Commercial Swimming Pool Insurance

Commercial Swimming Pool Insurance – Protect Your Investment

commercial swimming pool insurance

As a business owner, you should purchase the right type of commercial swimming pool insurance to protect your investment. Not having the right type of insurance coverage can result in a costly claim and a stressful situation. You can make sure that you are protected by the right type of policy by keeping these tips in mind. Read on for more information. There are several types of coverage available, including Business liability, Workers compensation, Property damage, and Other structures.

Business liability coverage

A commercial swimming pool business will benefit from Business Liability coverage. This policy will pay for the defense costs of claims arising from accidents or injury. A typical example would be an employee accidentally setting a client’s pool shed on fire or a leak that leads to a customer slipping and falling. In such cases, a general liability policy could cover the costs. Here are some reasons why you should consider purchasing this type of coverage.

Workers compensation coverage

If your swimming pool business relies on employees, you may have to purchase workers compensation coverage. This type of coverage covers medical costs for injured employees and provides a death benefit in the event of a covered accident. The policy also protects the business owner from lawsuits. Workers’ compensation coverage protects the pool business owner from any third party claims related to injury or illness. It may also include third-party property damage coverage.

Property damage coverage

Whether you operate a pool for pleasure or for profit, property damage coverage on your commercial swimming pool insurance policy will protect your business from the financial losses that can arise from an accident. When a cleaning agent spills a cleaning chemical in the swimming pool, the owner may sue for damages. This coverage will pay for the repair costs and any defense costs that you may incur as a result. If a customer suffers from food poisoning due to your pool water, you’ll also be covered for defense costs. Some insurance companies offer product liability coverage as a stand-alone policy.

Other structures coverage

Other structures coverage is typically included with homeowners insurance and does not require an additional premium. This coverage ensures that fixtures such as fences and freestanding mailboxes are protected. Depending on the specific coverage level, other structures can range from $300 to $1,000,000. You can also increase the limit to cover additional costs and protect other valuables in your business. But it is advisable to talk with your insurance agent before purchasing this type of coverage.

Costs of commercial swimming pool insurance

You may have to pay more for commercial swimming pool insurance if you own a home with a swimming pool. However, the cost is worth the extra coverage, especially if you own a large building with a lot of potential liability. The premium will vary from company to company, so you’ll need to compare policies. Generally, the limits for liability coverage are $300,000, $500,000, and $1 million, respectively.

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