Just like any other businesses, plumbing businesses can be affected by different risks, including accidental damage, negligence, work accidents etc. It is important to cope with these hazards in order to protect your business and avoid dealing with downtime and losing your resources.
There is a broad range of plumbing insurance Colorado policies offered to keep you covered, so you can choose what`s best for your needs and budget.
These following policies are particularly relevant to plumbing companies:
General Liability Insurance
General liability helps you deal with accidental damage or injury to third parties (as well as third-party property!), by providing funds to cover legal fees, settlements, medical payments etc.
Commercial Property Insurance
This insurance protects the value of your commercial property if it is damaged or destroyed (common perils: vandalism, fire, water damage, explosion etc.). You will get coverage for buildings that belong to or are leased by your company, as well as for plumbing equipment, tools, supplies and other contents of the buildings.
Workers’ Compensation Insurance
This is another type of insurance legally required in almost all states, and also particularly important for plumbing companies. No matter how well-trained and informed workers are, plumbing is an activity with a high risk of injuries. Workers comp provides coverage in the event of a work-related injury/ illness and also ensures financial benefits to surviving dependents if a worker dies in a work-related accident.