The global fire sprinklers market reached a value of $10.7 billion in 2020. These systems — which consist of a water supply and distribution piping system installed on walls or ceilings — have always been popular in industries such as oil and gas, are becoming more in-demand for the residential, healthcare, and transportation sectors.
This is good news for fire sprinkler contractors, who will certainly benefit from the expanding market. But, if you want to make sure you are marketable and doing good business, it is important that you have the appropriate insurance for your business.
Insurance for fire sprinkler contractors includes general liability insurance that will protect in a wide variety of circumstances. It will protect you and your business should there be an accident in your office or damage done to the property of a customer.
General liability for fire sprinkler contracts as offered by companies like insurance solutions of America, typically includes:
- Premises liability: This will cover your business in the case of accidents in your business location.
- Products liability:This will cover you should a product you sell to a customer — such as a sprinkler — cause damage or injury to that customer or their business. For example, it will cover the cost of water damage should a sprinkler malfunction and go off unexpectedly.
- Completed Operations: Should you receive complaints after an installation and your contract are complete, this line will cover any damages or costs you experience.