A plumbers job involves repairing, installing, and fixing water pipes by connecting them to water mains. Plumbers specialize in either working for the public through simple home repairs or from new construction sites installing water pipes. Your plumbing business faces many risks that can be financially damaging. A plumbers insurance protects your business and your staff against lawsuits and claims.
Cost of Plumber Insurance
The cost of a general liability insurance for a small plumbing business depends on the location, size of business, experience, payroll and claims history.
Types of Insurance for a Plumber
Business Owner’s Policy
BOP offers three insurance coverage in one policy plan. It is the best basic insurance that you can have for your business. It includes
General Liability Insurance
It provides protection to you business against claims that involve damages and injuries caused by you or your employees in the course of offering plumbing services.
Commercial Property Insurance
The policy covers damages to your business property and your plumbing equipment. It is regardless of whether you rent or own the property.
The insurance covers your lost income if for any reason you are unable to run your business. It helps you to stay afloat as repairs are going on.
Other Plumbing Policies to consider include
Commercial Auto Insurance
If your business requires you to drive to your clients homes for plumbing services, the policy offers protection to you and your employees while driving. It covers damages caused by a vehicle accident. The difference from personal auto, is that with personal auto policy it does not cover any damages if your vehicle was being used on a business capacity.
This coverage is mandatory in most states even if you have one employee. It covers your workers if they are involved in a work-related injury. It pays the medical bills for the affected staff and lost wages during the time of treatment.
Also called Umbrella insurance, it offers extra protection beyond your coverage.
Contractor Equipment Insurance
Your business can be greatly affected if a piece of equipment gets damaged, lost or vandalized. The coverage is for your equipment should it need repair or replacing.
As a plumber to know the best coverage for your plumbing business consult a professional insurance agent to know the options available and get the policies that offer the best protection for your business.