Table of contents
Supermarkets and other big retail establishments utilize elevators so customers can move around without exerting effort. Of course, making sure that these elevators are safe and work well are elevator installers.Â
You face risks as an elevator installer. A commercial construction company might sue you for installing a faulty elevator. You can also injure someone accidentally. With the proper insurance coverage, you are financially protected against accidents, liability claims, and property damage.
| CoverWallet | NEXT (Best) | Thimble | Hiscox | The Hartford | |
|---|---|---|---|---|---|
| Per occurrence limit | $1,000,000 | $500,000/$1,000,000 | $1,000,000/$2,000,000 | $300,000/$2,000,000 | $1,000,000 |
| Aggregate limit | $2,000,000 | $1,000,000/$2,000,000 | $1,000,000/$2,000,000 | $300,000/$2,000,000 | $2,000,000 |
| Products and completed operations aggregate limit | $2,000,000 | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 |
| Advertising injury coverage aggregate limit | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 |
| Tenant’s legal liability coverage limit | $100,000 | $100,000 | $5,000 | $100,000 | $100,000 |
| Waiver of subrogation included? | Yes | No | Included | Can be included | No |
| Hired/non-owned auto liability coverage included? | Yes | No | Excluded | Can be included | No |
| Equipment breakdown floater included? | No | Yes | Yes | Can be included | Yes |
| Can you get a certificate of insurance online? | Yes | Yes | Yes | Yes | Yes |
| Name additional insureds? | Yes | Yes | Yes | Yes | Yes |
| Deductible | $0 | $0 | $0 | $0 | $0 |
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General liability insurance is an insurance that protects from financial losses resulting from third-party bodily injury, property damage, or other liabilities that may arise during the course of their operations. It typically covers legal defense costs, medical expenses, restorations for property damage, and settlements or judgments resulting from covered incidents.Â
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Coverage Limit of s typically range between $1 million and $5 million, providing substantial protection in the event of claims for property damage or bodily injury.
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General liability insurance does not cover professional errors, omissions, or negligence claims. This means that elevator installers may not be covered under their general liability policy if they make errors during the installation process or provide incorrect advice.
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| CoverWallet | NEXT | Thimble (Best) | Hiscox | The Hartford | |
|---|---|---|---|---|---|
| Per occurrence limit | $1,000,000 | $1,000,000 | $1,000,000/$2,000,000 | $1,000,000 | $1,000,000 |
| Aggregate limit | $2,000,000 | $2,000,000 | $1,000,000/$2,000,000 | $2,000,000 | $2,000,000 |
| Name additional insureds? | Yes | Yes | Yes | Yes | Yes |
| Waiver of subrogation included? | Yes | No | Yes | Yes | No |
| License defense coverage included? | No | No | No | No | Can be included |
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Professional indemnity insurance protects against financial losses resulting from carelessness, errors, or omissions. This insurance policy covers legal defense, settlement or judgment fees, and related expenditures for covered claims.
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The coverage limits may range from $500,000 to $1,000,000, depending on the potential for significant financial loss or damages resulting from errors or negligence.
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Make sure the insurance policy covers all elevator installation risks and liabilities. Check the elevator installation insurance policy. Claims and legal fees should be covered. In the event of a claim, checking the insurer’s reputation, financial stability, and claims process ensures support. Understanding policy exclusions and restrictions prevents coverage gaps.
Get all the best quotes from leading providers in a click of a button!
| CoverWallet | NEXT (Best) | Thimble | Hiscox | The Hartford | |
|---|---|---|---|---|---|
| Building coverage limit (minimum) | $50,000 | $25,000 | $25,000/$500,000 | $25,000 | $60,000 |
| Contents coverage limit (minimum) | $50,000 | $25,000 | $25,000/$500,000 | $15,000 | $60,000 |
| Outdoor signs | Excluded | $2,500 | Excluded | Included | Excluded |
| Accounts receivable | Excluded | Excluded | $5,000/$10,000 | Included | Excluded |
| Money and securities | Excluded | $2,500 | $1,000 | Included | Excluded |
| Lock and keys | Excluded | $2,500 | Excluded | Included | Excluded |
| Business interruption floater | Excluded | Included | Included | Included | Excluded |
| Equipment breakdown floater | Excluded | Included | Excluded | Included | Excluded |
| Inland marine insurance floater | Excluded | Excluded | $10,000 | Excluded | Excluded |
| Employee dishonesty floater | Excluded | $5,000 | $2,500 | Excluded | Excluded |
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Commercial property insurance is designed to protect elevator installation businesses and their assets against a variety of risks and potential losses. This insurance protects the physical property, apparatus, and stock of elevator installation businesses.
