What is Elevator Contractors’ General Liability?

The importance of general liability insurance for elevator contractors cannot be overstated, as it provides protection against claims that may result from accidents or damage at the job site or on their premises.

Why do I need it?

Business Protection – Elevator contractor liability insurance aims to minimize business owners’ vulnerability to potential legal claims resulting from the following factors:

• Accident-Related Liability
• Contract-Related Liability
• Product-Related Liability
• Employee-Related Liability

Company Compliance – As mandated by various state agencies and project owners, presenting elevator business liability insurance is typically required for contractors before they can begin work activities.

Marketing Benefits – Contractors can gain a competitive advantage in the bidding process by providing evidence of elevator installers’ business liability insurance, demonstrating their dedication to operational and product accountability to potential clients.

Property Landlords – As a prerequisite for securing a lease, commercial management firms commonly require businesses to furnish proof of adequate general liability coverage for elevator service contractors.

What does it Cover?

Elevator contractor liability insurance provides financial protection against unforeseen expenses arising from common incidents such as:

Bodily Injury – Claims of bodily injury by non-policyholder individuals.
Property Damage – Claims of property damage by non-policyholder individuals.
Products-Completed Operations – Claims for off-premises products or services rendered by the policyholder.
Personal-Advertising Injury – Claims for the infringement of third-party rights or defamation of their reputation.
Medical Payments – Claims for bodily injury suffered by third parties due to the policyholder’s operations or premises.

What is a Certificate of Insurance?

Evidence of liability insurance for elevator contractors is presented in the form of a certificate of insurance (COI), which specifies coverage details and limits.

What is an Additional Insured?

An additional insured (AI) endorsement is a standard provision in elevator contractors’ business insurance policies, extending coverage to individuals or organizations other than the policyholder.

How much is it?

Elevator contractors’ general liability quotes are determined by factors such as work type, claims history, coverage location, and their previous or current insurance policies.

Drawing on our team’s deep industry knowledge, we will meticulously search reputable insurance providers to find the best coverage for your business, carefully considering your budget.

What are my Payment Options?

We understand the importance of flexibility, which is why we offer various payment options when purchasing a commercial liability policy for elevator contractors.

Full Payment Option – Pay the premium with one payment.
Direct Bill Option – Pay the monthly premium to the carrier directly.
Financing Option – Pay the monthly premium through a finance company.

What Makes Fairbanks Insurance the Preferred Choice?

Whether you prioritize budget-friendly options or personalized protection, our team is committed to offering comprehensive insurance solutions that meet your specific needs.