Table of contents
a water restoration contractor, your clients appreciate the help you provide in the pursuit of their Water restoration insurance settlements. Such protection from fire and water damage losses gives them peace of mind, but does your business have the same level of coverage?
As you undertake various repairs or rebuilding projects, you get exposed to risks and hazards. In a situation, projects might display defects later after they’ve been completed. These can lead to lawsuits and send your business’ finances on a downward spiral.Â
It is a type of insurance coverage designed for businesses that operate in the restoration and remediation industry. Depending on your specific needs, your fire and water restoration contractors insurance policy may provide coverage for:
General liability and professional liability are the two types of water restoration liability insurance. These protect your water restoration business against lawsuits. The sections below discuss how each works.Â
| CoverWallet | NEXT (Best) | Thimble | |
| Per occurrence limit | $1,000,000 | $1,000,000 | $1,000,000/$2,000,000 |
| Aggregate limit | $2,000,000 | $2,000,000 | $1,000,000/$2,000,000 |
| Name additional insureds? | Yes | Yes | Yes |
| Waiver of subrogation included? | Yes | No | Yes |
| Deductible | $500 | $500 | $500 |
A general liability policy offers financial protection if the operations of your water restoration business inflicted bodily injuries or property damage to clients.Â
Your employee might accidentally damage a client’s valuables while removing mold from the floors and walls; in that case, general liability insurance covers the repair and replacement costs.Â
Most water restoration businesses need to have a $1 million-$2 million general liability policy. Having this much coverage ensures that your business is well-protected and contract insurance requirements are met with ease.Â
Yes. Insurance companies include products and completed operations coverage in their general liability policy for water restoration contractors. This will cover costs if defects in a water restoration project caused further damage to a client’s building or resulted in injuries to the occupants.Â
Endorsements are available which you can use to customize a general liability policy. The most common ones are:
| CoverWallet | NEXT (Best) | Thimble | |
| Per occurrence limit | $1,000,000 | $1,000,000 | $1,000,000/$2,000,000 |
| Aggregate limit | $2,000,000 | $1,000,000/$2,000,000 | $1,000,000/$2,000,000 |
| Products and completed operations aggregate limit | $2,000,000 | $1,000,000 | $1,000,000 |
| Advertising injury coverage aggregate limit | $1,000,000 | $1,000,000 | $1,000,000 |
| Tenant’s legal liability coverage limit | $100,000 | $100,000 | $5,000 |
| Waiver of subrogation included? | Yes | No | Included |
| Hired/non-owned auto liability coverage included? | Yes | No | Excluded |
| Equipment breakdown floater included? | No | Yes | Yes |
| Can you get a certificate of insurance online? | Yes | Yes | Yes |
| Name additional insureds? | Yes | Yes | Yes |
| Deductible | $0 | $0 | $0 |
Also referred to as errors & omissions (E&O) insurance, this water restoration business insurance protects you in case of damages caused by negligence, a mistake, an error, or failure to provide a service.
| CoverWallet | NEXT (Best) | Thimble | |
| Building coverage limit (minimum) | $50,000 | $280,000 | $25,000/$500,000 |
| Contents coverage limit (minimum) | $50,000 | $18,000 | $25,000/$500,000 |
| Outdoor signs | Excluded | $2,500 | Excluded |
| Accounts receivable | Excluded | Excluded | $5,000/$10,000 |
| Money and securities | Excluded | $2,500 | $1,000 |
| Lock and keys | Excluded | $2,500 | Excluded |
| Business interruption floater | Excluded | Included | Included |
| Equipment breakdown floater | Excluded | Included | Excluded |
| Inland marine insurance floater | Excluded | Excluded | $10,000 |
| Employee dishonesty floater | Excluded | $5,000 | $2,500 |
Commercial property insurance protects your office, its fixtures, furnishings, electronics, and equipment if destroyed or damaged by a covered event. Use the table above to see which insurance company offers the best commercial property insurance for water restoration businesses.Â
Get all the best quotes from leading providers in a click of a button!
