Water Utilities Insurance
Who Uses Bancorp Insurance’s Water Utilities Insurance?
Bancorp Insurance has developed a long relationship with privately owned or board managed water utilities over the last 35 years. We pride ourselves in providing the specific insurance that small water utilities require in Oregon, Washington, Montana and Idaho. We understand the industry and their unique needs and have verified carriers that provide superior coverage for their property and liability issues.
The small water utilities typically have tight budgets, therefore protecting themselves against a costly lawsuit is vital.
Since drinking water and waste disposal are two cornerstones of a well-run society, claims against water service companies can be among the most horrific and life disrupting. Pollution and failure-to-supply claims can destroy the core financial reserves of a firm performing these vital services.
Bancorp Insurance will provide you with an all-encompassing package free of coverage gaps. Our private water utilities insurance program is crafted specifically for private water and sewer districts. It provides the most comprehensive protection, at a fair price! In fact, Bancorp Insurance is proud to be the lead insurer for private water district insurance in Oregon.
What’s Covered with Bancorp Water Utilities Insurance?
- Pollution Protection
- Failure to Supply Coverage
- Equipment Coverage for pumps, gauges, and electronic boards.
- Loss of Income
- Water Testing Professional Liability
- Employment Practices which protect you from hiring, firing, promotion issues, discrimination, etc. including wrongful acts of boards.
- Crime and vandalism protection
- No Policy Audits
- Defense Outside of the policy limits: This policy will cover you for legal expenses outside of the policy limit, protecting you from having to pay the judgment out of pocket
- Third Party Loss of Business Revenue
How is Bancorp’s Water Utilities Insurance Different?
- No Audits! No nasty after the fact insurance bills just because your revenues increase, you will not owe your insurance company more money at the end of the policy period.
- No Extra Charge for sudden & accidental Pollution Coverage! You need this protection; water suppliers are sued for thousands of dollars just because bacteria found its way into the system. Pollution is included you do not have to buy a separate expensive policy.
- No Extra Charge for Failure to Supply Coverage! Opps a hydrant is defective and a home burn down. Happens all the time, you will be sued. WaterPro is one of the few policies that include this important protection for water companies.
- Equipment Coverage for pumps, gauges, and electronic boards, this equipment can run into the hundreds of thousands of dollars to replace. Most suppliers don’t even buy covers for this equipment, but just ask your electrician how much it will costs to replace it due to loss because of power surges or electrical arching.
- Quick Claim payment! Unheard of claims service WaterPro’s current clients report receiving claim checks fast.
- Our policies is loaded with add-ons extras’ that normally cost you an additional premium! Automatic coverage for:
- Communication equipment
- Loss of Income
- Valuable Papers & Records
- $100,000 Theft and Fidelity
- $100,000 Computer Fraud
- Flood and earthquake coverage available in most areas.
- Employment Practice Liability Coverage: protects you from hiring, firing, promotion issues, discrimination etc. including Wrongful Acts of Boards (board policy decisions error and omissions). In today’s world, this is a must-have option for every employer. More employers are being sued for employment practices mistakes than ever before.
- Defense outside of the policy limits. Often times when a supplier is sued, the entire policy limit is eaten up with legal fees. Forget the judgments! This policy will cover you for legal expenses outside of the policy limit, protecting you from having to pay the judgment out of pocket.
- Bancorp’s water utilities carrier is “A” rated and financially secure top companies in the world.
Don’t be caught off guard. Our team can review your current needs and policy, we will warn you of any gaps you may currently have and suggest innovative ways to eliminate them. All of our coverage options will be presented to you for review.
Complete the form above, to request a quote. Or, you can give us a call at 800-452-6826.
Get at Quote for your Water Utilities
We’ll put together a customized quote built to protect your unique business needs. Let’s build something together.
Case Study: E. COLI in the Water!
The city of Portland found E. coli in its water supply in 2014. The city acted appropriately and sent boil notices to their 670,000 customers. Cleaning up the water supply and sending out the boil notices was the easy part. Now they get to deal with the unforeseen consequences. In fact, most water districts never even think beyond what happens after an E-coli contamination.
Remember people in the Portland area were not able to use their tap water for 3 or 4 days. What did that really mean? Hundreds and even thousands of businesses closed their doors because without clean water they cannot run their businesses. Restaurants and bars cannot wash vegetables in E-coli water or serve anything with ice or water in it. If a local brewery used the E-coli water to make a fresh batch of beer the entire batch had to be pitched down the drain. Hairdressers, spas and even public pools closed their doors, no business can take a chance of the E-coli entering their businesses and sickening customers. Thousands of dollars of business income were lost because of the boil notice.
What about your water district, does your insurance cover you in case your district is sued for a 3rd party loss of business revenue due to a contamination of the water supply?
Good question one you should take the time to get an answer to. If you do not have a specialty insurance policy that is specifically written to cover the types of exposures that small water districts face you may not have this type of coverage. Water Pros water district insurance coverage provides coverage to your district to pay out 3rd party claims due to water contamination.
I know many of the smaller districts do not have large restaurants that they supply water to. But you could have a home brewer, hair stylist, or spa owner. You never know what type of small business is being run out of someone’s home. If a small home brewer is forced to dump two dozen kegs of beer down the drain he’s lost thousands of dollars in revenue and he’d going to look for ways to get reimbursed from the cause (contaminated water). Who will answer a mother’s rage when her children become ill from swimming in the local pool filled with E. coli water?
These types of claims happen every day. Want to make sure your water district has the coverage it needs? Contact us today and ask about Bancorp’s private water utilities insurance.
NEED MORE HELP?
Appointments are available at no charge or obligation to enroll, click the link below to request a virtual, in-person or telephone appointment or give us a call at (800) 452-6826.