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Typical Insurance requirements? A question for fire sprinkler contractors

Typical Insurance requirements? A question for fire sprinkler contractors

Typical Insurance requirements? A question for fire sprinkler contractors

(OP)
Can someone who owns their own company give me an idea of what AHJ's and other regulators typically require for Sprinkler Contractors to carry as far as insurance goes? And an idea of the cost associated? (I have some knowledge from research, but need a professional POV)

Is there a difference if I am doing new install only versus doing only service work?

RE: Typical Insurance requirements? A question for fire sprinkler contractors

Most, if not all, jurisdictions require a contractors license and fire sprinklers are not an exception. Even in states where a specific fire sprinkler contractors license is not required, South Dakota comes to mind, they generally still require some sort of contractors license as if you were a plumber, electrical or general contractor.

Limits are generally very low and I have seen some as low as $50,000 which is laughable. Generally speaking you need $1 to $5 million to get on a commercial property. With inflation I am seeing more $2 million lower limits where 40 years ago $1 million would cover about anything.

Where a fire sprinkler company has the greatest liability is "completed operations" which covers damages if say a coupling blows apart in the middle of the night on the fifth floor of a hospital. Dollar amounts of liability here can be measured in millions per minute. I get nauseated just thinking about it.

There aren't that many players left in the market and many of those that are left are requiring someone with a NICET III or IV to be on staff just to be able to purchase the completed operations insurance.




RE: Typical Insurance requirements? A question for fire sprinkler contractors

Hi
I am new here and am trying to work out how to private message "SprinklerDesigner2" Sorry to post this here "off topic"
Thanks

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