July 19, 2024
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Key Things Plumbers Need To Know About Plumbing Insurance

While plumbing tends towards the messier end of the spectrum when it comes to job professions, legal disputes can turn it even messier. Should you find yourself on the wrong end of a liability claim without solid insurance policies to back you up, things can turn dire indeed. Regardless of whether you work as a septic installer or a pipefitter, you will always be at risk should you work uninsured. Plumbing contractors work on a variety of things. Be it installing, servicing, or repairing piping and fixtures across buildings large and small to work on sprinklers, gas, or irrigation systems, their services are numerous.

It often involves cutting metal or PVC piping by length and assembling it with the assistance of threaded coupling or adhesives. In some circumstances, you may even need to solder or weld pipes together, which poses more health hazards than you can count. And emergency services mean that you might not know the full extent of the issue until it stares you in the face. Owing to the uncertain nature of the job, a sound insurance policy becomes essential. Claims for damages caused to clients, equipment, or vehicles can bring your career to a grinding halt, making insurance a necessity today.  Protect yourself from lawsuits with a certificate of insurance from reputed plumbing insurance companies now! Here are a few commonly asked questions in the plumbing space.

How Much Does A Plumbing Insurance Cost?

On average, the cost of a standard General Liability Insurance policy for a small plumbing business starts fro $27 to $49 a month. Metrics that determine this cost include but are not limited to size, location, payroll, and experience in the field. There are numerous policies available from plumbing insurance companies that are tailored to your specific needs and requirements.

What Sort Of Insurance Do Plumbers Need?

The policies that most plumbers opt for are general liability, commercial property, commercial auto, and workers’ compensation insurance plans. Depending on the nature of operations, you can avail of other distinct specialty coverages as well. Based on where you are located, some states demand that you have specific types of insurance if you choose to work in them. Due diligence can help you stay ahead of the curve when it comes to meeting the requirements imposed by the state. If you’re a general contractor, you might have to invest in an insurance policy before you may be permitted to hire plumbers.

Are Business Owner’s Policies A Good Bet?

A BOP (business owner’s policy) combines multiple coverage types, cutting costs, and keeping things simple. They usually include coverage for general liability, property, and income loss. They’re a good way of starting off with insurance policies, and you can move to one more tailored to your needs or add more coverage based on your needs.

While choosing the right insurance policy for your business might seem like a chore, it is an essential step to protect yourself from untoward incidents and accidents that may cause you harm. Invest in the right insurance policy today!