As a plumber, you work outside of a traditional office most of the time. In fact, your work usually takes you into some of the most private places of the home. Clients rely on you to complete their work in a safe, sanitary and thorough manner. There’s very little room for error, after all.
However, if you run a plumbing business, you can’t be everywhere at once to ensure perfection. There’s always a chance that you and your employees could make mistakes, even innocent ones. When this happens, it might damage a client’s property. As a result, the company might have to pay up. Therefore, buy effective levels of liability insurance. A couple of different types might help you.
Insuring Yourself Against Property Damage Risks
Most businesses carry some form of liability insurance. It protects the business in case it causes damage to third parties. In other words, if someone in the business does damage to one of your clients, you might owe them money. Your liability coverage can often step in to cover such situations. It might reduce how much you have to pay out-of-pocket to cover the damage.
Let’s take a look at this in the case of a plumbing business. You might accidentally break a client's window when you are unloading your equipment. Or, a mistake while completing the job might lead to a burst pipe that causes water damage to the house. Should these accidents, or anything between happen, the property owner might hold you responsible.
As a result, a couple of different liability policies might help you:
- Property damage coverage might protect damage you cause during the course of work. For example, if you break that window, this protection might help you pay to replace it.
- Products-completed operations insurance can cover problems that happen after you finish the job. Let’s say that pipe bursts a couple of months after you finish your visit. The accident is traceable to your work. You might be able to use this protection to compensate the client.
Your liability coverage might cover repairs and other settlements. It might also cover your legal costs in case a client sues you. Nevertheless, remember that every policy will likely have limits and exclusions. So, you shouldn’t choose a policy at random.
Work with your agent at 925.429.8811 to determine the appropriate liability protection for your business. You can likely add much more coverage than just property damage liability protection. Therefore, make your coverage wide-ranging, and you’ll likely reap the benefits if you need to make a claim.
Also Read: 5 Types of Contractors Insurance for Handyman Services