Being a plumber takes a lot of training, skill and time; so does being a business owner. I do encourage everyone to educate themselves on the types of insurance they need for their business. Chances are, you are not an expert.
Even with training, I would not have the skills to be a very good plumber, but I do know insurance. Your focus should be on growing your business and keeping your clients happy; while our focus will be on providing you with the necessary insurance coverage to keep you safe and give you peace of mind.
If you are just looking for a quote, feel free to call us at 937-643-0081, or contact us here online. However, if you would like a little more education on basic coverage, keep reading!
Basic Insurance Coverage for Plumbers
Property
Property insurance for plumbing companies is very important. Your people may be handy and able to remedy a lot of issues that come up. However, as a business owner, you understand how big of an investment your building is; an investment that is too important to not have insurance to protect it, should the worst happen. Even if you do not own the property, it is still important to cover your business personal property. This is includes tools, office equipment, furniture, electronics, etc.
Liability
Not having liability insurance or not having enough coverage could lead you to lose your business and all that you have worked so hard for. Liability does protect your office, but did you know that it will also protect you/your employees when at the home or business of your clients?
Even though the people in your office are professionals, they are still human and can make mistakes. If they mistakenly knock a valuable item off a client’s shelf and break it, or if they fall off a ladder and break a bone, your liability insurance will cover it.
If your employee completes a perfect repair job, and damages were to occur, you may still be blamed (even if it was not the fault of your business/employee) and your liability insurance will cover you.
If you are not sure about how much coverage you should carry, contact your agent or you can call us to discuss at 937-643-0081.
Income
One of the many insurance coverages often left out of an insurance plan is business income coverage. As a business, isn’t it one of the main goals to continually produce an income? Many plumbing companies cannot afford to be shut down for long periods of time, which is completely understandable.
What would happen if a tornado stormed through your city, severely damaging or even destroying your building? Yes, your property insurance would cover the damages, but what about the loss of income from your doors being closed; how would you pay your mortgage, payroll and taxes?
Depending on how long the doors are closed, most could not keep their business.
A Customized Insurance Plan for your Plumbing Company
It is easy for me to generalize coverage in a blog, but it takes much more than that to be properly insured. Just like in your line of work, there is not one cookie-cutter solution to the problem.
Would you be able to do your job to the best of your abilities if you knew nothing about your client’s current needs? Likewise, we need to understand your needs to that we can work in the most efficient and effective way.
Give our office a call! We will connect you with one of our top agents to assist you and answer any questions you have about the coverage you need to insure your business properly.
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