FROM OUR PARTNERS

Best Plumbers Insurance of 2022

Bryan Keith

Whether you are an independent contractor or work with a team of plumbers, there is a high level of risk, and damaging a client’s property can turn into a lawsuit that could be costly. Protect your business with plumbing liability insurance. We’ve evaluated the best business insurance providers based on coverage, financial stability, customer satisfaction, and overall quality.

Covers a wide range of industries

$2,000,000

Coverage Up To

$1,000+

Deductibles

Overview

Coverwallet began its journey in New York City in 2015 operating under the Aon Insurance banner. At Coverwallet, you can access everything you need to keep your company well-protected at an unbeatable price.

What we like

  • A skilled advisor to assist you
  • Free quotes from multiple insurance carriers
  • Covers low risk to even some high risk industries
  • Online account management

What we don't

  • No brick-and-mortar offices
  • Deductible costs

Offers a range of insurance poilicies

$2,000,000

Coverage Up To

$0 - $2,000

Deductibles

Overview

Simply Business provides insurance policies for a range of professions and small businesses.

What we like

  • Various business insurance policies
  • Quotes from multiple providers
  • Fast and easy application
  • Strong customer satisfaction

What we don't

  • Policies are a through a third party
  • Claims must be filed through insurance provider

Customized solution to fit your business needs

$2,000,000

Coverage Up To

$0 - $10,000

Deductibles

Overview

With a 100-year history of insuring businesses, Hiscox is well-known across America and globally. With more than 500,000 small business customers, Hiscox is fully aware and trained in the unique risks a business can face.

What we like

  • Established insurance company
  • Dual auto insurance
  • Customizable insurance for over 180 industries
  • Deductibles starting at $0
  • Affordable rates

What we don't

  • Limited US offices
  • Coverage limited to $2 million online

Flexible coverage by the year, month, day, or by the job

$2,000,000

Coverage Up To

$0 - $10,000

Deductibles

Overview

Thimble provides business insurance that can be tailored to your business by the year, month, day, or even the job. At Thimble, the process to getting the right business insurance is simple, scalable, and flexible.

What we like

  • Scheduled coverage options
  • Coverage by the job available
  • Buy a policy online within minutes
  • No hidden fees
  • Affordable plans
  • Drone insurance

What we don't

  • Not available in New York

Affordable plans and coverage provided within minutes

$2,000,000

Coverage Up To

$0 - $2,000

Deductibles

Overview

Next Insurance leverages AI technology to streamline the process to purchase insurance, track claims, and manage policies at no additional cost.

What we like

  • Affordable insurance plans
  • Customized coverage to fit your business
  • Get covered within minutes
  • Near instant access to proof of insurance
  • Quick and easy to process claims

What we don't

  • Not available in New York

eCommerce-only insurance solution

$2,000,000

Coverage Up To

$0 - $5,000

Deductibles

Overview

Spott will ensure that your policy coverage is tailored to your business while complying with Amazon’s Terms and Conditions. They also track changes to Amazon’s Terms and Conditions to identify potential issues with listings before a suspension.

What we like

  • Tailored eCommerce insurance
  • Liability insurance for Amazon sellers
  • Store Suspension coverage
  • Compares leading insurance carriers
  • Flexible coverage options and payment plans
  • Knowledgeable about Amazon’s rules and policies

What we don't

  • Limited physical offices

What is plumbers insurance?

Plumbers insurance also referred to as plumbers liability insurance is not a high risk for injuries, but it could potentially cause a lot of property damage if a project didn’t go as planned. A good insurance policy covers any damages or injuries resulting from faulty work. Public liability insurance will also pay for compensation payments or legal costs if you’re found responsible for a mishap. Without insurance, you may find yourself out of business in no time. Getting the correct type of policy is essential for your business.

Who needs plumbers insurance?

