Plumbing is a messy business. Fixing busted pipes during frigid winter months, unclogging hazardous toilets and crawling into tiny spaces not meant for humans are only a few of the on-the-job risks. However, it can be rewarding in many ways and is worth protecting.
Our independent insurance agents are ready to help you find the policy best suited for your business. They can walk you through the ins and outs of plumbing insurance to make sure you’re covered in all the right places.
What Is Plumbing Insurance?
Basically, it’s a combo of coverages designed to protect you, your business, and your employees from any mishaps that may happen as a result of day-to-day operations.
Why Do I Need Plumbing Insurance?
Plumbing comes with many inherent risks, including those associated with defective products, unsafe environments, faulty installations, and human error, so protection is key to keeping your business alive.
Another huge reason is a lot of states have coverage requirements for plumbers to be properly licensed. Plus, it’s common for property owners to ask for proof of insurance before hiring, in order to guarantee their safety.
What Does Plumbing Insurance Cover?
Typically, for small to mid-sized plumbing companies, standard forms of coverage are bundled into a business owners policy, or BOP, but you’ll also need additional standalone policies to fully protect everything you have against a number of unique risks.
A business owners policy will usually include the following:
- General liability: Protects against lawsuits related to injury and property damage, or if your advertising causes reputational harm to another person or company.
- Property insurance: Covers damage to your building or equipment on your property.
- Business income insurance: Covers up to a year of lost income due to any insured property loss.
Standalone policies to consider adding can include the following and more:
- Commercial auto insurance: This covers any damage to, or theft of, any vehicles you or your employees use on the job.
- Inland marine insurance: Protects property, equipment, and tools moving between job sites and the business.
- Installation floater insurance: This is a type of inland marine insurance. It covers materials and products from the time they leave your property until they are installed or used.
- Workers compensation: Covers employees' medical costs, lost wages, permanent disability, or death benefits that result from a workplace injury or illness. This coverage is mandatory in almost all states.
Who Needs Plumbing Insurance?
It’s not just for plumbers. Anyone who works in a trade or owns a business dealing in plumbing should carry some level of coverage. Here are examples of businesses that should consider coverage:
- Plumbing contractors or business owners
- Septic tank installers
- Pipe fitters
- Home builders
- General contractors
How Much Does Plumbing Insurance Cost?
The cost of plumbing insurance will depend on the amount of coverage and a number of other factors like size, location, number of vehicles, and state regulations. However, there are some ranges to consider.
For a typical general liability policy for plumbers, coverage could cost anywhere from $600 up to the thousands annually. A commercial vehicle policy typically ranges between $800 up to the thousands annually, while workers compensation is usually at least a couple thousand dollars a year for smaller businesses.
Finding and Comparing Plumbing Insurance Quotes
Our independent insurance agents will review your needs and help you evaluate which type of plumbing insurance makes the most sense for your business. They'll also compare policies and quotes from multiple insurance carriers to make sure you have the best protection in place.
What’s So Great About Independent Insurance Agents?
Insurance policies can be complex and searching through options can be confusing, time-consuming, and frustrating. An independent insurance agent's role is to simplify the process. They’ll make sure you get the right coverage and will break down all the jargon so you understand exactly what you're getting.