WHY DOES MY BUSINESS NEED AN INSURANCE INSPECTION
An insurance inspection can help you save money on your business insurance and minimize exposure to injury in the workplace. Less exposure to work place hazards translates to fair premiums. As a matter of routine risk mitigation, some insurance companies will order an inspection annually. Other insurance companies order insurance inspections randomly. The exception to these rules is that your business has loss claim activity that is specifically flagged for an insurance inspection. For example, if you are required to have a fire sprinkler system installed for insurance purposes within a certain period of time, the insurance company wants to ensure that it has been installed and is functioning. If your business has a certain type of equipment with great risk potential an inspection will be ordered on very short notice. Remember, an insurance inspection of your business is not a “gotcha” process and is not designed to arbitrarily raise premiums. If an inspector finds something that requires repair, you'll be given the opportunity to do so before your premium is adjusted.
WHAT WILL THE INSPECTOR LOOK FOR
Insurance inspectors have the trained eye and the knowledge of a construction contractor and are familiar with all components of a building. The inspector will examine the property for potential hazards associated with the roof, the heating system, the plumbing system, the fire suppression system, the electrical system, etc. Areas or processes in place that are identified as hazardous will be listed in a report you will receive from the insurance company.
Apartment buildings should have fire extinguishers, smoke/carbon monoxide detectors, emergency lights, electric exit signs and sufficient means of egress.
Merchants should ensure their refrigerated aisles are cooling properly, walk in refrigerators have condenser motors that are not cluttered, employees are walking in pairs when making bank deposits and certainly not going to the bank at the same time each day, and aisles are kept free of obstructions that may create a trip fall hazard.
For manufacturing operations, ensure guards are on machines and haven't been removed to make production faster. Aisles should be sized in order to accommodate transportation equipment and marked in accordance with OSHA directives.
REPAIR EXPPOSURE TO HAZARD
In short, the insurance inspection will identify areas which may be hazardous to your employees, clients and property. While you may not be happy with the outcome of the inspection, it will give you the opportunity to avoid a situation where increased premiums will be the least of your financial problems.
An insurance inspection can help you save money on your business insurance and minimize exposure to injury in the workplace. Less exposure to work place hazards translates to fair premiums. As a matter of routine risk mitigation, some insurance companies will order an inspection annually. Other insurance companies order insurance inspections randomly. The exception to these rules is that your business has loss claim activity that is specifically flagged for an insurance inspection. For example, if you are required to have a fire sprinkler system installed for insurance purposes within a certain period of time, the insurance company wants to ensure that it has been installed and is functioning. If your business has a certain type of equipment with great risk potential an inspection will be ordered on very short notice. Remember, an insurance inspection of your business is not a “gotcha” process and is not designed to arbitrarily raise premiums. If an inspector finds something that requires repair, you'll be given the opportunity to do so before your premium is adjusted.
WHAT WILL THE INSPECTOR LOOK FOR
Insurance inspectors have the trained eye and the knowledge of a construction contractor and are familiar with all components of a building. The inspector will examine the property for potential hazards associated with the roof, the heating system, the plumbing system, the fire suppression system, the electrical system, etc. Areas or processes in place that are identified as hazardous will be listed in a report you will receive from the insurance company.
Apartment buildings should have fire extinguishers, smoke/carbon monoxide detectors, emergency lights, electric exit signs and sufficient means of egress.
Merchants should ensure their refrigerated aisles are cooling properly, walk in refrigerators have condenser motors that are not cluttered, employees are walking in pairs when making bank deposits and certainly not going to the bank at the same time each day, and aisles are kept free of obstructions that may create a trip fall hazard.
For manufacturing operations, ensure guards are on machines and haven't been removed to make production faster. Aisles should be sized in order to accommodate transportation equipment and marked in accordance with OSHA directives.
REPAIR EXPPOSURE TO HAZARD
In short, the insurance inspection will identify areas which may be hazardous to your employees, clients and property. While you may not be happy with the outcome of the inspection, it will give you the opportunity to avoid a situation where increased premiums will be the least of your financial problems.