While the plumbing service has many benefits, it can also be quite hazardous. Of course, no one wants to get injured from leaking or bursting pipe. But, then, it can be problematic when you find that your insurance doesn’t cover what you need it to. Even worse is when someone in your family gets injured while you’re unable to get help because of these issues.
These are just some of why many companies and organizations require plumbers to have liability insurance (PLI). Plumbers should have different kinds of Plumbing insuranceto ensure their liability insurance is not affected.
1. Worker’s Comp Policy
First, they need a worker’s comp policy (WC) to protect themselves and their clients. This policy covers you and your employees if you get injured. It also covers those who fall due to injury or illnesses which may happen during the job. The WC covers medical bills and any work that was done while you were injured or ill.
2. Employer’s Liability Insurance (PLI)
This type of insurance protects the company if someone gets injured on the job. If you’re in charge of a large company, you must have PLI to ensure that no one can sue them for injuries.
3. Contractors Insurance
If you are a general or plumber contractor, you need contractors’ insurance. This policy covers the contractor if they have any issues with their employees, contractors, or customers. In addition, contractors’ insurance protects your business if another company insures it.
4. Property Damage Coverage (PDC)
This type of Plumbing insurance covers all damage to property incurred by a company’s employees or contractors. It can cover work done around the house that was not paid for and third-party damages and injuries. The policy is good for three years and can be extended up to five years for an extra fee.
5. Automobile Insurance (GY)
This type of insurance is necessary for people who own a business and drive their clients to their homes or jobs. It helps protect the driver and the company in case of an accident because if you cannot go due to an injury, your business cannot run normally.
It isn’t easy to run a business because you have so many different laws and regulations that you need to follow. Many people don’t realize how difficult working in the plumbing industry can be. It takes enormous effort to get your business up and running. In addition, if you are not doing well financially, some legal issues may come up that could affect your business.
