Plumbing companies and their staff won’t sit about in their stores all day and only fix things in their workshops. Often enough you will be on site at homes, building sites and businesses repairing faults. Where it comes to plumber insurance you’re going to need a number of different policies that cover all of your business activities. In this article we will look at these and show why you will need them.
All business owners will need this in some form. In the plumbing trade you will need to protect yourself against an accident either at base or on site where the customer might come to harm. The insurance will cover their medical bills from the accident as well as legal costs incurred in them suing you for the event happening.
Within this General Liability insurance there are three elements you need to consider:
- Premises liability covers you for all accidents and injuries incurred on your premises, as well as when you are out on site performing your work.
- Products liability is protection against the items you are fitting such as valves, taps or pipes causing damage or injury to the customer or their premises.
- Completed operations will cover you for claims made after you have left the site, perhaps (but not exclusively) due to failure of the parts or workmanship.
Being good at what you do and proud of your skills may mean you never have to make a claim on your policy as most insured people and businesses find. There is always a moment that you didn’t want to happen and given the medical and legal costs you could face bankruptcy if not covered.
Business Owners Policy
All businesses should have some form of this, and a plumbing company is no exception. It is down to you to consider what element you need for your business but broadly these fall into five categories:
- Buildings and Contents
- Business Income and Extra Expense
- Electronic Data
- Newly Acquired or Constructed Buildings
- Employee Dishonesty Coverage
If you don’t have a computer with essential data you’re lucky but this insurance for example would cover that, as well as malicious hacking to get hold of your customers’ data. Equally if you have no employees you won’t require the element covering their dishonesty.
Workers Comp Insurance
Related to the last point, by law in the US, you require Workers Comp insurance should you have any employees. This covers liability for their medical care should they be injured while working on your premises or on site.
Business Auto Insurance
This is another thing to consider for your plumbing business. Business auto insurance will cover against accidents and injury on the road to your vehicles and those of others should the driver be at fault.
In addition you can get insurance against deliberate damage to your vehicles and theft of the contents – given the price of good tools these days that can save a big hit to your business!
Having read this you will now have a better idea as to what plumber insurance you need for your business. You may never need to claim but that time, with a good insurance company behind you, may not be as painful as it might be should you not have it in the first place!
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