Where Does Product Efficacy Fit Into A Fire & Security Combined Policy?
If an alarm or security device fails, there could be serious consequences, which undoubtedly come with legal repercussions on the contractor.
Efficacy Insurance which can form part of a combined business policy protects against costs – both in compensation damage and legal fees – for times when a product fails in its intended function.
For those fitting fire and security alarms, security grills, nurse alarms and CCTV, this cover can provide great reassurance, as just one allegation could easily sink a business if not initially, then in years to come due to a damaged reputation.
This essential cover can often be excluded from Public and Product Liability insurance when relating to fire and security protection products, either partially or completely, so that contractors can’t make a claim for a sound product which has been incorrectly fitted.
This is why Efficacy Insurance included as part of Fire & Security Combined policy arranged by Redwood is such a valuable addition.
Designed to cover contractors and tradesman who work with security and fire systems, including passive fire protection and security grills, Fire & Security Combined includes all the essential covers which make it relevant and practical, including Efficacy Insurance, Fidelity Bonding, Material Damage, Professional Indemnity, Financial Loss and other important features.
Speak to our team at Redwood Insurance to find out more. Call 01268 776277 or email firstname.lastname@example.org.
*Sources – https://www.blackfriarsgroup.com/what-is-efficacy-insurance/