Plumbers Insurance In Massachusetts
Installing and repairing drainage, sewage and water line around houses and in buildings is a message job. For this reason, people call on professional plumbers to do all the dirty work. As a plumber the most important asset to your business is your Plumbing Insurance policy. It is vital that you seek assistance from an agent who understands your business and is able to adequately assess your coverage needs, which includes:
- Protection against any liability claims that you or your employees are responsible for damage caused
- Coverage for damage to the equipment and vehicles that are owned by your company
- Coverage for injuries to you, your employees, your clients and the general public
Licensed plumbers in the state of Massachusetts are required to carry liability insurance unless they have a signed waiver from the home or business owner. Therefore, it is best to make certain you have the right Plumbers Liability Insurance policy in place to avoid any problems down the road. In fact, many property owners will require you to produce proof of Plumbers Insurance before they even hire you for the job.
What Type Of Coverage Do Plumbers Need?
Plumbing Insurance may be structured in a number of different ways. It all depends on the size of your plumbing company and the jobs that you perform. A basic Plumbers Liability Insurance policy will most likely include a bundle of the following coverage types:
- General liability insurance - This is coverage for lawsuits, damages and injuries that are due to mistakes or accidents that occur during the course of your plumbing work.
- Loss of income insurance - When a covered incident forces you to close the doors of your business for some time, you will be able to receive compensation for the lost business income for up to one year due to such business interruption.
- Property insurance - This is the type of coverage that is required to protect against damage to your plumbing tools and equipment.
The larger and more specific plumbing companies may require more extensive and broad coverage to protect their business against additional risks. Depending on the scope of the plumbing work you provide, in addition to the before mentioned types of coverage, you may also want to consider including:
- Commercial vehicle insurance - If your business requires the use of one or more vehicles, such as a company truck that you drive to and from various plumbing job sites, you will need to invest in Commercial Vehicle Insurance. You will also need to include this type of coverage for the vehicles that you use to transport your tools and equipment to jobs. Many small plumbing companies make the mistake of thinking their personal Auto Insurance coverage will protect them because they use their privately owned vehicles during the course of their work. However, a personal auto insurance policy will not apply to a vehicle while it is being used for business purposes and does not provide adequate coverage.
- Workers compensation insurance - If your plumbing company has one or more employees, you are required by the state of Massachusetts to carry Workers Compensation insurance no matter how many hours they work per week. This will provide coverage for on-the-job injuries, loss of income and job-related illness.
If you have made major investments in the equipment, tools and machinery that you use for your plumbing business, you may also want to consider including such items on your insurance policy. Talk to your agent about adding these items as endorsements to make certain you are adequately protected against loss or damage.
What Is Covered By Plumbers Liability Insurance?
With Plumbing Insurance, you are covered beyond the limits of a general liability insurance policy. This type of coverage focuses on the specific risks of the plumbing profession.
Your insurance agent will carefully evaluate your specific risks to make certain the liability coverage you have will protect you against these risks without any gaps or exclusions. The right coverage will help to reduce your liability risk exposure.
If one of your specialties is working on new projects, you may be held accountable if water lines leak and cause damage to the new construction. This can also lead to damaged building materials and work delays. Depending on the extent of the damage, you could be responsible for thousands of dollars out of pocket if you do not have proper coverage.
When existing plumbing is damaged, you could be held responsible for the cost of repairs. Without the right coverage in place, these costs could be enough to put you out of business for good.
In some cases, plumbers have to work dangerously close to gas lines. This means that there is a risk of explosion, which may result in extensive damage. You will need Plumbers Insurance to protect you against any resulting lawsuits.
As with any business, it is important to make certain you have the right coverage in place from the very beginning. Click on the quote request button now to obtain peace of mind knowing that you will be protected against any unforeseen lawsuits and damages. In addition, proper insurance will provide you with increased credibility in the industry, leading to increased business and a healthy bottom line.