Safety and Success in the Elevator Industry

Tower Street Insurance Loss Control OSHA Safe and Sound Week

Industry Dynamics

In the dynamic world of elevator and escalator contracting, where precision meets innovation, safety and functionality are paramount. With approximately 900,000 elevators in the United States alone, these vertical transportation marvels have become integral to urban landscapes. In such a dynamic industry, ensuring the safety and reliability of these systems through insurance is essential.

The elevator and escalator industry, with its constant pursuit of safety and efficiency, is crucial for urban mobility. Despite being considered one of the safest modes of transportation, unexpected incidents can occur, underscoring the importance of insurance in business operations. With an average of 18 billion passenger trips annually in the U.S. alone, the need for comprehensive coverage is evident.

Insurance Insights

Insuring the elevator industry involves addressing unique risks related to machinery, passenger safety, and property damage. Insurance providers play a crucial role in helping businesses mitigate potential liabilities by focusing on preventative measures. Statistics reveal that a majority of elevator-related accidents are preventable, emphasizing the significance of robust safety protocols.

In the past year, Tower Street has partnered with elevator and escalator contractors to achieve remarkable outcomes, reducing costs and enhancing protection. Clients have seen a significant $45,000 reduction in general liability premiums, as well as strategic upgrades to umbrella policies for another. Our team works diligently to optimize coverage and deliver cost-effective solutions, ensuring that businesses can thrive with confidence.

Tower Street Insurance Loss Control OSHA Safe and Sound Week Safety and Health

Streamlining Coverage for Simplified Management

Our commitment extends to streamlining coverage, as demonstrated by a client who achieved an $8,000 reduction in general liability premiums. Through the consolidation of professional policies into a single $2 million policy, we simplify insurance management, ensuring cohesive coverage for our clients.

As we step into the new year, consider elevating your insurance strategy with Tower Street. Our wealth of experience and expertise in the nuances of the elevator industry make us a trusted partner for businesses seeking insurance excellence.

Tower Street Insurance Connects You with the Best Insurance Program for Your Specific Needs

Our agents here at Tower Street Insurance can assess your current coverage for all of your loss control, personal insurance, and business insurance needs.

We would love to set up a meeting to go over your coverage with you and provide you with a coverage gap analysis completely free of charge! Reach out to us today to schedule a meeting and get a quote today.