As a plumber, you probably already know a lot of the ways that a plumbing job can go wrong. When that happens, having the right insurance policy can carry a lot of weight and help you avoid throwing a lot of money away, since your insurance will act as a buffer against the legal liability and the costs you’d otherwise be burdened with.
Basic plumbing insurance shouldn’t normally cost you too much. It mainly includes general liability and some type of vehicle insurance to insure the car or truck you use to travel to the locations where your services are needed. General liability will likely be slightly more costly, as it has the role of protecting you from lawsuits and financial issues in case there are any accidents or mishaps that might occur while you’re doing your work.
If you want additional plumbing insurance Colorado coverages for your plumbing business, you can also opt for a business owner’s policy (BOP), which is basically an extension of your plumbing liability insurance, dding coverage for commercial building or personal property.
Finally, worker’s comp is also a must if you have employees working for you to get the job done faster. With worker’s compensation insurance, you get additional coverage for employees who hurt themselves on the job and need compensation for lost wages or medical bill payments that they can’t support.