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Typically, the coverage limits will be determined based on factors such as the value of the insured property, the potential risks involved, and the financial capacity of the insured. In general, it ranges from $15,000 to $50,000.
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| CoverWallet | NEXT (Best) | Hiscox | Thimble | The Hartford | |
|---|---|---|---|---|---|
| General liability aggregate limit | $2,000,000 | $500,000/$2,000,000 | $300,000/$2,000,000 | $1,000,000/$2,000,000 | $1,000,000/$2,000,000 |
| Commercial property coverage limit | $50,000 | $25,000 | $25,000 | $25,000/$500,000 | $75,000 |
| Optional policies can be added? | Yes | Yes | Yes | Yes | Yes |
| Name additional insureds for free? | Yes | Yes | Yes | Yes | Yes |
| BOP discount? | Yes | Yes | Yes | Yes | Yes |
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A business owner’s insurance policy for elevator installers combines multiple types of coverage into a single package. Installers of elevators are exposed to specific liabilities related to their work, and a BOP provides essential protection against these risks.
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The coverage limits for a business owner’s policy vary depending on the specific policy and insurer. It typically includes general liability coverage ranging from $100,000 to $2,000,000 and property coverage based on the value of the insured property.
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| NEXT (Best) | Thimble | Hiscox | The Hartford | |
|---|---|---|---|---|
| Aggregate limit | $3,000/$10,000 | $2,500/$5,000 | $15,000/$25,000 | $5,000-$10,000 |
| Covers hired and borrowed equipment? | $3,000/$10,000 | $2,500/$5,000 | No | Yes |
| Miscellaneous equipment also covered? | $5,000/$10,000 | No | Yes | Yes |
| Offered as an endorsement to general liability insurance? | Yes | Yes | Yes | Yes |
| Deductible | $500 | $500 | $0 | $0 |
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Tools and equipment insurance is designed to protect the tools, apparatus, and equipment used by elevator installers. This insurance helps elevator installers recover the costs associated with repairing or replacing their essential tools and equipment if these items are damaged, stolen, or lost.
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The coverage limit for Elevator Installers’ Tools and Equipment Insurance can vary depending on the policy and insurance provider selected. It starts from $100,000 to $1,000,000.
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Theft: If valuable tools or equipment are stolen from a job site, Tools and Equipment Insurance can reimburse the insured for the cost of the stolen items, up to the coverage limit.
Elevator installers must determine the total value of their tools, apparatus, equipment, and other specialized devices. This evaluation should include equipment that is both possessed and leased or rented. Accurately estimating the value of these products is essential for establishing an adequate coverage limit.
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Commercial auto insurance for elevator installers is a form of coverage designed to safeguard businesses and individuals engaged in elevator installation and maintenance against financial losses resulting from accidents that occur while operating their vehicles for business purposes. It covers business vehicles such as trucks, trailers, and other commercial automobiles.
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The coverage limit for elevator installers’ commercial auto insurance can vary based on the specific policy and insurance provider. It often covers $100,000 to $1,000,000.
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Elevator installers should emphasize numerous factors while choosing commercial auto insurance. First, the policy’s coverage kinds and limitations must match the business’s needs. Liability, collision, comprehensive, and uninsured/underinsured driver coverage is crucial. Second, balancing cost and coverage requires assessing insurance premiums and deductible affordability.Â
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Excess liability insurance provides extended financial protection for unforeseen accidents or incidents and safeguards against high-value claims.Â
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Excess Liability Insurance for Elevator Installers’ coverage limits  typically ranges from $100,000 to $1 million, depending on the specific policy and the needs of the policy and installer needs.
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Workers’ compensation insurance benefits elevator installers and technicians who sustain work-related injuries or illnesses. Elevator installation and maintenance work can involve certain risks and hazards, making it essential for employers in this industry to have workers’ compensation coverage.
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The coverage limits for this elevator business insurance may vary depending on which state you’re working.Â
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Training and certification in elevator installation safety can affect workers comp insurance costs. When assessing risk and determining premiums, insurance companies frequently consider the safety practices and qualifications of the insured.Â
| Cost per Month | Cost per Year | Deductible | |
|---|---|---|---|
| General liability insurance | $44 | $528 | $0-$500 |
| Professional liability insurance | $51 | $612 | $1,000-$2,000 |
| Commercial property insurance | $60 | $720 | $1,000-$2,000 |
| Business owner’s policy | $95 | $1,140 | $1,500 |
| Tools and equipment insurance | $46 | $552 | $500-$1,000 |
| Commercial auto insurance | $58 | $696 | $500-$1,000 |
| Workers compensation insurance | $103 | $1,236 | $2,500-$5,000 |
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The average elevator installer insurance cost is $44 per month or $528 per year. Factors that affect premiums are claims history, business history, policy limits, deductibles, annual revenues, location, and number of employees. Here’s a table showing the cost of a $1 million general liability policy from the best companies:
| Cost per Month | Cost per Year | Best for | |
|---|---|---|---|
| NEXT | $25 | $300 | Best overall; Fastest general liability insurance for elevator installers |
| CoverWallet | $27 | $324 | Comparing elevator installer insurance quotes online |
| The Hartford | $32 | $384 | Workers compensation insurance for elevator installers |
| Tivly | $36 | $432 | Comparing elevator installer insurance quotes over the phone |
| Hiscox | $42 | $504 | Elevator installer insurance with worldwide coverage |
| Thimble | $49 | $588 | On-demand coverage for elevator installers |
Get all the best quotes from leading providers in a click of a button!
