Plumbing Insurance in Maryland
Many people in Maryland depend on local plumbers for prompt and efficient services. If it's late at night or a weekend, plumbers providing emergency service are there to take care of major and minor plumbing concerns. Whether it's a drain not working or leaky pipes, you can count on your plumber. This profession can be highly rewarding and yet with great rewards also come great risks. The right plumbing insurance is not a luxury in this business. It is a necessity, and here are some good reasons to have the right coverage in place.
A local plumber near Bel Air specializes in drain services, and Fred B was one of their top technicians. He managed to generate more than twice the business as the others workers. However, the reason for Fred's success became apparent when the owner of the plumbing business was sued for deceptive business practices. This created both legal and reputation problems for the company. Thankfully, their plumbers insurance included fidelity bonds to protect against employee dishonesty.
A plumbing contractor installs a new hot tub for a local customer in Long Green. Six months later, the plumbing leaks behind the wall. This eventually rots the flooring and creates a dangerous mold situation which costs thousands of dollars to repair. If this contractor did not have errors and omission coverage (as part of his plumbers liability insurance) he would have been responsible for all damages.
On the way to a job site in Jarrettsville, a plumbing contractor's truck collides with a car at an intersection. This destroys a brand new HVAC unit worth thousands of dollars. It's a good thing the company had taken out an installation floater on the project, or this would have been a major loss.
Plumbing Insurance - What Exactly is This Coverage?
This insurance covers all the different risk factors a plumber can encounter and without it, one incident could be enough to put the plumber out of business.
What Businesses Should Have Plumbers Insurance?
If your business provides plumbing services you have special risks. Whether plumbing is your specialty or just a part of the services you provide, you should have this insurance. This includes the following businesses:
- Plumbing contractors
- Local plumber services
- Drain cleaning services
- HVAC contractors
- Sewer and septic tank companies
- Water and fire restoration services
- Landscape contractors
- Home improvement contractors
- Construction contractors
- Home improvement centers (who supply plumbing installations)
- Swimming pool contractors
Basic Coverage for Your Business
To start with, you should consider these insurance coverage options:
- Business property insurance
- Commercial vehicle coverage
- Workman compensation
- Liability insurance
How Important is Plumbing Liability Insurance?
Plumbers liability coverage is essential if you want to protect your business assets and financial interests. It can include:
- Errors and omissions - protects you from issues like installation mistakes.
- Fidelity bonds - covers acts of employee dishonesty including theft, forgery, computer fraud, and dishonest business practices.
- General liability - protects your property from things like slip and fall injuries.
- Contractor equipment liability insurance
- 3rd party contractual liability
Plumbing Insurance Options
An experienced independent insurance agent is there to help you determine your risks and show you the most affordable ways to cover them. Here are some of the coverage options you might need.
- Performance bonds - sometimes required for plumbing contractors. Bonds assure you can begin and finish a specific project.
- Equipment breakdown coverage
- Installation floaters
- Course of construction insurance
- Inland marine (cargo) insurance
- Sewer backups and flooding
- Loss of income
- Umbrella insurance
- Group life insurance
- Cyber liability coverage
Insuring Your Plumbing Business and Getting it Right the First Time
When you insure your business, it's important to have everything covered now, because you might not get second chances. This is why you need insurance and American Insurance and Financial is there to make sure you get the right coverage with premiums you can afford.
Why American Insurance and Financial in Maryland?
When you come to American Insurance and Financial you receive a great deal of benefits. For example:
- An independent insurance agency - we can sell you insurance from some of the best available companies.
- Education - before we sell you a policy, we educate you on the kind of insurance you are purchasing. For example, we can show you the difference between plumbers liability insurance and general liability. This helps you get the best coverage for your money.
- Insurance comparisons - you won't have to check with a lot of different insurance companies to compare coverage and premiums. We do that for you.
- Affordable coverage - our agents check out the most affordable options for you. We know about available discounts which save you money.
- Certificates of insurance
- High standards of excellence - you can depend on the people at American Insurance and Financial to treat you in both a personal and professional manner. We care about our customers and it shows in the honest and dependable services you receive. Our goal is to reduce your insurance costs and cover any gaps you may have in your coverage.
To get a free quote on your plumbers insurance, just visit the free quote section on this page, enter your zip code, and click "find quotes". We are here to take care of the rest. For more info, please call 1-800-310-8478.