Whether you're a business owner who just opened a plumbing business, or you've been working for many years, it's smart for plumbers to have plumber insurance that includes commercial auto insurance. 123
Think about the risks you face when you repair pipes or install a new hot water heater. There are fire risks when working with gas appliances. You might unknowingly use faulty materials and damage property. Accidents can happen that lead to medical expenses, even if you and your employees are careful workers.
Fortunately, having the right type of plumber business insurance can protect you, your employees, and your business. It can help you avoid catastrophic medical expenses, lawsuits, and more serious issues, like bankruptcy.
Plumber business insurance is also a good marketing tool. It tells potential customers that you're reputable and reliable. In fact, many customers require plumbers to have business insurance before they'll award a contract.
GENERAL LIABILITY INSURANCE POLICY
General liability insurance policies are very important to plumbers. They pay for accidents that lead to third-party claims of medical bills or property damage. You never know when an accident will happen and these can cost tens of thousands of dollars if someone gets hurt badly.
WORKERS COMPENSATION INSURANCE
If you have employees, you must have workers' compensation insurance. This policy pays for the medical expenses and lost wages of employees who are injured while working for you. Limits do vary, but every employer should realize that they need some level of coverage.
TOOLS & EQUIPMENT COVERAGE (Commercial Property Insurance)
When you are traveling from location to location, you need to have coverage that moves with you. Tools and equipment coverage is a type of commercial property insurance that does just that. So if your tools are stolen from your work van or job site, you have coverage. This coverage also allows you to get coverage for a trailer that you pull behind your commercial vehicle.
Plumbers use commercial vehicles to get from client to client. This may be a work truck or van. Either way, you will need to have commercial auto insurance for the vehicle which is required by law. It is important to realize that personal auto insurance will not cover claims that happen while you are driving for business purposes.
Plumber Business Insurance Cost
Protect your plumbing license with coverage from a top-rated insurance carrier. The cost of plumber business insurance depends on several factors, including your company's location and how many employees you have. To reduce your plumber insurance premium, you can consider raising your deductibles or purchasing a policy with less coverage. The average cost of plumber liability insurance starts at $55 per month or $900 per year.