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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.
Simply Business provides insurance policies for a range of professions and small businesses.
For more than 200 years, the Hartford Insurance helped over 1 million businesses just like yours.
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.
Next Insurance leverages AI technology to streamline the process to purchase insurance, track claims, and manage policies at no additional cost.
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.
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.
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.
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:
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:
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.
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:
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.
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.
Pays out for medical expenses for accidents that cause workers to become ill or injured while working.
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.
Your premiums will vary based on multiple factors, including:
Plumbers typically pay a premium ranging from $330-$600 annually.
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:
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.
