Other Coverage Options for Plumbers
In addition to General Liability Insurance, several other types of insurance are crucial for plumbers to consider:
Tools Coverage
Coverage: Protects your tools and equipment from theft, damage, or loss.
Importance: Tools are essential for your work; losing them could halt your operations and result in costly replacements.
Auto Insurance
Coverage: Covers vehicles used for business purposes, including work trucks and vans.
Importance: Ensures that you’re protected in the event of an accident while driving between job sites.
Surety Bond
Coverage: Guarantees that you will fulfill your contractual obligations.
Importance: Often required by clients or municipalities, it assures them that the work will be completed as agreed.
Workers' Compensation
Coverage: Covers medical expenses and lost wages for employees who are injured on the job.
Importance: Required by law in most states, it protects both your employees and your business from the financial impact of workplace injuries.
Excess Liability
Coverage: Provides additional coverage beyond the limits of your General Liability Insurance.
Importance: Offers extra protection in the event of a large claim that exceeds your standard policy limits.