Plumbers insurance is a type of contractor insurance policy designed to protect plumbers from many entrepreneurial risks. Although we know that plumbers are responsible enough to manage and minimize the risks involved in their business, it's impossible to remove the risks completely. Plumbers insurance ensures that even if something out of your control makes a mess of things, your plumbing business can survive.
Let’s say, for example, that while you’re on a job, somebody breaks into your vehicle and steals some of your most expensive tools and equipment. Or maybe you slip and fall in a client’s house, causing damage to your equipment. Maybe when you’re absorbed in your work, a client’s kid snuck into the room, somehow managed to get access to a tool of yours that you had safely stored away, and hit their sibling with it? Each of these scenarios could land you in a type of hot water that no trade school could have possibly prepared you for.
This is where having proper plumbing insurance coverage options becomes essential. A well-structured plumbing contractor insurance package that includes tools and equipment insurance, liability insurance, and other protections provides financial support so your business can recover quickly.
Every plumbing contractor should have plumber insurance. While it is impossible to eliminate all risks, it is vital to take the proper steps to protect yourself from unforeseen losses and damages by purchasing insurance for plumbers. Plumbers insurance covers:
Whether you’re an independent plumber or you have a team of employees or subcontractors, your work involves significant risks. There are many risk management tips for plumbers, but the biggest is having the correct plumbers insurance. Plumbing requires you to enter homes and businesses to perform necessary tasks, small and large. It is essential to have plumbers insurance customized to meet your business’s specific protection needs, so you’re covered in the event of an emergency or disastrous situation.
You may be the most dedicated and cautious plumber ever. Perhaps you have been able to eliminate a problem or two by planning ahead. However, problems can still happen. A slight mistake can lead to thousands and thousands of dollars in damages, which could have severe consequences for your personal life and your business.
While plumbers insurance is not legally required in Ontario, it is often mandatory for commercial, government or institutional projects as they require liability insurance for $2 million to $5 million, or sometimes more. Additionally, many clients and general contractors will ask if you have plumber's insurance before you start a project and will ask for proof of insurance or a certificate of insurance.
As a business owner, it's your responsibility to have the correct plumbing insurance, not only to help you acquire lucrative jobs and for clients to have faith in your services, but also to protect your business from possibly crippling financial difficulties. Should you have to pay for damages, medical bills or legal fees out-of-pocket, you may find yourself struggling to recoup those losses.
If you don't have plumbers business insurance and something goes wrong, you could be found liable for medical expenses, legal costs, damages and more. This can be financially crippling for any business owner, and you may find your plumbing business struggling to make ends meet.
Many of your prospective clients are less likely to hire your services if you don't have plumbing insurance. A plumber without insurance is considered far less trustworthy than one with insurance. In fact, some contracts may require insurance before you can begin work.
Plumbers insurance protects you and your business from problems that may occur during your day-to-day operations. Insurance for plumbers should be tailored to protect your commercial property, tools and equipment, inventory, business interruption, business income and more. Coverage applies to worksite loss, a plumber’s work premises, and items stolen from a commercial vehicle used for work.
During your workday, there are various problems that could arise. Say you accidentally break a pipe in a client's home, resulting in significant water damage. Or, perhaps while visiting your worksite, a third-party slips on a wet surface and falls. Both of these situations could result in medical costs and legal expenses that, without insurance, could put your business in the red.
Another coverage nuance that many individuals who work out of their home don't realize is that if you use an outbuilding, such as a garage, to store your tools, this part of your home is not covered by home insurance as it's considered a commercial space.
At Morison Insurance, one of our hardworking brokers will work with you to come up with a comprehensive insurance policy that protects you, your property and your employees from a variety of risks. We will compare plumbers insurance quotes and review coverage options to ensure you have the right plumbers insurance policy in place.
Commercial general liability coverage provides financial protection to your business should you be involved in a lawsuit or found liable for bodily injury or property damage. Plumbing worksites can be full of hazards, and it's possible something could go wrong no matter how diligent you are.
One of the most common workplace injuries is slips and falls. A third-party could very easily check on your work, only to slip on a wet surface or trip over a tool left on the ground. If injured, you could be found responsible for their legal and/or medical expenses.
Also known as commercial building and contents insurance, this policy provides financial coverage for physical loss or damage to your property and its physical contents due to theft, vandalism, or an external disaster such as a fire. Commercial property insurance does not provide financial coverage for general wear and tear.
Similar to personal auto insurance, commercial auto insurance offers a range of protections, including third-party liability that covers you in the event of an at-fault crash resulting in injury to someone or damage to their property, as well as accident benefits and collision coverage. The primary difference is that if you use a vehicle for work purposes, it must be insured under a commercial auto insurance policy, even if you work out of your home.
Equipment breakdown coverage protects your equipment from sudden damage. Equipment breakdown insurance differs from commercial property insurance because the latter only protects equipment that is damaged by external sources, like a fire. If the equipment breaks down due to an internal issue, you won't be covered under a commercial property coverage policy.
Business interruption insurance is coverage that replaces your plumbing business's income in the event it is lost during a disaster. For instance, if your office is damaged in a fire or natural disaster. This type of insurance covers operating expenses, a move to a temporary location, or if necessary, payroll, taxes and loan payments.
As a plumber, your tools of the trade are one of the most important assets you have. Should your tools be damaged or stolen, you need to be able to replace them promptly. This is where tools and equipment insurance comes in. It's important to note that this type of insurance only protects your tools and equipment if stolen while on your premises. It does not cover tools stolen while in transit or in another location, which is why preventing the theft of your tools, equipment, and materials is still important. This coverage can offer contractors equipment floaters to cover tools and equipment that is offsite.
Also known as commercial crime, employee infidelity and employee dishonesty insurance, crime insurance protects your plumbing business from financial losses incurred by various acts of theft, forgery and even fraud. This type of coverage comes into effect if one of your employees commits a criminal act while working for your company. For example, an employee was completing plumbing work in someone's home and they decide to steal a homeowner's jewellery. This coverage provides your business protection from the cost of crime up to the coverage limit.
Professional liability insurance, also known as errors and omissions (E&O) coverage protects you if a client claims you made a mistake, gave bad advice, or failed to deliver professional services as promised, resulting in financial loss. While general liability covers bodily injury and property damage from accidents (like a burst pipe flooding a house), E&O covers claims tied to negligence, faulty workmanship, design errors, or missed project deadlines that don’t necessarily involve physical damage. It can help plumbers handle the legal costs, settlements, or judgments if a client says the plumber’s work or advice caused them a financial problem. This coverage is especially important if you are making design decisions on the job or altering someone else's design to make it work due to unforeseen site circumstances.
As someone who works primarily in your clients' homes, you may not think you need cyber insurance. If you use a computer system as part of your business operations, such as a a CRM system, designing plumbing layouts using CAD, or take payments through online banking from clients, you may benefit from cyber insurance. This policy protects your plumbing company in case you are hacked, and valuable information is lost, such as confidential client information or intercepted client payments.
Talk to your insurance broker to get the right advice about your plumbing insurance quote. Depending on your needs, you might be inclined to protect your plumbing business further by including a few add-on policies, such as Completed Operations, Newly Acquired Equipment, Tenants Legal Liability, Non-Owned Automobile Coverage, Personal or Advertising Injury, and more. Often, comprehensive policies combine many of the above coverages onto one policy to ensure maximum value for coverage.
Working with trusted Canadian insurance providers through experienced commercial insurance brokers ensures you’re getting the best protection available for your trade.
There are many ways your plumbers insurance policy can protect your tools from loss, theft and damage. Different policies offer different protections. For instance, commercial property insurance protects your tools against external threats, where equipment breakdown insurance protects your tools from internal threats. To establish the extent of insurance you need, it's best to speak with one of the qualified brokers at Morison Insurance, who will help get you the right plumbers insurance quote for your needs.
The cost of plumbers insurance can typically range from $650 - $3,000 annually. The price of plumbing insurance can vary significantly based on numerous factors related to your business and insurance history.
Working with an insurance broker who works with the best business insurance companies in Canada can help you get a plumbers insurance quote at a competitive price without sacrificing protection. Contact us today to get started!
There are a range of factors that can affect your plumbers insurance rates. A few of these factors include:
To get an accurate plumbing insurance quote, contact the award-winning brokers at Morison Insurance.
When getting a plumbers insurance quote, it's helpful to prepare by having a sense of what questions your broker might ask. These questions will help your broker understand what coverage is best for you, based on your plumbing company's unique needs. A few questions you can expect your Morison Insurance agent to ask include:
Are you ready to get a plumbers insurance quote? Contact our team today by calling 1-800-463-8074 or by filling out the form on this page.
In addition to knowing what questions your insurance broker will ask, it's also helpful to prepare the necessary information to make the application process as smooth as possible. This should include:
Having this paperwork ready will make it easier to compare insurance packages and select the most cost-effective coverage options.
Our friendly and experienced team of brokers here would be more than happy to help you with your plumbers insurance needs. As a family-owned and operated business, at Morison Insurance, we treat all our clients with that same family-oriented mindset. We truly have your best interests at heart and are dedicated to finding the best coverage for your plumbing business's needs. We'll work with you to establish the right coverage to adequately protect your business from a range of perils.
Our expert commercial insurance brokers will connect you with trusted Canadian insurance providers who understand the unique needs of plumbing contractors.
To learn more about plumbers insurance and to get in touch with our expert brokers, give our team a call at 1-800-463-8074. You can also inquire about a quote online.
