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Plumbing Insurance
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Plumbing Insurance
As a first-rate commercial insurance brokerage, Contractors Insurance is committed to helping contractors and tradespeople with all their insurance needs. Whether you’re an independent plumbing professional or the owner of a plumbing company, tailored plumber insurance offers you financial protection against the risks associated with your industry. Our award-winning professional services are tailored to protect you and your business operations.
Our customized plumbing insurance policies allow you to choose the coverage you want, and avoid costly and unnecessary riders. Work with us to see for yourself why Contractors Insurance is the name trusted by hundreds of Ontario contractors to safeguard their businesses and provide peace of mind.
What Is Plumber Insurance?
Plumber insurance refers to an insurance bundle that addresses the unique risks plumbers face, including chemical exposure, hazards from improper tool handling, physical injury, third-party property damage, etc. These policies cover legal fees, damages, and other associated expenses for plumbers in the case of accidents.
What Does Plumbers Liability Insurance Cover?
In many cases, plumbing business insurance is used interchangeably with plumber’s general 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 might be needed:
Commercial General Liability Insurance
Plumbers face certain hazards due to the inherent risks of their line of work. Commercial general liability insurance is required for many contracts, and covers repair and replacement costs, medical costs, and legal costs if your business is held responsible for injuries or damage to third-party individuals or property on ongoing or completed projects.
Tools and Equipment Insurance
Tools and equipment insurance is a specialized equipment policy to protect the tools that plumbers rely on for their livelihood. This type of plumbing business insurance covers a wide range of equipment, from hand tools to specialized machinery, both leased and owned. It provides financial protection for loss, damage, theft, equipment breakdown, liability, and loss of income, so plumbers can avoid business interruptions and financial consequences.
Pollution Liability Insurance
Pollution Liability Insurance is recommended for any contractors at risk of causing environmental damage or contributing to pollution hazards. Plumbers, who work with fixtures and appliances that come into contact with water, need protection against financial risks caused by environmental pollution, such as legal fees, cleanup costs, and emergency response costs.
Commercial Auto Insurance
Plumbers are exposed to various risks when traveling to and from job sites throughout the day. Commercial auto insurance covers the medical, repair, replacement, and legal fees resulting from injuries or damage caused by your commercial vehicles. This type of coverage also provides compensation for theft or vandalism of your commercial vehicle.
Commercial Property Insurance
Protect your office or headquarters from theft, vandalism, third-party damage, and natural disasters with commercial property insurance for plumbers. Safeguard the tools and equipment, documents, electronic data, and materials that keep your business running. Adding this coverage to your plumbing insurance package minimizes your financial losses in case of any business interruptions.
Surety Bonds
Surety bonds are essential for plumbers, ensuring compliance with licensing requirements and safeguarding clients against unfinished or subpar work. Whether securing permits or bidding on contracts, a surety bond protects both plumbers and their clients on every job by guaranteeing project completion or reimbursement for damages and errors.
Who Needs Plumbers Insurance?
Whether you’re just starting out or running a full-scale plumbing operation, comprehensive plumbing insurance coverage protects you from substantial financial losses associated with repair costs or legal fees resulting from bodily injury or damages.
No matter the size or scope of your business, plumbing insurance protects:
- Independent Contractors: These individuals face potential liabilities from client claims or job-site accidents. Plumber insurance ensures financial protection and peace of mind, while maintaining professional independence and credibility.
- Small Plumbing Businesses: Protect your team, valuable equipment, and service vehicles from unforeseen risks. Plumbing insurance prevents business interruptions in the case of accidents or unexpected challenges.
- Specialty Plumbers: Mitigate unique risks associated with specialized services like gas fitting, backflow prevention, or septic systems. Comprehensive plumbing insurance safeguards against industry-specific liabilities while supporting compliance with safety standards.
- Established Companies: Comprehensive plumbers insurance protects your company’s reputation, assets, and long-term business goals. Minimize the financial impact of claims, employee accidents, or property damage with tailored protection for established companies.
Why Ontario Plumbers Need Plumbing Insurance
Many municipalities in Ontario require proof of liability insurance before granting a business license. Even if it’s not mandatory where you work, plumber’s insurance provides you and your clients with peace of mind and can save you tens of thousands of dollars.
Plumber Insurance Claims Examples
Claims Example #1
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While working on a plumbing project, a miscalculation leads to you shattering an antique heirloom vase worth thousands of dollars.
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The client successfully sues for property damage. Your insurance policy will cover fees and settlement costs amounting to $7,000.
Claims Example #2
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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.
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The client successfully sues for property damage. Your CGL will cover the legal fees and settlement amount totaling $35,000.
Claims Example #3
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On the way to a client’s home, one of your employees is involved in a car accident, leading to injuries to both parties and damage to both cars. The third party sues your company.
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The third-party individual successfully sues, and your employee needs two weeks to fully recover from the injuries sustained. Your personalized plumber insurance policy, which can include commercial auto insurance and worker’s compensation coverage, covers legal fees, medical expenses, lost wages of your employee during recovery, and repair/replacement costs—a total of $30,000.
Leading Provider of Plumber Insurance in Ontario
At Contractors Insurance, we strive to offer exceptional service and quality packages that set us apart. When you work with us, expect the following benefits:
Personalized Insurance Plans
Pay only for the coverage you need. Our expert team of insurance brokers will help tailor a personalized insurance package. You won’t pay for unnecessary services, so you can save while still being protected.
Transparency on Coverage and Limitations
We aim for full transparency with every client. 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—so you can take charge and make adjustments if needed.
Thorough and Straightforward Insurance Education
We want you to understand insurance policies inside and out, so you know exactly what to expect. We avoid any complicated insurance jargon and strive to explain insurance concepts in the most effective way possible. Being on the same page with our clients also allows us to receive valuable input so we can refine our offerings.
Frequently Asked Questions About Insurance For Plumbers
Liability insurance for plumbers is a fundamental type of plumbing business insurance. On average, a coverage limit of $2 million will cost an average of $45 per month. While other types of coverage can add to this cost, bundling insurance policies can be a cost-effective solution that offers broad protection for plumbing contractors.
Although Ontario law may require specialized plumber insurance, all businesses in Ontario must have commercial general liability insurance to operate. Additionally, many business owners and independent contractors still choose a business specific insurance to protect them from financial losses and enhance their reputation.
Ready to Get the Coverage You Need?
Contractors Insurance is an award-winning insurance brokerage firm based in Ontario. Our personalized plans provide individual contractors and businesses peace of mind knowing they’re in good hands. If you’re searching for a trusted insurance provider that can provide plumber’s liability insurance or a bundled plumbing insurance plan, look no further than Contractors Insurance.
Contact us for a free quote. Set your business up for success with our plumber insurance plans today.