Commercial property insurance will reimburse your financial losses that resulted from the occurrence of these commercial threats:
| CoverWallet | Thimble | NEXT (Best) | |
| General liability aggregate limit | $2,000,000 | $1,000,000/$2,000,000 | $1,000,000/$2,000,000 |
| Commercial property coverage limit | $50,000 | $25,000/$500,000 | $280,000 |
| Optional policies can be added? | Yes | Yes | Yes |
| Name additional insureds for free? | Yes | Yes | Yes |
| BOP discount? | Yes | Yes | Yes |
A business owner’s policy allows you to bundle general liability and commercial property insurance into one insurance product. This results in cheaper premiums and easier policy management. Use the table above to see which insurance company offers the best business owner’s policy for water restoration contractors.Â
| NEXTÂ | Thimble | Hiscox | |
| Aggregate limit | $3,000/$10,000 | $2,500/$5,000 | $15,000/$25,000 |
| Covers hired and borrowed equipment? | $3,000/$10,000 | $2,500/$5,000 | No |
| Miscellaneous equipment also covered? | $5,000/$10,000 | No | Yes |
| Offered as an endorsement to general liability insurance? | Yes | Yes | Yes |
| Deductible | $500 | $500 | $0 |
Your water restoration equipment doesn’t only get damaged or lost in the warehouse or office.
In fact, this usually happens while you and your team are working at the client’s house or taking a break at a local fast food restaurant. In connection, tools and equipment insurance reimburses your losses in such a situation.Â
Use the table above to see which insurance company offers the best tools and equipment insurance for water restoration businesses.
Tools and equipment insurance will grant coverage when these things happen to your water restoration equipment while it’s at a location outside of the premises of your business:
Don’t forget workers’ compensation insurance. You need this coverage to cover unexpected expenses with no problems. if a part-time or full-time employee falls from a height, slips, trips over a machine’s chord, get exposed to a harmful chemical, or gets cut by debris.Â
When work-related accidents happen, workers’ compensation insurance provides the money that covers the medical treatment, hospitalization, medication, rehabilitation, lost wages, and death benefits of an employee.Â
General liability, professional liability, commercial property, business owner’s policy, and tools and equipment insurance are the most common inclusions in a water damage restoration insurance package. But note that depending on which insurance company you work with, you can further avail of these policies:
Pollution liability insurance covers the medical costs, the necessary repairs, and clean-ups if debris and chemicals are released to the environment by accident.Â
This coverage protects you from third-party bodily injuries and property damages if your business car is involved in an accident, stolen, vandalized, or damaged by inclement weather.Â
Inland marine insurance will reimburse the cost of tools and equipment as well as water restoration supplies that get damaged or lost during transportation because of fire, theft, vandalism, and other covered perils.Â
Builders’ risk insurance is helpful if you’re working on a water restoration project that will run for days or weeks. If the materials and equipment you left on the project site get damaged or destroyed due to theft, explosions, vandalism, impact, lightning, and weather, builders risk insurance will reimburse your losses and see to it that the work won’t be delayed.Â
Employee dishonesty insurance will reimburse lost money if an employee commits social engineering, theft, destruction of money, embezzlement, and other dishonest acts against your business.Â
Remediation and installation are two very different things. Therefore, your water restoration insurance package will not cover the installation of stucco and other insulation. Consider purchasing an EIFS and insulation contractor insurance package to avoid coverage gaps.Â
No. A water treatment insurance program is designed for plants that process dirty water for consumption and daily use. Water restoration insurance is for businesses that are involved with the removal of dirty water and other debris in buildings and other areas.
The Client is Accusing Me of Overcharging for My Water Restoration Services. Can I Use Professional Liability Insurance if a Lawsuit is Filed?
