Fire Suppression Insurance
Insurance for Fire Suppression Contractors
When it comes to insurance, the fire suppression industry’s risks are multi-pronged and stem from the risks inherent in design, installation, repair, testing, and servicing. Whether you provide waterless fire suppression systems, wet sprinkler systems, pneumatic heat detection tubes, pressurized gas systems, or foam deluge systems, your business needs insurance to cover a range of potential issues.
Your services are also vastly affected by the regulatory environment, including building codes and fire codes, leading to the potential for some serious claims involving flood or fire. Couple this with the fact that the industry is known for its severity of claims, and a fire suppression company owner may be left with only limited insurance program options and high premiums.
Protect Profits with the Right Insurance Coverage
There are ways, however, to mitigate the impact of such coverage on your bottom line. The first place to start: operations. Our Central Insurance Agency team of experts will review your current policies and day-to-day business practices to identify possible risk mitigation and cost savings areas. For example, most professional liability policies fail to mention the testing dynamic and its effect on coverage, such as an inspected system that doesn’t deploy properly. Our team is well qualified to recognize these kinds of issues with a line-by-line assessment of your current coverage.
Win More Bids and RFPs
As you know, when any contractor in the U.S. builds or renovates a structure of 5,000 square feet or more, federal fire codes mandate that those contractors also install an adequate fire suppression system. Most RFPs require bidders to show proof of a prerequisite level of fire suppression insurance. Often, the amount of coverage specified in the RFP can far exceed your company’s current coverage. At this point, you may be tempted to walk away from the bidding process.
However, instead of withdrawing, contractors like you can have CIA review your insurance policies and recommend options for the additional required insurance you may need. The CIA team of experts can find a cost-effective solution, even if your fire suppression company has been unable to obtain the necessary levels of insurance in the past.
Don’t Sweat Insurance Audits
CIA brokers are also available to help you audit current policies, identify errors or omissions, help correctly classify employees, create insurance packages that meet customer needs, and advise on ways to incorporate insurance costs into fees. CIA can also assist with insurance audits or even represent your company during an audit.
Once your firm has the qualifying level of fire suppression insurance, you’re able to bid on more contracts, close more deals, and grow your company more quickly.
CIA Knows Fire Suppression Insurance
CIA is a fire suppression contractor insurance company that offers general liability, workers’ compensation, professional liability, excess umbrella, commercial auto, employment practices liability, and bonding insurance. CIA brokers work with a wide range of fire suppression insurance carriers, so they have many ways to create the best policies for you. How can we help you?
Central Insurance Agency, Inc. is more than our general liability carrier. Alice and her team are friends of ADS. Each time we seek assistance, we are met with both a friendly attitude and professionalism. They process our certificates promptly with attention to the details of the request. They provide an open line of communication whenever we or they have questions. We have enjoyed a collaborative experience with Central Insurance Agency for the past 30+ years.
– Paula Knaub, Sales Support, Alarm Detection Systems, Inc., Illinois and Colorado