Common Concerns For Plumbing Contractors

If you’re a plumbing contractor who wants to stay in business, liability coverage is something that must be obtained at the earliest. It is a requirement that can change based on the premises or operations, off-site locations, and exposures to products or completed operations. Instead of opting for them one by one, a business owner’s policy (BOP) does the hard work for you by combining various coverages under a single roof. Or you could purchase a commercial general liability (CGL) policy that works in the same manner. In some areas, you may also require insurance for plumbing businesses that operate in areas that may have toxic fumes or other hazardous components.

Physical damage is something that must certainly be covered by the plans that you choose to opt for. This includes your tools and equipment on and off the client’s premises. Workers’ compensation insurance is another crucial facet to a successful plumbing venture. If you work with subcontractors, ensuring that you opt for the policies that take their needs and considerations into account is of paramount importance.

Insurance Concerns For Subcontractors

There are many forms of subcontractors who may choose to work with your firm. Casual contractors, also known as artisan contractors, are involved in several layers of construction and contracting work. This does not need to be tied to plumbing as well. For instance, if a building is being constructed, it requires workers working on different systems at the same time, be it lighting, plumbing, electricity, etc. Carpenters, painters, electricians, and plumbers are just some of the many subcontractors you will encounter. The right partnership will pay off for both parties, so working together in tandem is a good strategy to start with. Accordingly, picking the right insurance policies that cover all personnel involved will help mitigate legal disputes in the future.

Each subcontractor works in a different domain, which means that you will have to opt for different policies depending upon the risks and exposures involved. For instance, an electrician will require policies that protect the organization from charges against short-circuits, etc. while a plumber may need protection from disputes with respect to hazards that may arise from improper plumbing. Some may even need policies that are broader in scope. These protect their equipment, increase liability limits, or even protects vehicles from damage if they are used for business purposes.

Policies Plumbing Contractors Require

These are the policies that all contractors must seriously consider:

  • Business Personal Property
  • Employee Dishonesty
  • Contractors’ Equipment And Tools
  • General Liability
  • Employee Benefits Liability
  • Umbrella Liability
  • Automobile Liability
  • Hired And Non-owned Auto Compensation
  • Workers’ Compensation

With these insurance policies in mind, you can take the right decisions when it comes to opting for policies that take care of one or more of these concerns. Umbrella policies and business owner’s policies (BOP) are preferred because they cover a range of legal issues at once, at an affordable cost as well. Invest in the right plan as a plumbing contractor, taking into account the unique problems that insurance for plumbing businesses may face.