Insurance for Your Home Improvement Business From the Lambert Agency

As a business owner in the home improvement industry, you make it possible for your customers to update and protect what’s typically their greatest investment: their home. And in this challenging economy, many homeowners are opting to repair and revamp their residences rather than move or buy new.

Whether you sell home furnishings, kitchen accessories, paint, lamps, plumbing fixtures or other home improvement supplies, you help people enhance their homes with increased function, style and comfort.

You need to be comfortable, too, when selecting and purchasing business insurance to protect your livelihood. The Lambert Agency offers business insurance policies specially created for the home improvement industry, and our insurance advisors are trained to understand the many challenges and risks you face.

Q. What specific kinds of insurance do home improvement businesses usually need?

A. It varies from company to company, but most home improvement businesses require:

• General Liability – This provides coverage in the event a customer would get hurt on your premises or the product you sell causes an injury.
• Business Property Coverage – If a fire destroys your store, we can help repair or replace the building as well as your inventory and other contents.
• Business Income Coverage – Covers you in the event a storm or other occurrence damages your building and you are forced to close, losing income.
• Automobile Liability – Provides coverage if an employee drives your car or company vehicle while on company business.
• Hired and Non-Owned Automobile Liability – Covers you if an employee drives their vehicle on company business or if the business rents a vehicle.
• Workers Compensation – Protects you against employee job-related injury claims.
• Utility Services Coverage – If, for example, a windstorm damages the local power company’s electric transformer causing you to be without power, we can pay for the damages to your building and contents as well as loss of income.

Q. What type of coverage is often overlooked in my industry?

A. Accounts Receivable Insurance – Provides coverage in the event your accounts receivable records are damaged or destroyed.

Crime Insurance – Protects you in the event your business is robbed and cash and checks are stolen.

Flood Insurance – The Lambert Agency doesn’t offer flood insurance, but your agent can connect you to the National Flood Insurance Program, the government-sponsored insurance that offers up to $500,000 in coverage.

Ordinance or Law – This insurance can protect you if you need to tear down your building and rebuild it to local code standards after a loss.

Q. I’ve invested a lot in my brand and my signage. Can I get insurance to cover my company’s signs?

A. If your sign is an important part of your visibility, we can cover it – from damage caused by vandalism, theft, lightning, car accidents and more.

Q. What is umbrella insurance?

A. It’s a way to add higher limits to your existing insurance. For example, if your current liability policy covers a $1 million lawsuit and you are successfully sued for $2 million, umbrella insurance can cover the difference. Best of all, we can provide this excess liability coverage over your business vehicles as well as your business liability.

Q. If I have more than one location, do I need several policies?

A. No. The Lambert Agency covers all of your locations with one policy, saving you money and paperwork. Better yet, your liability limits apply separately at each of your locations.