Liability Insurance for Plumbers
As a first-rate commercial insurance brokerage, Contractors Insurance is dedicated to helping contractors, independent contractors, and tradespeople with all their insurance needs.
Whether you are an independent plumbing professional or the owner of a plumbing company, tailor-fit plumber insurance can protect you against various risks associated with your industry. And because our insurance plan can be customized to your needs, you won’t need to pay for any unnecessary riders—only the ones you need.
We are happy to have served hundreds of contractors through our years of service, and we can help you too. With Contractors Insurance, you can be sure that you are in good hands!
What Is Plumber’s Insurance?
Plumber’s insurance refers to a bundle of insurance for plumbers that address the unique risks that a plumbing business is exposed to. This type of insurance can be personalized by a qualified insurance brokerage like Contractors Insurance to suit the needs of both plumbing companies and self-employed/independent plumbing contractors.
In many cases, plumber’s insurance is used interchangeably with plumber’s liability insurance, a specialized type of commercial general liability insurance for plumbers. However, some businesses and independent contractors have other risks for which additional coverage would be needed. Thus, the following can be included in your personalized plumber’s insurance:
Commercial General Liability Insurance for Plumbers
Commercial general liability insurance is not just a necessity for plumbers, it is a requirement in nearly all kinds of industries. However, plumbers may need this type of insurance all the more since this line of work requires travelling to the clients’ residential or commercial property, as well as the potential for property damage to be caused due to the plumbing work being done.
Commercial general liability covers repair/replacement costs, medical costs, and legal costs if your business is faced with the following:
- Injuries to third-party individuals and damage to third-party property while the project is ongoing or already completed
- Third-party injuries that occur within the plumbing contractor’s business premises, wherein the plumbing contractor is found legally responsible
- Advertising or reputational injuries (libel, slander, copyright infringement, and so on)
Commercial Auto Insurance
The typical plumber goes to various residential and commercial properties multiple times a day. If your company has a fleet of vehicles for this said purpose, then commercial auto insurance is a must. This type of insurance covers the medical/repair/replacement/legal costs that result from the following scenarios:
- Bodily injuries caused by your commercial vehicles
- Property damage caused by your commercial vehicles
- Theft or vandalism done to your commercial vehicle
Commercial Property Insurance
Many plumbing companies have an office or headquarters where various tools, equipment, documents, materials, and so on, are kept. The integrity and security of this office are essential for keeping the business running.
With commercial property insurance, you are covered from financial loss if your workplace is subjected to these unforeseen circumstances:
- Theft and vandalism
- Natural disasters that damage the property or limit its accessibility
- Lost income from business interruption due to the above causes
Sometimes, surety bonds are required from plumbing contractors who want to take on certain projects. Surety bonds serve as a guarantee that the project will be completed in line with regulations and/or as dictated by the contract.
Who Can Benefit From Plumber Insurance Coverage?
Whether you are an independent/self-employed plumber or the owner of a plumbing company, you can benefit from having plumber insurance that fits your unique needs. Insurance for plumbers can help protect against consequential financial losses following unforeseen events related to the following:
- Lawsuits from third-party individuals and businesses regarding a bodily injury or property damage in relation to projects in progress.
- Lawsuits from third-party individuals and businesses regarding subsequent property damage following defective work.
- Lawsuits related to bodily injuries sustained by clients or other third-party individuals within the premises of the business
- Bodily injuries sustained by the employees during the course of work
- Vehicular accidents while the plumber is going to the client’s property
- Natural disasters or theft in relation to the plumbing business’s own property
- And more.
Through the years, we have assisted numerous plumbing contractors and plumbing companies in setting up personalized plumbing insurance policies. If you have any questions for us about insurance for plumbers or if you’d like to get started, we’re here to help!
Why Is It Important for Ontario Plumbers to Have Plumber Insurance?
Plumbers liability insurance, also known as commercial general liability for plumbers is the most essential type of insurance that anyone working in this industry needs. This is because plumber’s liability insurance can provide protection from common third-party lawsuits concerning property damage, bodily injury, and even reputational/advertising injuries.
Additional coverage can be added to this so that your business is protected when faced with incidents such as commercial property damage, business interruption following property damage, road accidents, employee injuries, and so on. The right insurance plan, put together by an expert insurance brokerage like Contractors Insurance can save you thousands to even hundreds of thousands when faced with unfortunate unforeseen events.
Plumber Insurance Claims Examples
Claims Example #1
While working on a plumbing project, a miscalculation leads you to shatter an antique heirloom vase worth thousands of dollars.
The client successfully sues for property damage. Your plumber insurance policy will cover fees and settlement costs amounting to $7000.
Claims Example #2
One of the plumbing components that you installed fails and results in water damage to the wall and eventual flooding in the home. The client sues you.
The client successfully sues for property damage. Your CGL will cover the legal fees and settlement amount totalling $35,000.
Claims Example #3
While one of your employees was on his way to a client’s house, he gets involved in a car accident, leading to injuries to both parties and damage to both cars. The third-party sues your company.
The third-party individual successfully sues and your employee needs 2 weeks to fully recover from the injuries sustained. Your personalized plumber’s insurance bundle, which can include commercial auto insurance and worker’s compensation coverage will cover the legal fees, medical fees, lost wage of your employee during recovery, and repair/replacement costs—a total of $30,000.
Leading Provider of Plumber Insurance in Ontario
Our customer-centric approach truly sets us apart from the rest. We strive to offer a quality of service that is completely different from the frustrating norm. When you work with us, we will offer the following benefits:
Personalized Insurance Plans
Pay only for the coverage you need. Our expert team of insurance brokers will put together an insurance plan that is tailor-fit for you. This means you won’t need to pay for any unnecessary riders. In the long-term, you’ll be able to save while still enjoying superb insurance protection.
Transparency on Coverage and Limitations
We aim for full transparency with the clients we serve. You’ll know your personalized insurance plan through and through—how it works, what the triggers are, what the limits/exclusions are, and so on. This way, you will be in the best place to let us know your thoughts or if you’d like anything adjusted on your insurance plan.
Thorough and Straightforward Insurance Education
We’d like to empower you with knowledge about insurance so that you fully know what to expect. This is why we avoid any complicated insurance jargon and we strive to explain insurance concepts in the most effective way possible. Being on the same page with our clients also allows us to hear valuable input so we can refine what we offer to them.
Frequently Asked Questions About Plumber Insurance
Liability insurance for plumbers is a fundamental type of insurance that plumbers need. On average, a coverage limit amounting to $2M will only cost around $45 per month. Any additional coverage may add more to this cost but bundling insurance policies together can give you a cost-effective insurance plan with the broad protection that you need.
Though plumber insurance may not be required by Ontario law, many business owners and independent contractors still secure this type of insurance because it protects their business and allows them to have peace of mind knowing they are ready for anything.
Ready to Get the Coverage You Need?
Looking for liability insurance for plumbers? Contractors Insurance can help! We are a trusted and award-winning insurance brokerage based in Toronto. Through our years of service, we have helped numerous independent contractors in getting the personalized insurance plan that they need in order to be protected from various liabilities.
We can put together plumber insurance for your business which can include plumber’s liability insurance along with any needed additional coverages.
Our dedicated and professional insurance brokers are ready to assess the risks of your business and listen to your preferences to give you the best insurance plan possible. You can count on our committed service to help you propel your business to a more secure and successful future.
Contact us today or get started with a quick quote!