Here are the best elevator installer insurance companies. Read some of the reviews below to know their pros, cons, and average rate for a $1 million general liability policy.Â
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NEXT is a specialized insurance provider that offers elevator installers and contractors coverage. The company focuses on safeguarding these professionals against the various hazards and liabilities associated with their line of work.
Best for: Best overall; Fastest general liability insurance for elevator installers
Average cost: $25 per monthÂ
Our rating: 10/10
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CoverWallet is an insurance platform that makes it easier for small enterprises to obtain coverage. It provides a vast array of insurance products and services for elevator installers. Moreover, this company further allows for a streamlined policy management experience through its online dashboard.Â
Best for: Comparing elevator installer insurance quotes onlineÂ
Average cost: $27 per month
Our rating: 10/10
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The Hartford provides many insurance products and services, including coverage alternatives for various industries and professions. They are well-known for their expertise providing small and medium-sized enterprises with comprehensive insurance solutions.Â
Best for: Workers compensation insurance for elevator installers
Average cost: $32 per month
Our rating: 10/10
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Elevator installers can benefit from a unique dual-sided marketplace that connects them with insurance providers. Tivly’s objective is to simplify the insurance process for businesses and providers alike. By utilizing Tivly’s platform, businesses can gain access to a diversified network of many insurance agents, brokers, and carriers actively seeking consumers.Â
This marketplace enables businesses to research various insurance options and obtain coverage that is suited to their specific elevator installation needs. Call now to compare quotes over the phone.Â
Best for: Comparing elevator installer insurance quotes over the phone
Average cost: $36 per month
Our rating: 9/10
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Thimble is an insurance technology company that offers flexible, on-demand insurance coverage to small businesses and independent contractors. They aim to offer insurance options that accommodate the evolving needs of the freelance economy and flexible work arrangements.
Best for: On-demand coverage for elevator installers
Average cost: $49 per month
Our rating: 9/10
Hiscox is a well-established global insurance company specializing in providing businesses, professionals, and individuals with various insurance coverage. They are well-known for customizing insurance solutions to satisfy the needs of various industries and professions.
Best for: Elevator installer insurance with worldwide coverage
Average cost: $42 per month
Our rating: 8/10
10 / 10
For me this company has proven to be the best to do business with and worth my hard earned money. Contractors this is your company look no further.
7.7 / 10
Decent experience with Hiscox business insurance
10 / 10
Good company. Good and knowledgable customer service. If they don't know something they will pass you on to a more experienced rep that is more knowledgable. So far so good.
10 / 10
Best insurance ever
10 / 10
Coolest concept, I wish this was applied to other insurance products too.
9.4 / 10
Fastest ever online insurance quote and purchase! Also, great rates and professional customer reps that helps with whatever you need, if you need. Nice company!
2.8 / 10
Embroker sells a product that it doesn't honor. We purchased a combination D&O and EPLI policy. However, when it came to renewal, it told us that we only had D&O coverage even through our ACCORD certificate clearly mentions we have both. Basically they refused to honor the EPLI coverage and will leave you hanging with the bag. At time of renewal, they more than doubled our quote to get similar coverage. Basically BAIT & SWITCH. Unacceptable tactics. Easy to buy and pay but you may not be... Read More
2.8 / 10
Great platform. Terrible policy. There is no teeth behind it. No coverage. It's a fake policy that they sell. Sold us an EPLI policy that later we came to find out had no EPLI coverage. Amazing that they can get away with outright fraud. Check the positive reviews. They are all 'Anonymous' posted by Emroker staff. Stay away and find a real policy that will actually provide you coverage. We've been bitten by them and hope to find restitution via a lawsuit.
Paul Burns Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
It has been 70 days since I made a claim on the roof of my building. No one from the company will return calls. We are in hurricane season and located in Louisiana. My building is tarped to secure it.
Felicia Broadus Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
They are the worst, my truck was hit in January 23 and the claim adjuster has not been out to this very day! They have every excuse in the book as to why. They have not been to the collision shop. PLEASE AVOID THESE SCAM ARTIST!
Felicia Broadus Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
Avoid these SCAM ARTISTS! They don’t pay claims!!! Save yourself the trouble and money!
Kasey Arey Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
This company gives you a price that was in place for a year and when you have to use it there is fine print were they can go back and charge you more. Would not recommend them to any one. Crooks
John Murphy Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
Worst insurance comapny I have ever dealt with. A commercial vehicle represented by GUARD t boned my wife and daughters family vehicle in the middle of the day. Driver was cited and insurance claim insued. Fast forward 4 months and refusal of full amount of claim is still happening. Driver was found guilty, repairs started on my vehicle and when it comes to the final bill and diminished value we cannot get any help. I am out a family car, have an injured and traumatized wife and children,... Read More
Harshadray Patel Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
Extremely bad service, when you call , will make you wait on the phone for ever (over an Hour) and still no one to answer , so you end up hanging up. To cancel the policy, bounce you from one department to the other. They are supposed to refund from the date other insurance started and after sending the proof of other insurance policy, still they did not refund based on that actual date instead they use the date i managed to get hold of them. They charged me $7000.00 for a year's insurance on... Read More
Aaron Wensel Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
Guard Insurance is terrible. They were so bad I cancelled them because them couldn't figure out why I would never get a paper copy of the bill . Verified my address with them and still intermittent billing. I cancelled them in March through my local broker. Today 6/27 I get a letter in the mail from a collections company saying I owe 87.97. This was the first myself or my broker heard of owing this money. Here is some advice for this failure of a company send me a god damn bill and I will pay.... Read More
Michael Swink Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
My employer had to have workers compensation by law. He obtained a policy through this Berkshire Hathaway GUARD and they failed me. I fell from a ladder and fractured my spine in 7 different places, my clavicle in 4 places, and the base of my skull. Going to my Dr visits I was prescribed medication for pain and the insurance company placed a pre-authorization hold on me picking up the medication from Walgreens. The hold lasted 5 days! My weekly benefits have never been on time, right now... Read More
10 / 10
Liberty Mutual is one of the more simple companies to deal with. I had to file a claim for my business owner policy after I caught one of my employees stealing a large amount of products from my business. Liberty mutual paid the claim fast and with no efforts. I wish the legal process was as easy…
10 / 10
For me this company has proven to be the best to do business with and worth my hard earned money. Contractors this is your company look no further.
7.7 / 10
Decent experience with Hiscox business insurance
9.4 / 10
Very pleased with Hiscox - their small business insurance rates are very good and they specialize in small business which gives me a peace of mind as a small business owner. So far so good!
10 / 10
Their customer service is absolutely fantastic. Very patient, knowledgable and provided excellent explanation of the purchased policy. I would highly recommend this insurance company to anyone that's looking to protect their business from unexpected expense. Thank you Hiscox for doing a great job for my business!
0.6 / 10
STAY AWAY! I wouldn't recommend hiscox small business liability insurance to anyone. Better not waste both your money and your time. Hiscox customer service is extremely unpleasant, not organized and not professional. It is the worst company we have dealt with in almost 25 years in business!
10 / 10
Good company. Good and knowledgable customer service. If they don't know something they will pass you on to a more experienced rep that is more knowledgable. So far so good.
10 / 10
Extremely fast and simple. Wasted a lot of time and money until I found these guys! I feel like my business is in good hands now.
10 / 10
Hiscox's the best! My business is insured with them for over 12 years and am not planning to switch!
10 / 10
Excellent experience with Hiscox BOP for my coffee shop. They provided all it needed.
10 / 10
My HI barbershop is well covered with their great BOP product for 5 years already! not planning to switch!
10 / 10
Best insurance ever
10 / 10
Coolest concept, I wish this was applied to other insurance products too.
10 / 10
Great experience
6 / 10
Didn't relate to the concept much, but it makes sense if you need insurance to go
0 / 10
It doesn't really feel sustainable to me and doesn't offer business interruption, product liability and commercial property insurance. They have no local agents and despite their technology first approach you cannot file claims online. Additionally, product manufacturers are not covered by Thimble and they don't provide enterprise solutions.
10 / 10
As a contractor that works 3 times a week for a few hours, Thimble gets really handy for me and saves me money. I have no use for these massive business insurance coverages offered by traditional insurance companies.
10 / 10
Excellent concept which is useful to many small businesses!
10 / 10
Been waiting for this type of solution for a long time!
10 / 10
Love their business insurance solutions for freelancers! Great app!
Not all those who wander are lost.
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