International Door & Operator Industry

JAN-FEB 2019

Garage door industry magazine for garage door dealers, garage door manufacturers, garage door distributors, garage door installers, loading docks, garage door operators and openers, gates, and tools for the door industry.

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Page 74 of 126

By Andrew Stergiou "But I did everything I was supposed to do!" With these words, Steve realized he had unwittingly made a costly mistake. As the owner of a large residential garage installation business, Steve understood that on-the- job mistakes could happen and he planned accordingly. He purchased a costly liability insurance policy. Sure enough, fate would strike when a door inflicted extensive damage to a customer's car during an installation. "Not a problem," he thought. "This is why we have insurance." What Steve didn't realize was that his policy had a gaping hole, which eluded him when purchased: the policy had a residential exclusion. Unfortunately, this story is a common occurrence in the garage door industry. Many installers purchase general Continued on page 74 liability insurance programs, unaware it excludes them from working on residential buildings such as apartments, condos and single-family homes. Why do these exclusions exist? Here are some of the cold, hard facts: • Many insurers have inserted residential exclusions into general liability policies to protect themselves from construction defect claims on residential projects. • Although this omission has nationwide implications, residential exclusions have been particularly harsh on companies in California, Arizona, Texas, Florida and Colorado, where construction defect claims are common. ASSOCIATIONNEWS 72 International Door & Operator Industry™ Hidden Exclusions: Residential Work Hidden Exclusions: Residential Work

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