Restoration Insurance Tips: What is Pollution Insurance?

October 2, 2018

 

 

For any restoration contractor pollution insurance is a big deal.   Most general liability insurance policies exclude any type of pollution-related insurance claims for so the only way they can get the coverage is through a pollution insurance policy.

 

Pollution claims can stem from mold issues, soil contamination, chemical spills, pipeline ruptures, and even fuel leakage.   Pollution claims are a unique challenge because, while some pollution incidents may be immediately apparent, most occur slowly and undiscovered for a long period of time.   For restoration contractors, one uncovered pollution claim could potentially cost the company hundreds of thousands, if not millions of dollars.

 

Pollution Insurance

Pollution insurance provides coverage for pollution related claims to which a restoration contractor is negligent.  It can include coverage for operations that are performed by or even on behalf of the insured.  A standard policy usually provides the coverage for operations away from the insured's premises.  Some policies will provide coverage for temporary storage of contaminants on your property, coverage for the unloading and loading of vehicles at jobsites, and eve over the road pollution coverage.

 

What Pollution Insurance Policy is Right for Me?

Every pollution insurance policy is different.   Every carrier has its own unique coverage inclusions and exclusions so it's important you work with an expert that can show the positive and negative aspects of multiple quotes.   A pollution insurance policy that works for one restoration contractor may not work at all for another.

 

How Much Does a Pollution Insurance Policy Cost?

 

Pollution insurance premiums vary wildly for restoration contractors as they are based heavily upon the type of operations the company performs.   If you are interested in receiving an pollution insurance quote for your business, please feel free to contact our office.

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