Who needs Building Access Control Insurance?
Any business involoved in the design, sale, instalment and / or maintenance and montitoring of building access control equipment should consider getting a specialist building access control insurance policy. No matter how skilled you and your team are, things can go wrong. A well thought out insurance policy should provide your business with adequate protection without providing business cover you simply dont need.
What cover is included on a building access control insurance policy?
The policy can be designed around your particular businesses requirements. It may be that you only need cover that relates directly to your business activity – the design, installation, maintenance and monitoring of building access control equipment. This being the case, it’s likely that there are a number of specific covers that will be relevant to you:
Building access control equipment installers public liability insurance
By the very nature of your business, you will be working on site at clients’ premises. If something went wrong – you or one of your team drops a tool or piece of equipment while working up a ladder and it hits someone – you could find yourself facing a claim. Public liability insurance can protect you from costs in a situation where a member of the public alleges that they have suffered a loss, injury or illness as a consequence of your work. Public liability insurance pays out for the costs you incur mounting your legal defense as well as paying any compensation that is ultimately deemed to be due.
Building access control equipment employers liability insurance
If you have anyone working for you in the business, you must have employers’ liability insurance in place. The employee needn’t be a full timer on PAYE – you must have cover in place to cover just part time staff and casual workers, as well as any self employed contractors who work under your direction. Employers liability insurance can protect you from the legal and compensation pay outs that arise as the result of aclaim made against the business by an employee that they have suffered a loss, illness or injury as a result of their work with you.
Professional indemnity insurance for building access control installers
You may take on responsibility for designing the access control systems and layout on behalf of a client, offering your professional advice on what equipment should be used, where and how. Should the client subsequently claim that your advice was in some way deficient and led to a loss, you could face significant legal and compensation costs. Professional indemnity insurance for building access control installers would cover you in this situation.
Product liability insurance for building access control installers
If you retail / supply the equipment that you install, and that equipment is deemed to be defective or unfit for purpose in some way, you could face a compensation claim from the affected customer. If you had supplied the same defective product to a number of clients on different jobs, the costs of remedying the situation could be significant. Product liability insurance could protect your business from these costs.