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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:
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.
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:
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:
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.
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.