All types of plumbers need insurance. Despite what people may think, plumbers have tough jobs. There are always a dozen risks when a plumber tries to open a sewer or drainage pipe. It doesn’t matter if they work with a crew or on their own. When there is a risk, it can affect one plumber or the whole crew. Having insurance means you have got coverage in case of any injury or loss. If you have been looking for insurance, then there is a business insurance service for plumbers that you can avail of. Insurance coverage for plumbers allows them to cover their business and their health.
What are the things that are usually covered in plumbing insurance?
Although every plumbing insurance could be a little different than the others, some basic things are usually covered in any plumbing marketplace business insurance.
- Plumbing contracts
- Sewer hookup contracts
- Piping contracts
- Drainage system installers
- Water pump installation
- Plumbing services
Mostly, the contracts, contractors, and services are covered by plumbing insurance. If there is anything out of the ordinary, then plumbing insurance safeguards the contracts between two parties and protects the plumbers. Now that you have got an idea of which things are covered in plumbing insurance, it is time to look at the factors that determine your insurance cost. Although these factors are all general, they tend to impact insurance costs.
- Owned property
- Number of employees under you
- Size of payroll
- Claim history
What is the best plumbing insurance?
Best plumbing insurance is what is right for you and fulfills your needs. The plumbing business owners could benefit from a Business Owner’s Policy (BOP) that has 3 main coverage points.
- Commercial property insurance: If you get commercial property insurance, it will help you cover your business’s physical location and the equipment to run that particular business. Whether you own the property or lease it for business purposes, you will be able to get commercial insurance.
- General liability insurance: This type of insurance protects plumbers from claims of bodily injury and property damage at the workplace.
- Business income insurance: In case some sort of damage occurs like flood or fire, and your business is affected, and you can’t run your business then this type of insurance helps you recover lost income.
Besides these three types of insurance, you could choose others as well. Most of the time, when a plumber is working at a client’s home, he could get an injury by slipping on the floor or causing damage to the drainpipe. But all of these risks are associated with plumbing. Having insurance is necessary to keep the business protected from such risks. Sometimes things are more intense, and it can lead to a lawsuit that requires legal expenses. Fighting a lawsuit isn’t an easy thing for the plumbing crew. Settlements from clients are encouraged to avoid certain conflicts. If an injury has left the plumber with a disability then he is given worker’s compensation insurance.