Plumbers are often tasked with installing and maintaining the precious piping systems in homes, leading to the risk of injury or death on the job. It can be a hazardous line of work, so plumbers’ insurance is becoming more and more necessary. What is Plumbers insurance, how much does it cost, and can you purchase it at a price lower than your current policy?
The plumbing problems you want to avoid and the everyday wear and tear that can occur in your home are expensive. Therefore, it pays to take preventative measures and invest in a good homeowner’s policy like plumber’s insurance. Here’s what you need to know to decide if this coverage is right for you.
Plumber’s Insurance Facts –
- What Is a Plumber’s Insurance Policy?
A plumber’s insurance policy is a type of insurance policy that covers the risk a homeowner faces if their plumbing needs to be fixed. It is similar to standard homeowners’ insurance, except it covers damage to your plumbing, equipment, and water supply. The cost of plumbers’ insurance can vary depending on the type of plumbing in your home, location, and how much coverage you want.
Standard homeowners insurance policies typically cover damage to your home and its contents from fire, storm, vandalism, theft and other perils. Coverage can vary based on the state in which you live, but most policies include coverage for your home’s structure, contents and liability. Homeowners’ insurance can also protect you if you are sued because of an accident that occurred in your home.
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- How Much Does Plumbers’ Insurance Cost?
The cost of plumbers’ insurance can be around $50 and upwards, but the average price is $60. The average cost will be based on your home’s location, specific areas that may need to be covered, and the amount of coverage you want. For example, if your home has a water supply and a 2,000-square-foot lot, it may only cover 100 square feet in the event of a water problem.
- Do You Need to Purchase Basic Plumbing Insurance?
Most plumbers’ insurance policies will cover basic plumbing needs. Still, there may be cases where your plumbing is not covered, or your lack of coverage exceeds the coverage offered by your policy. It is where it’s good to discuss all of your plumbing options with a licensed insurance professional.
- Does My Home Need Plumbers’ Insurance?
Homeowners who want to take care of their plumbing repairs can also take a few steps to look after their home from other disasters like fires and floods. For example, homeowners who have had a fire in their home know that an insurance adjuster will likely come to the site, whether or not there was a plumber at the scene.
Most municipalities require Plumbers insurance to obtain a permit before they can work on the services. The reason is that without this permit, they’ll be liable for any damage that is incurred on the property.
