General Liability For a Plumber – Plumbing Contractors Insurance Policy
Plumbers General Liability Insurance. You can usually make an offer on a project without insurance, but when the time comes to perform it, you’ll need it. Chances are that when it comes to the time the work is going to be performed that you will need to produce proof of insurance to unpack your tools and get to work. If it is not the homeowner or the business owner, it may be the building owner or the local government that steps in with requirements.
How Much Does Plumbers General Liability Insurance Cost for A Plumbing Contractor?
The insurance costs for plumbers varies based upon the amount of liability you need and the type of work you perform. It is not unusual that home or building owners would require at least $1,000,000 in general liability insurance for a plumber to get your foot in the door.
- When Castle Rock quotes a plumbers general liability insurance policy we will offer you several payment plans that should accommodate your budget.
- We will offer you options to keep your initial payments low, especially if you are a new company with limited capital resources.
- Typically, companies offer payment plans that allow you to pay off the policy over the course of the year in 9 or 10 payments after a deposit.
Plumbing Contractors & Artisans Insurance Policy Coverage
Commercial General Liability Insurance (CGL) is the focus of a slew of law suits. Accordingly, there are many things you need to know about securing a Commercial General Liability Insurance Policy for anPlumbing Contracting Operation. Although this coverage helps to protect you and your company’s assets by providing a layer of defense against several types of suits including negligence, there is a lot to know. That is what your Castle Rock Agent is here for. By covering the cost of defending or settling these claims and the award that may be handed down to the claimant, your Plumbers’s General Liability Insurance policy can help you keep your business in business.
Plumbers General Liability Insurance Coverage:
General Liability Insurance For a Plumber usually covers Five basic categories of business liability:
Bodily Injury
Physical harm to a person at your place of business, or an injury caused by your employee at a client’s site.
Completed Operations/Products Liability
Losses after your business has completed work for a customer (such as repairing appliances or installing wiring), or from distributing products.
Personal Injury
Damage to the reputation or rights of a person or business due to slander, libel, copyright infringement, invasion or privacy, false arrest, wrongful eviction, etc.
Advertising Injury
Losses caused by your advertising (spoken or written); for example, an ad that trashes a competitor.
Medical Payments
Pays the medical expenses of a person injured on your premises (a customer, client, visitor, or even a trespasser) up to a stated amount, regardless of fault — as a goodwill gesture to prevent lawsuits.
Independent Contractors Liability
Damage from the acts of an independent contractor hired by your business.
For Plumbing Contractors the above insurance coverages are usually sufficient.
For GENERAL CONTRACTORS, the one coverage typically NOT INCLUDED, but perhaps the MOST IMPORTANT is the following.
Injuries to Sub Contractors Liability Coverage
If you are a General Contractor and sub out Plumbing Work and Don’t Have it or never heard of it you need to call us immediately.
Damages Covered Your Plumbers General Liability Insurance Policy will pay three types of damages:
Compensatory Damages
Financial losses of the claimant, plus additional monetary losses resulting from the claim.
General Damages
For intangible losses (“”pain and suffering.” “mental anguish,” etc.)
Punitive Damages
Penalties against your business for committing a wrongful act.
Exclusions: Although Commercial General Liability Insurance provides a wide range of protection for your business, it won’t pay liability claims related to these areas (which you can cover with other policies):
On-the-job injuries to employees Workers Compensation
Operating autos or trucks in your business Business Auto Policy
Performing, or failing to perform, professional services Professional Liability Insurance, Errors & Omissions
Acts as a corporate director or officer Directors & Officers Policy
Pollution and Environmental Liability
Products, such as light fixtures, appliances are subject to recall. The General Liability Insurance also excludes coverage for losses related to war, terrorism, or nuclear events. However it is available separately on a Products Liability Policy
