Plumbers & Plumbing Company Insurance - Texas

Including: Arlington, Burleson, Mansfield, Midlothian, Fort Worth, Keller, Southlake, Grand Prairie and Cedar Hill, TX

All Texas Plumbers and Business Owners - Begin Your Free Insurance Quote

 

The Matthews Insurance Group is an expert, full-service commercial insurance agency that can help businesses of every shape and size protect themselves and their commercial assets in case problems arise. Don’t hesitate to call us at (817) 563-5555 for more information.

What is plumbers' insurance?

A plumber runs a very in-demand business—they might get a call at any time to repair burst pipes, leaks or drainage clogs. They need to be able to respond appropriately and professionally, so they can’t afford to let hazards or accidents get in the way of their success. Various types of commercial insurance can help them afford the costs of recovery should a problem ever arise.  

What are the benefits of having insurance?

The right insurance can help plumbers get assistance with problems that could arise at any moment, in any part of their work. Being able to cash in on the policy ensures that they can get on with their jobs without having to worry about limitations and losses posed by ongoing problems. The business owner therefore creates a protective cushion for themselves, and can ensure their long-term success.

What types of insurance do plumbers need?

Plumbers need various types of commercial insurance. Policies applicable to their operations include:

• Business Owners Policies (BOPs) A BOP is an insurance package that contains several of the most essential types of coverage that all businesses might need. They usually contain:
• Property insurance: Coverage will pay for damage to your business property and contents should incidents like fires, storms or theft cause losses.
• General liability insurance: Coverage helps business owners cover the legal costs and settlements that might result if they cause injuries or property damage to a third party. Policies usually include completed operations insurance, which pays in cases where your work fails after you finish it, and you have to pay as a result.
• Business interruption insurance: If a problem causes you to cease or partially halt operations for a period of time, coverage can help you recover the income lost during this time.
• You can often add other coverage (cyber liability, personal injury, advertising injury) into the BOP. You can also tailor the limits and deductibles of each policy element to fit your operational needs.
• Plumber Errors & Omissions Coverage If your work proves faulty, it might cause harm to the client. Suppose that, after you repair a simple leak, the pipe winds up bursting and causing a flood in a client’s home. Your general liability insurance might cover damage to the rest of the property, but it won’t apply to the pipe damage itself. Because the pipe damage was an error on your part, an E&O policy can help you cover the costs of the repairs to that job.
• Inland Marine/Builders Risk Insurance Inland marine insurance is a policy that will insure your business assets (and assets in your care) when you transport them to work sites. So, if you transport tools, equipment and fixtures to a property to replace a sink, this coverage can insure those assets. Inland marine policies usually contain a type of coverage called builders risk insurance which applies to materials used on construction sites.
• Commercial Auto Insurance A commercial auto policy’s limits and conditions will address the business’s cost risks involved in owning or operating vehicles. Plumbers have to travel to do their jobs, so most will need this coverage. Policies offer liability, collision, comprehensive, un-/underinsured coverage and more.
• Workers’ Compensation With a workers’ compensation policy, you can indemnify employees for medical costs, lost income or related expenses if they get injured or sick as a result of their duties. Texas doesn’t require businesses to carry workers’ comp insurance, but it does allow injured employees to sue the business if they can’t make a claim. Having coverage is always an easier option.
• Surety Bonds Should you fail in your work, as defined by a contract, a surety bond will guarantee that you will provide a payment to your clients. It’s not insurance proper; it is just a promise you will pay. You will either pay the client yourself, or the company issuing the bond will pay on your behalf, and you will repay them.
• Commercial Umbrella Insurance An umbrella policy can add extra coverage limits on top of the limits of your existing liability policies. If a claim ever exceeds your standard coverage limits, umbrella insurance can provide additional payment. So, if your liability insurance pays a maximum of $100,000 for property damage, but you have to pay a $500,000 settlement, liability coverage might help you pay the remaining $400,000.

How much does insurance cost for a plumber?

The costs of your insurance policies will vary based on numerous factors. These might include:

• The number and value of claims you have filed on previous policies.
• The types of policies you buy, their limits and deductibles.
• The size of the business.
• The number of workers you employ.
• Your credit history and company age.

Your insurance agent can help you select the appropriate coverage limits so that you never pay too much for coverage you won’t realistically use. They can also help you save money through bundles, discounts, higher deductibles, risk management and other incentives that can reduce your premiums.

Is plumbers insurance mandatory in Texas?

The Texas State Board of Plumbing Examiners requires general liability insurance for most master plumbers. The insurer must carry at least $300,000 in bodily injury and property damage coverage.

Does plumbers insurance cover my employees?

Your policy will usually cover mistakes made by your employees in the course of their work. However, if you are a sole proprietor who plans to hire employees, you will need to talk to your agent about expanding your coverage. They will know how to make the appropriate changes to your portfolio.

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All Texas Plumbers and Business Owners - Begin Your Free Insurance Quote