Insurance for plumbers
As one of Canada’s essential trades, plumbers ensure water distribution systems work correctly.
Plumbing, however, is not an easy job. Whether you are a residential or commercial plumber, there is a high level of risk, and damaging a client’s property can spark a lawsuit quicker than water rushing out of the floodgates.
At Zensurance, our mission is to make insurance as easy and accessible as possible. We wrote this guide to help you navigate the basics of plumbing insurance.
What is plumbing insurance?
Mistakes happen, and you may be held liable for any unforeseen accidents resulting from business-related activities.
Our plumbing insurance policy package protects against common risks plumbers face while working on a job site, including third-party bodily injury and property damage.
What does it cover?
Plumbing insurance is designed to cover the legal ramifications following an accident resulting in damages, loss, or injury to both equipment you own and the property of your clients. Comprehensive coverage for plumbers typically includes the following coverage:
- Commercial General Liability Insurance (CGL), also known as plumbers liability insurance, is the most commonly purchased insurance coverage. It provides financial protection against claims or lawsuits alleging third-party property damage or bodily injuries. As a plumber, you are well aware of the amount of damage broken water pipes can cause. If the damage results from services you provided, your Commercial General Liability Insurance would cover the subsequent legal costs.
- Tools and Equipment Insurance protects the tools and equipment owned by your business against damage, and loss, including theft. Items that are worth over $1500 are considered equipment and anything under classifies as tools. If you own any expensive equipment or work in high-risk areas, this would be a coverage to consider.
- Pollution Liability Insurance is a specialized form of coverage designed to protect against pollution-related accidents resulting in third-party injury or property damage. Pollution liability insurance is essential for plumbers, as they work on waste disposal lines and water systems. Most CGL policies will have an exclusion for any liabilities caused by pollution. Check with your broker to see if this policy is right for you.
Who needs plumbing insurance?
Regardless of how careful you are, any contractor or business providing plumbing services should protect their company with a tailored plumbing business insurance package.
We’ve insured 1000s of contractors within this industry; some of our clients include:
- Master Plumbers
- Pipe Fitters
- Septic Tank Installers
- Sprinkler Installers
Not only will it protect you from financial loss, but it also helps in securing new contracts. Most property owners looking to hire a plumber will want to see a certificate of insurance before signing a contract.
How much does it cost?
The cost of plumbing business insurance starts at around $540 a year for a Commercial General Liability Insurance policy with a$5M coverage limit. Premiums will vary depending on several factors, including:
- Years of Experience
- Annual and Projected Gross Revenue
- Number of Employees
Zensurance has partnered with over fifty insurance providers to offer the policy that best suits your business needs at the lowest price.
Common claims scenarios
Other contractor trades we can provide coverage for: