Ontario Plumbers Insurance
Ontario plumbers insurance is a necessity for any contactor providing plumbing services. Plumbers insurance covers residential and commercial plumbing contractors, pipefitters, septic tank installers, builders, renovators, and others.
Whether you are an independent plumber or you have a team of employees or subcontractors, your work involves significant risks. Your job 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’ specific protection needs.
What is Plumbers Insurance?
Plumbers insurance protects you and your business from problems that may occur in the work you do. Your plumbers insurance needs to include commercial general liability coverage. Commercial general liability insurance provides financial protection to your business should you be involved in a lawsuit or found liable for bodily injury or property damage.
Insurance for plumbers should be tailored to protect your commercial property, tools, equipment, inventory, business interruption, business income, and more. Coverage applies to a worksite loss, a plumber’s work premises, and items stolen from a commercial vehicle used for work. (Note: A commercial auto policy only covers the vehicle itself, not contents) There is coverage available for crime, and not just for theft and vandalism, through a plumber’s contractors liability policy.
Who Needs Plumbers Insurance?
Every plumbing contractor should have plumbers 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.
You may be the most dedicated and cautious plumber ever; however, problems can still happen. A small mistake can lead to thousands and thousands of dollars in damages, which could have severe consequences for your business.
Many clients will ask if you have plumbers insurance before you start a project. Clients will likely be more confident knowing your business is insured. Also, if you work as a subcontractor on a project or job site, many general contractors will ask for proof of insurance.
If you are bidding on government, institutional, or commercial contracts in Ontario, having liability insurance is mandatory. Usually, commercial general liability insurance of $2 to $5 million – in some situations more – is required for these types of contracts.
Additional Plumbers Insurance Coverages To Consider
- Equipment breakdown coverage
- Business interruption insurance
- Loss of business income protection
- Building(s), contents, including computer and software, coverage
- Tools, equipment, and inventory coverage.
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