Don't leave everything to chance; keep yourself protected with an insurance
Plumbing insurance gives protection against a wide variety of risks routinely faced by plumbers and plumbing contractors. Adequate protection is essential since one small mistake or accident could result in damages that drain a small business’s finances beyond recovery.
Plumbers insurance is tailored to be made up of a bundle of policies that offer the best protection against common risks that plumbers face in their day-to-day work, like accidentally damaging a customer’s property.
All contractors benefit from having insurance, and plumbing contractors may benefit the most. As a plumber, you are often called to work on older systems that are delicate but in need of repair. A mistake in your work can cause tens of thousands of dollars in damages. To protect your business and your livelihood, it makes sense to have plumbing contractor insurance. General liability insurance can protect your business from mistakes you make; otherwise, those costs might have to come out of your own pocket.
When plumbing contractors get an insurance package, there a few options for coverage that are usually recommended. These ensure that your business is as protected as possible. You might notice:
While these are the most common insurance policies in the plumbing business, there are other coverages that plumbing contractors might find helpful. Lost wages coverage may be helpful in making up for lost revenue after a major loss causes a temporary stop in your business operations.
General Liability Coverage
While repairing a client’s shower, your employee accidentally damages the shower wall. You will have to pay for the damages.
Your general liability policy would cover the cost of repairs for the damages done by your employee.
Commercial Property Insurance Coverage
A fire breaks out in your office complex and spreads to your storage area, destroying much of your equipment and tools.
Your commercial property insurance would help you cover the loss
Commercial Auto Coverage
If any of your company vehicles are involved in an accident, you have to pay for third-party bodily injury, property damage, or pollution cleanup.
Commercial Auto policy would cover any expense for the medical care of the other driver and repair his property
Worker’s Compensation Coverage
While cutting some piping, your employee severely cuts her own hand accidentally. She needs medical care and cannot work until she recovers.
Workers’ compensation would pay for her medical bills and a portion of lost income while she recovers and is unable to work.
Inland Marine Insurance Coverage
Your team has been hired to re-pipe a customer’s home. Because the job will take several days, you leave some of your equipment and tools on the job site. Over the weekend, the customer’s home is burglarized, and your equipment is stolen.
Inland marine insurance covers the equipment your plumbers take with them to perform their work.
Plumbers face risks on the job every day – from fixing hot water heaters to working in confined spaces. With the right business insurance coverages, you can have peace of mind knowing you and your employees are covered as you work.
Contact us to keep your plumbing business covered with the right coverages
It might be time to switch insurers whenever the service that your existing insurer provides doesn’t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options
If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.
Contact us today to help you with multiple options to choose from.
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