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.
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 an Plumbing 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.
Physical harm to a person at your place of business, or an injury caused by your employee at a client’s site.
Losses after your business has completed work for a customer (such as repairing appliances or installing wiring), or from distributing products.
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.
Losses caused by your advertising (spoken or written); for example, an ad that trashes a competitor.
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.
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.
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.
Financial losses of the claimant, plus additional monetary losses resulting from the claim.
For intangible losses (“”pain and suffering.” “mental anguish,” etc.)
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