Yes. Frivolous claims for overcharging can be covered by professional liability insurance. However, if it’s proven in a court of law that you or an employee tried to milk the customer, then coverage will never apply.Â
| Cost per Month | Cost per Year | Deductible | |
| General liability insurance | $71 | $852 | $0-$500 |
| Professional liability insurance | $90 | $1,080 | $0-$500 |
| Pollution liability insurance | $140 | $1,680 | $500-$1,000 |
| Commercial property insurance | $80 | $960 | $1,000-$2,500 |
| Business owner’s policy | $130 | $1,560 | $500-$1,000 |
| Workers compensation insurance | $200 | $2,400 | $2,000-$5,000 |
| Commercial auto insurance | $150 | $1,800 | $1,000 |
| Builders risk insurance | Depends on the value of the property to be covered | Depends on the value of the property to be covered | $500-$1,000 |
| Inland marine insurance | Depends on the value of the property to be covered | Depends on the value of the property to be covered | $500-$1,000 |
The average water restoration insurance cost is $71 per month or $852 per year for a $1 million general liability policy. Factors that affect the cost of premiums are:
Here’s another table showing how much the recommended charge for their $1 million general liability policy for water restoration contractors:
| Cost per Month | Cost per Year | Best for | |
| NEXT | $50 | $600 | Best overall; Fastest general liability insurance |
| CoverWallet | $54 | $648 | Comparing insurance quotes for water restoration businesses online |
| Tivly | $55 | $660 | Comparing insurance quotes for water restoration businesses over the phone |
| Thimble | $55 | $660 | On-demand water restoration insurance |
| Sadler | $100 | $1,200 | Industry specific coverage |
| ARMR | $208 | $2,496 | Businesses looking for an inclusive insurance package |
Consider comparing quotes to get the best coverage at a reasonable price.Â
Get all the best quotes from leading providers in a click of a button!
Here are some reviews of the best water restoration insurance companies. Read to know their pros, cons, and cost of a $1 million general liability policy.Â
NEXT is a small business insurance company that provides tailored policies for all small business needs through a tech-first approach. it handles its own claims as it’s independently rated by AM Best for superior financial strength, unlike other online insurers that depend on their parent companies.
Best for: Best overall; Fastest general liability insurance
Average cost: $50 per monthÂ
Our rating: 10/10
CoverWallet doesn’t have a water restoration insurance package. What it sells instead is a remediation service insurance bundle that’s made up of the following:
Best for: Comparing insurance quotes for water restoration businesses onlineÂ
Average cost: $54 per month
Our rating: 10/10
Tivly covers water restoration businesses through its insurance package for different types of contractors. Policies you can avail from this are general liability, commercial property, business owner’s policy, and more. You need to call a Tivly representative to compare quotes and know the limits of your policies.Â
Best for: Comparing insurance quotes for water restoration businesses over the phone
Average cost: $55 per month
Our rating: 10/10
Thimble sells a water restoration insurance package. However, it will redirect you to a Tivly representative. Nonetheless, Thimble is a good option because any customers it sends to its partner quickly get a desired coverage with no hassle.Â
Best for: On-demand water restoration insurance
Average cost: $55 per month
Our rating: 9/10
ARMR has been providing standardized environmental insurance policies for over 35 years.Â
The company offers various insurance products, including Commercial General Liability, Pollution Liability, and Professional Liability.Â
Apart from that, the company boasts an A+ rating for customer-focused policy issuance. ARMR is licensed in 50 states, and its insurance packages are acceptable to all major business franchises and networks.Â
Best for: Businesses looking for an inclusive insurance package
Average cost: $208 per month
Our rating: 8/10
Sadler & Co. has provided insurance products and services since 1957. That history and experience are critical. Fire and water restoration insurance can be complex, and are not the things you can master overnight.Â
You can rely on Sadler to provide quality insurance forms at competitive prices on virtually any policy. It’s your one-stop shop for general liability, professional liability, business auto insurance, bailees coverage, commercial property insurance, and environmental liability coverage.Â
Best for: Industry specific coverage
Average cost: $100 per monthÂ
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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