Sauna Installation Business Insurance
Every sauna installation business needs insurance. Knowing which type of insurance you need and the best place to get it is the next step.
This article will cover the main types of business insurance and help you find the best sauna installation business insurance.
Recommended: Next Insurance is dedicated to matching small businesses with the right policy at the best price.
Best Insurance for a Sauna Installation Business
The most common and comprehensive type of sauna installation business insurance is general liability insurance. We recommend general liability insurance as your first line of defense against a variety of the most general and commonly occurring claims.
Some of the risks general liability insurance covers are:
- Bodily injury
- Property damage
- Medical payments
- Legal defense and judgment
- Personal and advertising injury
While a sauna installation business isn’t legally required to carry general liability insurance, operating without it is extremely risky. If your sauna installation business is sued, you could face fees totaling hundreds of thousands of dollars (or more).
Find the Right Policy at the Best Rate
Using a fully online insurance provider saves time and money and offers the most accurate quotes.
Cost of General Liability Insurance
On average, sauna installation businesses in America spend between $500 - $1,500 per year for $1 million in general liability coverage.
Compare the average cost of general liability insurance for a sauna installation business to other professional industries using the graph below:
Several factors will determine the price of your policy. These include your:
- Location
- Deductible
- Number of employees
- Per-occurrence limit
- General aggregate limit
You may be able to acquire general liability insurance at a discounted rate by purchasing it as part of a business owner’s policy (BOP) rather than as a standalone policy.
A BOP is a more comprehensive solution that includes multiple forms of coverage, such as business interruption and property insurance.
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Finding the most affordable premium starts with getting accurate quotes from highly rated providers.
Common Situations That General Liability Insurance May Cover for a Sauna Installation Business
Example 1: Your employee is bringing some tools into a client's yard for an installation job when he runs into the client. He knocks her to the ground and she breaks her arm. She decides to sue your company for damages. Your general liability insurance policy will pay for your legal defense costs, including hiring a lawyer.
Example 2: A competing sauna installation business has sued your company for libel. You do not believe that there is any validity to their accusations, but you also understand that you need an attorney to protect your interests. The general liability insurance policy you have will cover legal defense costs against libel accusations.
Example 3: A client is visiting your place of business to discuss sauna installation options. On his way into the restroom, he slips on wet tiling and breaks his tailbone. He asks that you pay for his medical treatment. Your general liability insurance policy will likely pay for the treatment if you file a claim.
Check out our review of the Best Small Business Insurance Companies.
Other Types of Coverage Sauna Installation Businesses Need
While general liability is the most important type of insurance to have, there are several other forms of coverage you should be aware of. Below are some other types of insurance all sauna installation businesses should obtain:
Professional Liability Insurance
You are serious about your installation work and strive to do a good job every time. However, even with your best effort, there is still a chance that a client could sue you for a mistake you made—or they think you made. Professional liability insurance will pay for your legal defense costs in such a situation. It will pay for your attorney and for a settlement if you need to settle the lawsuit.
Workers’ Compensation Insurance
You need your employees in good health to help you install saunas for your clients. If they get injured, you want to know that they can get the medical care they need for a fast recovery. Workers’ compensation insurance will pay for the treatment of work-related injuries. It will also help cover lost wages for employees who cannot work while injured. Your state likely requires you to have workers’ comp coverage if you have employees.
Commercial Auto Insurance
You should cover the vehicle you use for your installation work with a commercial auto policy. Your policy will pay for repairs or replacement of your vehicle if you are in an accident. It will also pay for medical treatment for the occupants of the vehicle who get injured. If you or your employees are responsible for the accident, the policy will also pay for repairs for the other vehicle and medical care for its occupants.
Commercial Umbrella Insurance
You have a general liability insurance policy to protect your business from most general liabilities. You can also get an umbrella policy to add another layer of protection. If you exceed the limits of your general liability insurance policy—like if you lose a big lawsuit—the umbrella policy will kick in and start paying the remaining damages.
Additional Steps To Protect Your Business
Although it’s easy (and essential) to invest in business insurance, it shouldn’t be your only defense.
Here are several things you can do to better protect your sauna installation business:
- Use legally robust contracts and other business documents. (We offer free templates for some of the most common legal forms.)
- Set up an LLC or corporation to protect your personal assets. (Visit our step-by-step guides to learn how to form an LLC or corporation in your state.)
- Stay up to date with business licensing.
- Maintain your corporate veil.
Business Insurance Is the Best Way to Protect Your Business
If you're starting a new business, then you need business insurance. It's as simple as that. The protection offered by an LLC will protect your personal assets, but your business's assets are still open to liability in the case of a lawsuit or other loss.
Be sure that everything you've built is safe by getting business insurance.
Sauna Installation Business Insurance FAQ
Can I buy business insurance online for my sauna installation business?
Yes, absolutely. You will need to first get a quote from an online business insurance provider like Next Insurance. Next allows you to then purchase a policy immediately and your coverage will be active within 48 hours.
What is included in a business owner’s policy?
A typical business owner’s policy includes general liability, business interruption, and commercial property insurance. However, BOPs are often customizable, so your agent may recommend adding professional liability, commercial auto, or other types of coverage to your package depending on your company’s needs.
What is the difference between business insurance and general liability insurance?
"Business insurance" is a generic term used to describe many different types of coverage a business may need. General liability insurance, on the other hand, is a specific type of coverage that business owners need to protect their assets.
Do I need insurance before I start a sauna installation business?
You should invest in business insurance coverage for your business before your first interaction with a customer. Although the cost of insurance may seem high for a brand new business, it’s best to be proactive when it comes to protecting your assets. After all, you can’t buy insurance to cover a loss that has already occurred.
Will insurance protect my sauna installation business from everything?
Not necessarily. Certain exceptions may be written directly into your sauna installation business insurance policy, and some perils may be entirely uninsurable.
Is general liability the same as business owners?
A general liability insurance policy covers only liability losses. A business owner's policy covers both liability and property losses.
How do I choose the best general liability insurance?
The best general liability coverage for your business really depends on the amount of coverage you’re comfortable with and how often you expect to file a claim. A relatively safe business with a very low risk of accident or legal liability could opt for lower premiums with higher deductibles.
However, if you are in an accident or injury-prone industry or are making advertising claims about the effectiveness of your service or product, you may wish to consider more extensive coverage. We recommend using a digital insurance provider like Next Insurance.
Do I need business insurance if I already have an LLC?
Yes, an LLC is meant to create a legal barrier between your business and your personal assets and credit. If you haven’t formed an LLC yet, use our Form an LLC guide to get started.
An LLC doesn’t protect your business assets from lawsuits and liability– that’s where business insurance comes in. Business insurance helps protect your business from liability and risk.