You can get an alarm so if the pump fails, you are notified and address it before any significant flooding occurs. 

Whether homes, offices or whatever these are structures occupied by human beings.Please please make sure you have smoke alarms and carbon monoxide alarms.

The thing that I recently learned is a gas furnace will emit fumes when starting and can set off the alarm.

If a thief breaks into your car and steals from you, do you have responsibility because you left your door unlocked?

I won't say that guy is a thief, but if you use him you'll be robbed.One of the hardest parts of starting out as a RE investor is finding contractors who do good work for a fair price. 

There will also be cost-cutting efforts through reduction of water usage and connecting to central fire alarms.

Actual Cash Value or deprectiated value) will impact the rates- Deductible:  Most companies give credits for higher deductibles so that could impact rates- Limit of Liability- Fire protection (alarms, sprinklers, extinguishers, etc.) can lead to credits- the owners credit history can result in credits in some companies- Claims history of the property or the owner will impact the rates.I suggest you look at Independent agents representing multiple companies. 

@Maria Luna  The very best of luck, be VERY careful where you purchase and make sure you put alarms on each prop after you have the materiel delivered .  

I give my tenants a week or so notice, and I bring a bunch of 9v batteries to replace the ones in the fire alarms. 

Do you have a water, smoke or carbon monoxide alarm system?