Trying to find the right plumber insurance at the right price can be a wrench for the wallet.
Plumbing is one of those jobs that can lead to a massive claim for compensation if a pipe springs even the smallest leak.
And if the job is on commercial premises and is proved to have caused a shutdown or loss of business, the bill can be sky-high.
Choosing the right plumber insurance means stepping back and looking at the business and the sort of work generally carried out.
Many plumbers like residential work, while others specialise in bigger commercial projects.
Work out where your revenue comes from and target the risks associated with that work for plumber insurance cover.
Don’t forget the insurer will want to know you are properly qualified for the work the business carries out – especially if hazards like oil or gas are involved.
Now’s the time to start looking at quotes and the cover offered by different insurers – but forget the price, for now, it’s the quality of cover, not the cost that’s important to a business.
Most plumber insurance will include:
Public liability cover is optional but not necessary. If a plumber is blamed for damage, accident or injury arising from poor workmanship, the compensation and related legal costs can be enormous.
Employer liability looks after the same risks for anyone on the payroll – and is a legal requirement for a business with employees
Other add-ons depend on the size of the business and how it is run.
Standard home insurance does not cover a plumber with an office and storage at home. Insurers will reject any claim if the business does not have dedicated cover
Consider tool cover to safeguard specialist and expensive equipment against loss, damage or theft on or off-site – but not when stored at home or business premises or left in a van overnight
Plumbers should also bundle in goods in transit cover to business insurance packages to protect materials and equipment carried for customers or main contractors.
Other options may apply, especially if you run a large business from commercial premises or a yard.
Now, you should have a shortlist of suitable policies, so look at the price and go for the one offering the best value for money cover.