| NEXT (Best) | Thimble | Hiscox |
|---|
| Aggregate limit | $5,000/$10,000 | $2,500/$5,000 | $5,000/$25,000 |
| Covers hired and borrowed equipment? | $5,000/$10,000 | $2,500/$5,000 | No |
| Miscellaneous equipment also covered? | $5,000/$10,000 | No | No |
| Offered as an endorsement to general liability insurance? | Yes | Yes | Yes |
| Deductible | $500 | $500 | $0 |
You use different types of equipment to build or install swimming pools. Since you're heavily reliant on them to complete jobs, it’s smart to get tools and equipment insurance for swimming pool contractors, paving contractors, and siding contractors.
Tools and equipment insurance will cover expenses if pool installation tools and equipment get damaged or lost because of fires, theft, vandalism, operator error, and other covered perils. Use the table above to compare the tools and equipment insurance of companies we recommend.
Excess Liability Insurance for Swimming Pool Contractors
Suppose your current policy stipulations do not cover the claims or scope of an incident. To mitigate this risk, you want to seek out extra coverage through excess liability coverage. Also called umbrella liability coverage, this covers claims exceeding the limits stipulated by the underlying policy's terms. Additionally, the umbrella policy covers losses outside of those outlined within the initial policy.
Let's look at a real-life example of when an umbrella liability policy would come in handy. Suppose you use a backhoe to dig a pool, and you accidentally destroy the customer's property. If the general liability coverage were to be depleted before the full settlement amount is covered, the umbrella coverage would step in to help you pay the amount in excess of the limits of the general liability coverage.
Commercial Property Insurance for Pool Contractors
| CoverWallet | NEXT (Best) | Hiscox | Thimble |
|---|
| Building coverage limit (minimum) | $50,000 | $100,000 | $25,000 | $25,000/$500,000 |
| Contents coverage limit (minimum) | $50,000 | $16,000 | $25,000 | $25,000/$500,000 |
| Outdoor signs | Excluded | $2,500 | Excluded | Excluded |
| Accounts receivable | Excluded | Excluded | Included | $5,000/$10,000 |
| Money and securities | Excluded | $2,500 | Included | $1,000 |
| Lock and keys | Excluded | $2,500 | Excluded | Excluded |
| Business interruption floater | Excluded | Included | Included | Included |
| Equipment breakdown floater | Excluded | Included | Excluded | Excluded |
| Inland marine insurance floater | Excluded | Excluded | Excluded | $10,000 |
| Employee dishonesty floater | Excluded | $5,000 | Included | $2,500 |
Chances are that as a pool contractor, you own or lease property. You want to protect said property with commercial property insurance. The table above allows you to compare the features of the commercial property insurance from the best insurance companies for swimming pool contractors.
Significant investments must be made to run a swimming pool business well. You need to have an office, a warehouse for storing equipment and construction materials, as well as safety gears for employees.
The first job of commercial property insurance is to reimburse losses if fire, theft, vandalism, weather, falling objects, vehicles, and other covered perils.
As for its second function, commercial property insurance for swimming pool contractors, EIFS contractors, and fence contractors can be used to avoid financial strain if computers, equipment, construction materials, and valuable papers and records get damaged or destroyed while in the business premises.
Business Owner’s Policy for Swimming Pool Contractors
| CoverWallet | Thimble | NEXT (Best) | Hiscox |
|---|
| General liability aggregate limit | $2,000,000 | $2,000,000 | $2,000,000 | $300,000/$2,000,000 |
| Commercial property coverage limit | $50,000 | $500,000 | $100,000 | $25,000 |
| Optional policies can be added? | Yes | Yes | Yes | Yes |
| Name additional insureds for free? | Yes | Yes | Yes | Yes |
| BOP discount? | Yes | Yes | Yes | Yes |
A business owner’s policy is an insurance product that’s made by combining general liability insurance and commercial property insurance. Consider getting this if you want a policy that provides a quick and straightforward coverage against commercial losses and legal liabilities.
By the way, a business owner’s policy can be added with professional liability, inland marine, and other policies depending on which insurance company designed it. Use the table above to compare the business owner’s policies of companies we recommend.
Inland Marine Insurance for Swimming Pool Contractors
Typical of any trade in the construction industry, chances are you'll be moving your wares, tools and equipment from a workshop to a customer's property. During this move, there's a likelihood that any of these could be stolen, vandalized, or damaged. As such, you want to protect these from some of the common perils with inland marine coverage.
The inland marine policy caters to the cost of repair or replacement, thus significantly cutting down the downtime. This means that you can be up and running even when the unexpected happens.
It is important to mention that inland marine coverage will, at times, be sold as"floater" coverage. This means that you can avail it as an add-on to commercial property insurance or business owner’s policy.
Commercial Auto Insurance for Swimming Pool Contractors
If you have a motor vehicle that you use to transport your wares, tools, equipment and employees from one site to the other, it would be best that you get a commercial auto policy. The latter covers you in the event that the motor vehicle causes property damage or bodily injury.
Other than the third-party property damage and medical bills, commercial auto coverage also covers theft, vandalism, and weather damage on the commercial motor vehicle.
Commercial auto insurance can be also used to cover the medical treatment of passengers if your commercial vehicle gets involved in an accident caused by an uninsured/underinsured driver.
Builders Risk Insurance for Swimming Pool Contractors
Are you worried about the swimming pool getting damaged before it’s completed? Then consider getting builders risk insurance. Builders risk insurance provides reimbursement for losses in case something happens to the pool during construction.
Pool Pop up Insurance Coverage
Typically, you'll find the pool pop up insurance coverage within the products and completed operations policy. True to the name, the policy acts as an endorsement to general liability insurance that covers the potentially high cost of product replacement.
In your case, products and completed operations coverage can reimburse the financial losses of the client, cover medical treatments if your defective work caused injuries, and even pay for extra labor costs for reversing the pool pop up.