Regardless of your experience, accidents and unforeseen events still happen and it is important for any plumbing business owner to protect themselves financially. You can be a residential or commercial plumber and have various risks. The following are (but not limited to) recommended to insure their business:

  • Master plumbers
  • Commercial plumbers
  • Service and repair plumbers
  • Residential plumbers
  • Sanitary plumbers
  • Water supply plumber

What insurance do plumbers need

If you run your own plumbing business, it is essential to cover your company and assets with plumbers insurance. Plumbing insurance is essential for many reasons. It protects the company from any claims made by third parties from accidents, your plumbing equipment, and materials. Depending on the policy it also protects your building from damages. Here are some common types of plumbers insurance:

General liability insurance

Liability insurance protects your business from injuries and damage to customers’ property. The first step in protecting your plumbing business is ensuring that your insurance policy covers any damages and claims related to the work you do.

  • Bodily injury: This component covers work-related injuries. Unless you have plumbers’ bodily injury insurance, you may be personally responsible for any client or other contractor injuries. The insurance will cover the costs of medical care andattorney’s fees if the customer sues you.
  • Property damage: This can be a serious issue for plumbers and is typically quite expensive. The average claim for this type of insurance is almost $30,000, which can catastrophic to the business. However, there are ways to minimize this risk by having property damage as a component of the general liability policy. Plumbers are often responsible for damage to their client’s property and the cost of repairs.
  • Personal injury: Plumbing companies are regulated by state law and must have personal injury insurance to protect themselves against lawsuits. It can also protect the company from advertising, products, or work claims lawsuits. Most insurance policies for plumbers will cover damages to rental premises

Commercial auto insurance

When it comes to commercial auto insurance for plumbers, you can find a wide range of options that suit your business needs. These policies are essential for plumbing contractors since they cover damages and losses caused by accidents involving their vehicles. Having liability coverage is important because it protects both the company vehicle and the other driver in a collision, even if you were not at fault. It also offers peace of mind while you are driving for work. Here are the different vehicle classes that can fall under the policy:

  • Light vehicles: Sedans, small trucks, vans, SUVs, and other smaller vehicles.
  • Heavy vehicles: Equipment trucks, dump trucks, etc.
  • Trailers: Utility trailers, container trailers, etc.

Errors and omissions insurance

Helps protect plumbers from liability if they make an error while working on a job. This type of insurance can help protect you if a customer sues you for damages. It can also help protect you if you are sued for malpractice. For example, if you accidentally sell the wrong plumbing fixture to a customer due to miscommunication, the policy will help protect you from the claim.

Commercial property insurance

Designed to protect businesses that do plumbing work and have a brick-and-mortar store. This type of coverage will depend on the size of the business, but typically you can expect to be covered for theft, breakage/vandalism, and liability if someone slips and falls in your retail store.

Workers’ compensation insurance

Pays out for medical expenses for accidents that cause workers to become ill or injured while working.

What are the limits of plumbers insurance?

The standard limit for plumbers insurance is $1M per occurrence and $2M in aggregate limit. The tier-up in limits for a policy is $2M per occurrence and $4M in aggregate limit.

How much does plumbers insurance cost?

Your premiums will vary based on multiple factors, including:

  • Deductibles: A higher deductible will usually lower policy cost than one with a lower deductible.
  • Limit per occurrence: You have many options for the coverage limits, and a higher limit will increase the policy’s overall cost.
  • Location(s): Your premium will be higher if your job site is in an area with statistically higher theft or natural disasters than other areas.
  • Number of employees: A higher number of workers means a greater risk of an accident and a higher insurance exposure.

Plumbers typically pay a premium ranging from $330-$600 annually.

How to choose the best plumbers insurance

It is vital to compare rates from different insurers and find one that is affordable for your business, and best meets your needs. Questions you should consider are to help with selecting the best policy for you could include:

  • How quickly does the insurance company respond?
  • What does the insurance policy cover?
  • Do they have a professional reputation?
  • What are the payment options?

You can come up with questions based on your specific needs and select the insurance company and plan that is right for you and your business.