Get Plumbing Contractor Insurance tailored for you and your business.
This will safeguard them against any unforeseen leaks and the resulting liability exposure. The insurance will protect your tools, equipment, and commercial vehicles.
Click on one of the below topics to unpack your Business Insurance:
If you find yourself in a situation where your products, services, employees, or incidents on your premises or at a customer’s location result in bodily injuries or property damage, liability coverage can provide the necessary financial support. It is important to note that even one seemingly baseless lawsuit can harm your reputation and finances. Safeguard your business by having a Commercial General Liability (CGL) in place.
Tools & Equipment
You can get coverage for repairing or replacing your tools if they are damaged by fire, smoke or lightning; vandalism or malicious acts; windstorm or hail; or stolen from your job site, garage or truck.
The tools you use to perform your daily tasks are vital and form the foundation of your business operations. Unlike in many other industries, these tools are constantly on the move, which exposes them to a higher level of risk.
While not all construction projects have a significant ecological footprint, the responsibility for environmental harm is on the rise.
Pollution liability insurance provides coverage for any bodily injuries or property damage sustained by third parties, as well as expenses related to clean-up efforts, civil penalties, and emergency response. This type of insurance ensures that potential liabilities are addressed and mitigated effectively.
The appropriate Commercial Auto Insurance plan can protect you, your vehicle, and the transported items. As part of your work, you likely have vehicles specifically used for commercial purposes.
Commercial auto policies safeguard any vehicle for transporting people, tools, equipment, and materials.
The Contractor’s Rework extension protects expenses for rectifying substandard workmanship or materials. It also covers the additional costs of restoring the project to its original condition. How can this coverage benefit you? Suppose a contractor is hired to replace the old piping in a basement, but unfortunately, the materials used do not meet industry standards. As a result, the contractor has to remove and reinstall pipes that meets specifications.
Disability coverage replaces some of your income if you can’t work because of an injury or illness. Up to 40% of Canadians become disabled for 90 days or longer before age 65. Disability insurance can help you meet your financial obligations as the benefit can replace most of your take-home pay. It allows you to avoid dipping into your retirement savings.
What is the cost of insurance for plumbing contractors?
It is challenging to provide an average cost since every business is unique, and coverages can be customized based on your specific needs. The premiums will vary depending on various factors, including but not limited to:
– Years of experience
– Services provided
– Annual and projected gross revenue
– Number of employees
Does a plumbing contractor really need insurance?
Let’s consider a scenario where, while on a job, your truck gets stolen along with all the tools and equipment it contains. By utilizing your commercial auto policy and the coverage for tools and equipment, you may be eligible for reimbursement of the costs associated with replacing everything. Here are a few examples of plumbing businesses:
1. Master Plumbers
2. Pipe Fitters
3. Septic Tank Installers
4. Sprinkler Installers
Why you need errors and omissions coverage (E&O).
If your business involves design-build operations, there is a potential professional risk that may not be covered by your Commercial General Liability (CGL) policy. In the event of a project delay or financial harm caused by a professional error, clients may seek compensation from you. Contractors Errors & Omissions (E&O) insurance is designed to address these situations and provide coverage for such claims.