Like all businesses, plumbers require insurance to cover them for natural hazards, such as liability, equipment theft and business car insurance. While a specialist plumbing insurance company would be ideal, it may be difficult to come by, and like most other businesses, a comprehensive insurance portfolio means buying a few business insurance policies. Fortunately most of these can be purchased from a single insurer.
Plumbing business insurance for liability
Protecting plumbers from claims of damages and personal injury from third parties, liability cover can be taken out as a standalone policy. This covers things such as claims of poor workmanship and medical damages should anyone become injured as a result of the plumber’s negligence. Such claims of negligence fall under a general liability insurance policy.
While claims of personal injury by employees can be covered under an employer’s liability insurance policy, they are usually covered under workman’s compensation. The company must pay into this on behalf of its employees in order for it to be covered under such circumstances.
Plumbing business insurance for equipment
Given the high value of plumbing equipment, it should be covered under an all risks insurance policy. An all risks insurance policy will cover the equipment when at the office, in transit and at site and usually for theft and accidental damage. It is beneficial to cover it under such a policy and not merely a business contents insurance policy as the equipment is movable.
Equipment insurance also covers mechanical and electrical breakdown as a benefit (depending on the insurance company). This means repairs to expensive machinery are taken care of by the insurer.
Plumbing business insurance for cars
As most plumbing businesses require a car to operate, it should be included in your business insurance portfolio. If the car is in a private individual’s name but used for businesses purposes, it might have to be insured under that individual’s name for business purposes. Otherwise, the vehicle must be insured under a business car insurance policy.
Insuring the vehicle under a private insurance policy for personal use, even though cheaper, will lead to claims being rejected. If the insurer believes that they have been misinformed of your material risk to them, they can repudiate claims on the grounds of nondisclosure.
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