, equipment, or even furnishing at your company address. Business property insurance will cover your physical premises against a range of perils, and it will give you coverage for equipment, inventory, and furniture.
#3 Business Interruption Insurance
If your core business premises become unusable due to a named peril, and you are no longer able to operate, then business interruption insurance can help you financially should you be unable to attend your boiler installations as usual.
#4 Commercial Auto Insurance for Boiler Installers
As you will use your vehicle/s on a daily basis for traveling to clients at different locations, you will need to buy commercial auto insurance for contractors. Whether you work alone or you have a fleet of vehicles to insure, there is a need to insure your equipment, inventory, and yourself against any accidents or losses.
Save Money Buying Commercial Insurance for your Boiler Installations Business
If you are looking for ways to save money on your commercial insurance, combining some of the policies named above into a single Boiler Installation and Repair Business Owner Policy is a great way to do this. Although some BOPs will only offer general liability and commercial property coverage, there are still many that will add business interruption insurance to their BOP offering.
Get an insurance quote for your Boiler Installation and Repair company from an expert commercial insurance agent today and see how much money it costs to insure your business.