Our guide to plumbing business insurance.

Whether you’re a solo entrepreneur or have a team of plumbers working for you, it’s crucial to have financial protection for your business. Plumbing business insurance is coverage that every plumbing contractor should have.

Let’s take a look at the hazards plumbing businesses face and how the right business insurance helps owners manage unexpected expenses and stay focused on their work.

Why do plumbers need business insurance?

Plumbing businesses have to contend with many risks, including employee injuries, property damage, lawsuits claiming faulty work, and more. That’s a fact familiar to most owners.

Some plumbing companies go months, years, or even decades without an incident. Others experience multiple incidents over the course of a few months. Unfortunately, there’s just no way to predict when problems will occur. That’s why plumbing business insurance is important for plumbers and must be active before they start doing jobs for clients.

It’s understandable to think your skill and commitment to quality will protect you and your business, but accidents happen to even the most careful plumbing contractors. Plus, there are potential incidents that are outside your control. For instance, there’s no way to prevent a storm from damaging the warehouse where you store equipment and supplies.

The reality is that you don’t want to expose your business to costly risk. That’s why, for plumbers, business insurance that addresses a wide range of risks is essential.

Understanding the types of plumbing insurance coverage.

Insurance companies provide plumber’s business insurance in different ways, including as separate policies for different risks. At THREE by Berkshire Hathaway, our all-in-one-coverage combines several types of insurance for plumbers into a single, comprehensive policy

In fact, small businesses won’t find more coverage in a single policy from any other provider. We cover claims resulting from a wide range of incidents, including:

Employee injuries

Imagine your employee is working in a client’s basement. They slip, fall, and break their wrist. Workers’ Compensation insurance, which can be included in your THREE policy, can pay for employee costs related to injuries, including medical bills, rehabilitation costs, and even a portion of lost wages during recovery. If a worker dies on the job, their family can receive a death benefit. Workers' Compensation coverage is not just good for workers, it also protects owners from unexpected costs and is required for nearly all businesses with employees.

Mistakes

General Liability insurance is included in a THREE policy. This type of plumber liability insurance can pay costs related to honest mistakes that cause financial harm to a client. Let’s say you install a plumbing system and accidentally misalign one of the pipes, causing a leak that damages the client’s bathroom walls and floor, and the client sues. Your General Liability insurance can cover what are called “completed operations” and pay court-awarded damages, settlements, and the cost of your legal defense

Theft of business property

This feature of your THREE policy can provide payment if someone steals company property. For example, if you arrive at your storage warehouse one morning and find someone has broken in and taken all of your tools and equipment. That loss can be covered.

Property damage

Lightning strikes a tree on your property and the flames spread to your office building. In a scenario like this, the Property insurance in your comprehensive policy can pay to repair the structure and repair or replace the damaged furniture and office equipment.

Employee theft

Despite your best efforts to hire honest people, theft can happen. If one of your employees working at a client’s home steals a valuable piece of jewelry, Employee Theft coverage can pay related costs.

Commercial auto damage and liability

Commercial Auto insurance covers vehicles your company owns or leases. It can pay related costs if someone driving your vehicle is at fault in an accident and the other party sues. It can also pay to repair damage to your vehicles from accidents, vandalism, or other covered incidents.

Cyberattacks

It seems like the threat of cyberattacks is continually growing. To combat it, business owners have to do what they can to protect their computer networks and devices. Still, you can’t completely eliminate the risk of someone gaining unauthorized access to your systems, stealing sensitive information, and using it to commit fraud. Cyber insurance in a THREE policy can pay specified costs related to a cyberattack.

The advantages of an all-in-one plumbing business insurance policy from THREE.

Our comprehensive plumbing insurance benefits owners in many ways. One is that you save time and effort when researching coverage. It only takes a single quote to get a policy with wide-ranging coverage.

Second, our all-in-one plumbing company insurance policy delivers broad protection from risks plumbing businesses face. THREE offers more coverage for plumbers in one policy than any other insurance provider. More coverage means less unexpected risks for owners.

Another benefit is that it’s easy to keep your coverage up to date. If your business grows or changes, a quick call to THREE is all it takes to find out if you need to adjust your policy limits.

Finally, THREE has the experience and resources plumbing business owners are looking for. If you ever have to file a claim, you can be confident it will be handled professionally and fairly. And if the claim is approved, we’ll pay you promptly so you can get past the incident and turn your focus back to running your plumbing business.

Who needs plumbing business insurance?

Plumbing insurance coverage is essential for any professional in this industry, from independent contractors and solo entrepreneurs to established businesses with large teams of plumbers. Whether you specialize in residential repairs, new construction, or commercial installations, the right insurance for plumbers protects your business from the significant financial risks you face. This coverage is crucial for businesses at all stages of development, including new ventures and long-standing, family-owned companies.

Why plumbing business insurance from THREE is right for your small plumbing business.

Business owners researching insurance for plumbers sometimes ask if our policy is right for them. Each company’s needs are unique, but in general, the answer is yes, THREE is right for most plumbing businesses.

Because a significant financial burden due to not having adequate insurance can be particularly devastating to self-employed plumbers and small plumbing business owners, many of them choose THREE. They like that we are a reliable business insurance provider that makes it easy to get the crucial coverage they need to protect their companies financially and ensure business continuity. Being adequately insured also enhances their professional credibility with clients.

Plumbing business insurance for subcontractors.

THREE also provides business insurance for subcontractors who work under larger firms. Having coverage means you’re ready to meet contract requirements whenever someone hires you for a project.

Even if you are doing work as a subcontractor for an insured business, you will likely still need to carry your own plumbing contractor insurance, as that gives you confidence that you're protected and demonstrates your professionalism to industry peers, business partners, and clients—whether they are property owners and managers, landlords, homeowners, or others.

Factors that affect plumbing company insurance costs.

Multiple factors affect the final cost of a plumbing insurance policy. The size of your operation (including your total number of employees and annual revenue) plays a significant role in calculating your premium. Insurers will also consider your location, the specific types of plumbing services you offer, and your business's claims history. Finally, the specific coverage limits and deductible amounts you select for your plumbing insurance coverage will directly impact your overall plumbing insurance cost.

How to get plumbing contractor insurance.

Getting the right plumbing business insurance for your business is simple. First, you should research the specific coverages your operation needs, then gather and compare policy quotes from various providers. After selecting the policy that best fits your requirements and budget, you can complete the application and purchase your coverage.

THREE makes this process fast and convenient by allowing you to learn about our comprehensive policy, get a quote, and secure your insurance all in one place online.

The importance of reliable plumbing insurance coverage.

Plumbers understand the value of having the right tools. When it comes to their financial protection, insurance is an indispensable one. We make it easy for plumbing business owners and independent plumbers to get the all-in-one policy they need to face their business risks with confidence. And we support them with attentive customer service and a proven claims process.

If you have questions about insurance for your plumbing business, our friendly and knowledgeable small business advisors are also happy to talk with you about your needs. Contact us at 1-800-507-4495, Mon.–Fri. 8am–9pm ET. In addition, you can request a Certificate of Insurance, find helpful resources, and get answers to frequently asked questions on our website.