The trouble with plumbing is a good job is unnoticed behind the scenes – but a bad job can cost thousands in repairing water damage.
The best plumbing insurance typically comes from a knowledgeable broker who can tailor make a package to suit your business.
As a busy tradesman, going to a good broker can also save time as well as money.
Here’s six key points you need to consider when buying plumbing insurance:
- Public liability – this safeguards you from claims from anyone other than employees who comes in to contact with your business who is injured or suffers a loss or damage relating to your work.
- Employer liability – much the same as public liability, but a legal requirement if you have anyone working for you
- Product liability – looks after claims from anyone relating to products you have supplied, like boilers, heating pumps, sinks, showers and water storage tanks.
- Protection for tools, plant and equipment – Plumbers can accumulate a large number of expensive, specialist tools. If they are lost or stolen, you may need a quick replacement to continue a job. This cover looks after these claims.
- Van insurance – A van is your portable workshop, with all the tools, equipment and stock you need for a job. Losing the vehicle and contents could cost thousands and take weeks to replace.
- Home as office – Many plumbers have a computer and other office equipment at home to manage the business and may keep stock or tools in a secure garage or store shed. Standard home insurance cover will not meet business claims, so make sure you have adequate cover.
Besides these key points, all the warnings about buying the right plumbing insurance apply – check that your business needs fall within the policy exclusions, claim limits and if any excesses apply.