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Almost all businesses operate with some degree of risk and this includes plumbing. Some of these risks can include damaging your client’s property, accidentally hurting a member of the public due to a negligent activity, and or having your tools stolen.
Depending on the policy’s terms and conditions, business insurance can help cover your business contents, stock, tools and commercial premises when an insured event occurs (such as fire, storm, theft or even accidental damage). A Business insurance package can also help cover your portable equipment, glass and for loss of revenue due to business interruption in specified circumstances.
In addition, cover is available for public liability, tax audit, employment practices and statutory liability risks.
There are several different business insurance products which could be relevant to a plumber or plumbing business. Below are just a few:
Public Liability insurance* is designed to help provide protection for you and your plumbing business in the event a customer, supplier or a member of the public are injured or sustain property damage as a result of your negligent business activities.
It can help cover legal fees and compensation costs if a customer, member of the public, or a supplier claims against you for personal injury or damage to their property as a result of your alleged negligent business activity.
Portable equipment or general property insurance* can help cover specified items such as your plumbing tools, business equipment or electronic items.
It’s no surprise that working as a plumber can pose risks to your physical body, potentially resulting in an injury which puts you out of work.
Personal Accident and Illness insurance* can help provide levels of cover should you become permanently disabled or pass away as a result of an accident. Cover can also include a weekly benefit for loss of income if you are unable to work as a result of an unexpected injury or illness (even if it occurs outside of your employment).
Accidents can happen even in the most professional and organised working conditions. Should the unexpected happen, this product can cover a portion of your salary** if you’re unable to work due to illness or injury.
Looking for a business insurance policy for your plumbing business? At iSelect we’ve made it easy to compare^ business insurance policies from a range of providers, through our partnership with BizCover Pty Ltd. Get started comparing online or call 13 19 20.
* As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording. The information provided in this article is general only and should not be relied upon as advice.
**Maximum limits apply