The Boiler, Hot Water Heating, and Steam Fitting C-4 classification can be one of the most high-risk contractors in the marketplace. According to the CSLB, a boiler, hot-water heating and steam fitting contractor installs, services and repairs power boiler installations, hot-water heating systems and steam fitting, including firetube and water-tube steel power boilers and hot-water heating low pressure boilers, steam fitting and piping, fittings, valves, gauges, pumps, radiators, convectors, fuel oil tanks, fuel oil lines, chimneys, flues, heat insulation and all other equipment, including solar heating equipment, associated with these systems.
Certainly, these contractors have a high-risk exposure for third-party bodily injury and property damage claims, but also a considerable risk for work-related injuries to employees. Fairbanks Insurance Brokers has designed a package of coverages to provide financial protection in the event your business is held responsible during a lawsuit.
Here is What We Recommend:
General Liability: Every contractor should consider the General Liability policy as the basis for their insurance package. Not only does it provide coverage for third-party bodily injury and property damage claims, the policy also covers defense costs resulting from an action being brought against you.
Workers’ Compensation: The California Licensing Board will not grant your business a license to do business in the state unless you provide proof of workers’ compensation coverage. This policy will pay medical expenses and lost wages if an employee is injured on the job, and protect your business from employees suing for medical damages.
Surety Bonds: According to California’s Business and Professions Code Section 7071.6, a Contractor’s Bond must be in place before CSLB can issue an active license, reactivate an inactive license, or renew an active license. The bond is filed for the benefit of consumers who may be damaged as a result of defective construction or other license law violations, and for the benefit of employees who have not been paid wages that are due to them. The only alternative is for the contractor to put up cash or a guaranteed line of credit.
Commercial Auto: Typically, all C-4 contractors will use light and heavy vehicles in the course of doing business. These vehicles should be insured under a commercial auto policy so that your business can opt for higher liability limits to financially protect your business in the event of an accident. This policy also provides coverage if your vehicles are damaged in an accident or stolen for your office or job site.
Tools & Equipment Coverage: Boiler, Hot Water Heating, and Steam Fitting Contractors are required to use expensive special tools and equipment on the job. Having to replace damaged or stolen tools could create a significant loss for the contractor. With the Fairbanks Insurance tools and equipment program, your business would have financial protection in the event your business is forced to by replacement tools for your business.