Plumbers are skilled at being prepared for almost everything. However, owning a plumbing company or simply working for yourself has some risks and liabilities. Having plumbing insurance is essential to the long-term viability and success of your company. Plumbing contractors offer both residential and commercial clients the essential services they require. However, plumbers must take into account a number of particular risks. In fact, any mishap involving the installation and maintenance of pipes or fittings can result in significant property damage and perhaps legal action. Depending on the size and breadth of the plumbing activity, there can be a wide range in the price of plumbing insurance. General liability insurance coverage can cost between $750 and $2,500 per year for a one-person plumbing business doing work on residential houses and not interested in having their tools and equipment covered. Be cautious when obtaining low-cost plumbing insurance policies, and talk in-depth with your insurance specialist about exclusions.
What Is Covered by Plumbing Insurance?
Plumbers who build, repair, and replace piping to connect to water supplies, gas utilities, sewer connections, appliances, sprinklers, and irrigation systems are covered by plumbing insurance. Along with renovation services for the kitchen and bathroom, the plumber may also offer retail sales of hardware and even appliances. For plumbers, general liability insurance, also known as commercial general liability, is advised since it may shield your company against claims of bodily injury, related medical expenses, and property damage made by another person or company. These claims might be made if one of your clients suffers an injury as a result of the work you did for them in a commercial building or residential property. It might also be useful if you or one of your staff accidentally damage a customer’s property while performing installation work.