A Plumbers’ Guide to Insurance

Working with water is risky, especially when you consider the damage it can cause and the increased chance of slips and falls it can present. Given the current economic climate, plumbers may look at insurance as an added expense. However, Plumber’s insurance should be seen as an investment that can protect you from unexpected costs that may arise in the future. Whether you are a self-employed plumber, own a plumbing company or employ contractors, it is essential to have the right cover in place. This guide provides an overview of the insurance products you should consider if you are working as a Plumber.

Public Liability

Whilst you will of course always aim to complete a job to the highest standard, all it takes is a poorly installed tap or pipe to cause a flood and damage a customer’s property. If that were to happen, Public liability cover would help with the cost of any compensation that is awarded to the customer. However, it’s not just your customers that could make a claim against you. If the water damage affects a neighbouring property, the neighbour could also make a claim against you. Public Liability Insurance covers you for any third party damage or personal injury that arises as a result of your work, or that of your employees.

Employers’ Liability

Exposure to dangerous materials and asbestos, working with flammable items or working at a height – just some of the dangers faced by those working in the plumbing industry. Of course you will carry out regular risk assessments and promote safe working practices, but Employers’ Liability is a layer of protection for your business in case an employee is injured at work. In addition to paying any compensation owed, Employers’ Liability can also cover the cost of the claim and legal expenses incurred by the business defending the case. You are legally required to have a minimum insurance policy of £5 million. However, you may find your business needs more protection and constructaquote.com can offer premiums up to £10 million.

Van Insurance

As with any type of vehicle, if you have a company van you need to insure it. The type of cover you choose depends on how you use your van and your personal requirements. You can chose third party, which only covers third parties, or full comprehensive cover which can help cover your vehicle in different ways. If you are a larger company with three or more company vehicles, Fleet Insurance is a great way to insure all your vehicles on one policy.

Tools Insurance

As with Van insurance, you can decide the level of Tools Insurance cover you require based on the type of business you are and the kind of tools you want to be covered. Insurance for the tools you are carrying in your van protects the equipment that is vital for getting your work done. Combine both Goods in Transit Insurance and Tools Insurance to safeguard your tools whilst they are in your van.

Professional Indemnity Insurance

Plumbers can produce plans for bathroom refurbishments. If you produced a plan that featured an error which then caused a financial loss to the client, you could be liable even if you did not carry out the work. If you produce designs and specifications as part of the quote process, or on a standalone basis, you should consider

There are additional policies that may also benefit you depending on the type of work you carry out. We’ve discussed the dangers that plumbers are faced with at work in relation to your employees. However, Personal Accident & Sickness Insurance offers financial protection for yourself, in case you are injured or unable to work as a result of an accident or injury in work. An Excess Waiver policy is another product that may be of interest as it covers your excess after a successful settlement of a claim. A Commercial Legal and Tax Policy may also benefit you as it covers legal, tax advice and cover for employment, contract and debt recovery disputes.

The insurance products needed by Plumbers are effected by a whole number of factors. If you’re still unsure, it helps to speak to an Insurance Executive who can explain each product and help you make an informed decision based on your personal requirements. At constructaquote.com we have 30 years’ experience in helping customers get their insurance sorted. For a great service and a competitive quote for your Plumbers’ Insurance, speak to our team today on 08081 68 68 68 or get a quote online today.