Plumbing Insurance

Plumbing Insurance

The plumbing profession in the Ontario area is without a doubt faced with a variety of risks on any given day. Just one slight and simple mistake could result in a major lawsuit that could potentially shut down most small contractors.

This is why it is imperative to ensure that you, your employees, and your business are protected with a plumbing insurance policy. Not only do we offer unique policies for all plumbers in the Ontario area, but also our highly trained agents can help you customize your policy to suit your very specific needs and risks.

 

What Can You Expect To Pay?

There are a variety of factors that can really affect the overall cost of your plumbing insurance but having a contractors insurance policy in place is very important for many reasons. Sure, some companies might have to pay a bit more based on their coverage needs, but this insurance is without a doubt a necessity for any plumbing contractor. Plumbers with higher exposure and claims history can expect to pay more. If you are just recently filed a huge claim, you can certainly expect to pay more than a contractor who has never filed a claim before.

Know The Basic Types Of Plumbing Insurance Coverages

While there are a variety of policies available, there are some basic policies that every plumbing contractor could benefit from. These are general liability insurance and commercial auto insurance. In fact, the law might require you to invest in these two policies before you even legally open fro business.

  • General Liability Insurance – GL insurance is a type of liability insurance that provides basic coverage against lawsuits and other financial risks that are the result of a mishap or error on your part. For instance, if you drop a wrench off a ladder and knock a customers tooth out, this policy would cover any medical expenses or lawsuits that ensued.
  • Commercial Auto Insurance – Any vehicle that is used for business related purposes would need to be covered under commercial auto insurance. Some of our policies might have coverage limits, but we can ensure everything from the van you use to the trailer you use to haul equipment.

Do You Need Other Policies as Plumber?

Unfortunately, these won’t be the only policies that most plumbing contractors need. Most plumbing contractors will also need business owner’s policy insurance and worker’s compensation insurance.

  • Business Owner’s Policy – This is a bundled package that can be customized by our staff. For instance, you can combine general liability insurance with commercial auto insurance, and personal property insurance.
  • Worker’s Compensation Insurance – This coverage helps cover medical losses and a portion of lost wages that are experienced by employees, who are injured on the job.

 

Bonded jobs

Also worth noting is that sometimes project owners, big builders, governing bodies, municipalities, or your city may ask you to present a surety bond in order to bid on tendering jobs in addition to insurance. If this is the case, it would definitely be worth exploring applying for a bonding facility so your business can bid on jobs that are exclusive to bonded companies.

Type of contract surety bonds we provide for plumbing companies

We can help you attain these bonds. Please contact us to learn more.

 

Click Below To Get A Quote

If you want to find out what business insurance coverage your company needs, you can call us. Regarding learning about how much you are going to have to pay, you can start by reading about factors that determine plumbing business insurance cost.

You can also speak with one of our highly trained professionals that can educate you about information that you will need to provide to get a plumbing insurance quote along with answering any question that you have regarding our policies and prices.

 

get a quote now

 

Plumber Disability Insurance

You biggest asset in life is your earning ability. If you are unable to work, you will need to rely on either your savings or borrow money to sustain your lifestyle. When these unfortunate circumstances occur, dependents and spouses are also impacted financially and emotionally.

Disability insurance coverage will provide you a monthly income benefit, usually totaling 70% to 80% of your income, when you are unable to work for a period of time due to injury or illness.

 

Types of Disability Insurance we offer

 

Other type of contractors we commonly insure

 

Frequently asked questions before buying Plumbing contractors insurance