Professional Installation Insurance: The Financial Protection You Need

February 08, 2024 | Insurance 101

If you’ve been an installer for any length of time, you’ve probably heard stories or had experiences like this: The tool a flooring installer is using slips and punches a hole in a wall. Accidents happen. But now, the company has to pay for a drywall pro to come in and repair the damage. 

Or how about this one: A worker knocks a brand new, state-of-the art, flat-screen TV off its mount, and it crashes to the floor. The bills for replacing the TV and fixing any damage to the wall or mounting hardware can add up fast.

Fortunately, a general liability insurance policy can cover the costs in both of these examples. 

Of course, it isn’t just onsite accidents that can lead to huge expenses. Imagine you don’t have the best protection for your computers, and a hacker steals customer records containing credit card numbers. They use that info to commit fraud or are likely to. 

It’s expensive to notify people of the breach and do other “damage control.” Plus, if you don’t do things right, it can tarnish your reputation and cost your company future business opportunities. Good news: Cyber insurance can help here.

Then, there’s the risk of injuries. You know that professional installation is hard work, and it’s easy for an employee to get hurt. If you don’t have workers’ compensation insurance, their medical bills come out of your company’s pocket—not to mention any state fines or penalties you may be hit with for not having the required insurance. 

Others face injury risks, too. For example, let’s say a delivery driver dropping off materials at your shop slips on a wet floor, falls, and breaks their wrist. They sue the business for the cost of their medical bills and time off from work. 

An accident like that can happen at any time, and it can easily cost tens of thousands of dollars (or more). This is another case where a general liability policy—the bodily injury aspect specifically—can come to the rescue. If you don’t have insurance, your company is probably on the hook for that expense.

But don’t let worrying about those kinds of risks drag you down. We can help! It’s fast and easy to get affordable installation insurance. It can’t prevent accidents, of course, but with the right installation coverage insurance, you also get peace of mind from knowing that biBerk has your back. If you suffer a covered loss, our team guides and works with you to make sure the issue doesn’t hurt your business.

Worker installs wood flooring

Would My Business Benefit From Installer’s Insurance? 

You may wonder what the terms like “professional installation insurance” or “installer’s insurance” mean exactly. We use them as a kind of shorthand to cover many types of work. 

Do you do HVAC or appliance installation? Maybe you’re a carpet, tile, stone, or other flooring installer? Or perhaps you’re in a construction trade like drywalling, door and window installation, fence building, or landscape installation. All of these roles and others need professional installer’s insurance. 

Plumbers and electricians also do installation work. And, in today’s digital world, telecom cabling and technology installation companies are always in demand. 

So, if your company does installation, “rigging,” or similar work in home or business settings, you definitely should carry professional installation insurance.

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Professional Installation Insurance: Consider These 6 Crucial Policies

Now, maybe the most important question when you’re shopping for coverage: What policies do I need? Let’s consider that.

Carrying business insurance, like flooring installer insurance if that’s your industry, can protect your company from financial liability. biBerk offers insurance to address different risks. The advantage of this “a la carte” approach is that you can buy the coverage you need and not pay for anything extra. 

For instance, if your company owns or leases vehicles that workers use, you’ll need commercial auto insurance. But maybe your business doesn’t have vehicles. Employees just arrive at job sites in their own cars or trucks and get started. In that case, you don’t need to carry commercial auto insurance, and any money you save by avoiding coverage you don’t need means more cash in your pocket or reinvested in your business.  

What policies should a professional installation company have? That depends on things like the type of work you do, the kinds of risk you face, etc. But every small business can use at least some of these important policies:

  1. General Liability Insurance. This is a must-have policy for just about any company. It covers multiple risks, including injuries to customers and other people who don’t work for you and damage you or your employees cause to other people's property. It can also pay costs related to libel, slander, and copyright infringement (in your advertisements, for example). Plus, you can add what are called “endorsements” to enhance your coverage, including cyber, hired and non-owned auto liability, employment-related practices liability, and employee benefits liability. 
  2. Business Owners Policy. A business owners policy (BOP) is an efficient and cost-effective way to shield your company from multiple risks. It combines general liability insurance with protection for your business property. You might hear it called property & liability insurance. Another great feature of this policy is that it can pay for lost income due to a covered property loss. You can also add endorsements like cyber, hired and non-owned auto liability, employment-related practices liability, and employee benefits liability to your BOP. 
  3. Workers' Compensation Insurance. Most states require this insurance for any company with employees. It helps protect your workers (and your company) if they get hurt, sick, or die from an on-the-job incident. It can cover medical costs, legal fees, and lost wages related to the injury. It can also pay a death benefit to a victim’s family. It can even be beneficial to carry workers’ comp if you're a solopreneur. 
  4. Commercial Auto Insurance. Installers often drive company-owned or leased trucks or vans. If your company has vehicles, this policy protects the business from the financial consequences of being found liable in an accident. It can cover your legal fees and the medical costs of others if you or your employee is at fault in an accident in your vehicle. It’s also helpful that the policy can pay for damages even if the vehicle is used for personal activities outside its primary business use.  
  5. Umbrella Insurance. Business liability insurance policies—like most insurance policies—have a maximum they’ll pay for a covered incident. If an incident costs more than a policy’s limit, your business has to come up with the difference. Umbrella insurance adds another layer of protection. In approved claims, it can cover costs that go over the limit of another biBerk liability policy (up to its own limit). Why not just get higher limits on your liability policies? In some instances, it makes more financial sense to carry umbrella insurance. 
  6. Cyber Insurance. We offer this coverage as an add-on to a general liability policy or a BOP. It helps cover specific costs related to system hacks or data security breaches where someone has stolen sensitive information and used it to commit fraud or is likely to.

Our website has lots of helpful information about these coverages. But if you have questions about professional installation insurance, our licensed insurance experts are happy to answer them. Don’t hesitate to reach out to biBerk.

Get Instant, Self-Service, Online Quotes for Installation Insurance

From cable installer insurance to appliance installation insurance policies, if you’re considering this type of coverage, you may be wondering, “What does insurance for professional installation companies cost?” Well, it’s easier than you might think to find out. All you have to do is answer some questions on our website, and we’ll generate an insurance quote specific to your business.

And because you don’t have to talk with a representative (unless you want to), you can get a quote whenever it’s convenient for you—before heading to a job site, while you eat your lunch, in the evening, or whenever you’ve got a few spare minutes. We want you to have all the information you need to make smart insurance decisions for your company.

The premiums for professional installation insurance policies vary based on things like the type of coverage, the size of your business, your claims history, and others. So, you’ll want to have that kind of info handy as you visit our website to get a quote.

To give you a general idea of business insurance costs, you can typically get a policy with $100,000+ of coverage for as little as a few hundred dollars annually. For most businesses, this protection is very affordable—even more so when they work with biBerk. Our direct-to-you approach means you’ll get major financial advantages over buying from most other insurance companies. We don’t work through brokers or other middlemen, so you can save up to 20% on your policies.

Buy From a Trusted Name in Professional Installation Company Insurance

biBerk is part of Warren Buffett’s Berkshire Hathaway Insurance Group. That’s important to business owners like you because it means we have the financial resources to pay approved claims fast and fully. Not every small business insurer can say that.

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What’s more, as a company, we’ve earned the trust of business owners in a wide variety of industries for several decades. Ask around, and you’re likely to find many of our happy customers. 

Getting solid financial protection takes just a few minutes. Buy your policies today and know you’re supported by the insurance industry’s most helpful team!   

biBerk: Smart about small.