Insurance for Plumbers & Plumbing Contractors
Choosing to start a plumbing business was a wise move. Everyone needs help with their plumbing sooner or later. Whether you provide services to residential customers or you are a contractor who works on commercial buildings or on construction sites, your business is hectic. Don’t put your business at risk of bankruptcy when natural disasters strike or accidents happen. Protect yourself with commercial business insurance that is tailored to meet your growing company’s needs.
General Liability For Plumbers
General liability is a comprehensive commercial insurance coverage that protects you from several types of unexpected events. It saves you from having to deal with legal liability if a customer is hurt while on your business premises. It also protects you from having to cover the costs if a customer’s property is damaged while at your place of business. General liability can protect you from litigation that might arise due to faulty products and mistakes in advertising too. General liability expands to cover new business locations, services and products automatically as you grow, and it is included in a Business Owner's Policy (BOP).
Business Owners Policy For Plumbing Contractors
A business owners insurance policy helps protect you from losses of physical and tangible business assets. You can tailor this coverage to fit your specific business needs. Examples of some of the types of protection a BOP will give you include:
- Equipment Breakdown – Some plumbing contractors use specialized equipment such as sewage pumps and motorized snakes. If this equipment breaks down your company will suffer from the loss of income and the cost to repair or replace the equipment.
- Buildings and Contents – Whether you run a retail plumbing store as part of your business or you simply keep your supplies in a store room, a BOP can protect you from the loss of the structures themselves and the tangible property you have inside.
- Business Income and Extra Expense – If your business structures are damaged in a storm you may find yourself unable to provide services to your customers. A BOP helps cover lost income and extra expenses that might arise due to temporary relocation needs.
- Products and Completed Operations (Included in General Liability) – If you sell a faulty product to your customers you could be held liable. Likewise, if work that you complete fails in some way your company could be liable as well.
- Electronic Data – Whether you keep work orders digitally or you use special software to design the plumbing layout of a new construction project, losing these files could cost your business substantial amounts of money to replace or reconstruct.
- Valuable Papers Protection – If you hold physical copies of critical paperwork, such as the original blueprints to a new house, losing them to fire or flood could devastate your company financially.
- Employee Dishonesty Coverage – If your company is ever subjected to employee theft, fraud or other types of dishonesty, your BOP can help protect you from the losses.
Business Auto Coverage For Plumbers
Commercial auto coverage protects you if a vehicle used for business is involved in an auto accident.
Workers comp insurance is required by law just in case your employees are ever injured on the job. It pays for their medical expenses and takes care of temporary or permanent disability when applicable.
A surety bond is a guarantee to your customers that you can get the work done that you agree to by contract.