Plumbing Insurance: Small Business Insurance for Plumbers

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Whether you’re a carpenter, a handyman, gas engineer, or an electrician, working in the trades is more profitable than it has ever been thanks to the skilled labor shortage in America. However, for the sake of this guide, we’re going to focus on an entirely different kind of tradesman insurance: plumbing insurance.

If you want to avoid risking your whole business in case something goes wrong with a job, it’s typically a good idea to get your hands on a plumbers insurance policy. We’re going to outline what you need to know about insurance for plumbers, including the average plumbing insurance cost as well as going over some of the best plumber insurance companies.

Plumbing Insurance Coverage

There are many different forms of plumber insurance depending on the kind of coverage a business needs. While some forms of coverage, like plumbing liability insurance, are more prevalent than others, there’s a purpose for each kind of policy depending on the risks that the specific plumbing business is likely to deal with. For example, interior plumbing insurance vs exterior plumbing insurance, plumbing and electrical insurance coverage combined, etc.

Of course, if you want more coverage, you’re going to have to pay more when it comes to your premium, but many carriers offer to bundle together various forms of coverage. For example, a BOP (Business Owner Policy) will mix liability insurance and commercial property insurance for a lower rate than both would cost individually.

Plumbing Liability Insurance

Liability insurance for plumbers is one of the most popular kinds of plumbing business insurance because it applies in some of the most potentially damaging cases and covers from a broad spectrum of common risks plumbing businesses face. Liability insurance for plumbers is designed to protect a plumbing business from lawsuits seeking compensation for property damage or bodily injury sustained while a plumber is working.

There are several different kinds of liability insurance that will affect the exact parties that the policy will pay out for. The two most common types of liability insurance for plumbers are public liability and general liability. While GL is more recommended, there is also professional liability insurance, which is also known as professional indemnity coverage. 

Plumbers Public Liability Insurance

Public liability insurance for plumbers is a common plumbing company insurance policy choice for smaller businesses that don't have employees or multiple business owners. Public liability insurance only extends to lawsuits filed against your business by members of the public.

Members of the public include clients, but it can also include third parties like employees of businesses delivering supplies to you and even passers-by. If any member of the public ends up getting hurt or having their property damaged over the course of your job, public liability plumbing business insurance will cover you.

Plumbing Insurance Cost

The cost of commercial plumbing insurance depends on the kind of policy you’re getting your hands on. We’ve already mentioned how general liability coverage is more expensive than public liability coverage, so we’re going to take a look at both of them individually so you have an idea of how much you’re going to spend.

Plumbing Liability Insurance Cost

General liability insurance for plumbers is usually the more expensive kind of coverage, though there are additional factors that will influence how much you spend on it. For example, if you have a larger plumbing business, your insurance will be more expensive because of the larger risk the insurer is taking.

Along with the size of your plumbing business, your history as a plumber will also be considered by the insurer. If you have a history of making mistakes when you work with clients, then insurance companies will be less likely to trust you, resulting in more expensive rates.

Plumbers Public Liability Insurance Cost

The cost of public liability small business insurance for plumbers tends to be a little more affordable than general liability coverage. However, once again, you can’t expect rates to be uniform because of the wide range of factors that carriers consider when you’re purchasing insurance.

To get the following quotes for cheap public liability insurance for plumbers, we used a medium-sized plumbing business that has no history of errors or claims with other insurance companies. This ensures that these can act as reference values for most plumbing businesses, though keep in mind that rates may also vary based on area.

Best Plumbing Insurance Companies

Whether you’re looking for plumbing contractors insurance or plumbers tools insurance, you’ll want to carefully consider which insurance company you intend to work with. Instead of just opting for cheap plumbing insurance, you’ll want to be sure that you’re working with a company that provides good customer service and quick claims responsiveness.

State Farm Plumbing Insurance Coverage

State Farm is one of the largest insurance companies in the United States, and the company was founded in 1922. State Farm is known for using exclusive agents, ensuring that only their agents are the only ones who can sell State Farm services and it also works in reverse, with their agents only being able to sell State Farm policies.

State Farm Policy Details

State Farm’s plumber insurance policies include property coverage, installation insurance, mobile equipment coverage, and general liability. Along with their level of knowledge in the field of plumbing, State Farm also allows clients to fully customize their policies.

Pros: 

• Affordable general liability coverage

• Wide range of policies

• Customizable policies

Cons:

• Pricey public liability policies

Average cost: $50

Best for: Custom insurance policies

Geico Plumbing Commercial Insurance

Geico was founded in the 1930s as the Government Employees Insurance Company, and they are known for their marketing campaign that features their signature Gecko. While the company mainly deals in auto insurance, they also specialize in business coverage, though they mainly use umbrella policies.

Geico Plumbing Policy Details

As with other niche insurance types, Geico offers plumbing insurance under their general liability insurance blanket policy. This policy will cover plumbers in case of property damage, physical injuries, defense costs, and even advertising injury.

Pros: 

• Moderate prices

• Covers personal and advertising injury

• Also offers cyber liability and BOPs

Cons:

• No specific policies for plumbers

Average cost: $59

Best for: Small businesses