Business Owners Insurance Policy for Plumbers
Your plumbing business is performing essential services that almost everyone needs. Even though you’re doing great work, there’s always a level of risk when it comes to running a company that could lead to financial problems or reputation damage. To help mitigate those risks, PolicySweet® has created a comprehensive Business Owners Policy for plumbers to help protect the most important aspects of your company and help you continue to operate if something goes wrong. Read on to learn more about BOP, what it includes, and how to get started.
Do Plumbers Need Insurance?
Plumbing businesses should strongly consider getting comprehensive insurance plans to protect their operations. This industry can come with its own unique challenges, like dealing with extensive labor, operating in small spaces, and working on other sites. Having protection with a BOP can help you mitigate the risks and obstacles that come from running a plumbing business.
Who Needs Plumbing Insurance?
Most plumbing businesses could benefit from having insurance. In general, a company that owns tools, stores customer data, works on other people’s property, and other similar situations may want to consider getting some type of plumbing insurance. These types of policies can protect your organization and employees in a variety of situations, and help you rest easy and continue to operate should something happen.
How Much Does Plumbing Insurance Cost?
There’s no standard cost for insurance for plumbers, including a Business Owners Policy, because so many factors affect premium rates. Your premiums can vary depending on where you operate, what services you offer, and how many employees you have. To find out what plumbing insurance costs, get a quote from PolicySweet®.
What Types of Coverage Are Included in a Business Owners Policy?
When you get a Business Owners Policy from PolicySweet®, you get all three of these policies in one:
General Liability
General liability insurance can help cover third-party bodily injury, third-party property damage, and personal injury claims. If someone trips in your office or accidentally damages a client’s item, this policy can cover those issues. Having this type of insurance can be important to protect your company because one accident or lawsuit could cause financial harm to your small business if you’re paying out-of-pocket. General liability can help keep you protected and allow you to continue your important work.
Business Property
Business property insurance can help protect your equipment from the furniture in your office to tools you use and the equipment that you bring to the jobsite, and it applies to both purchased and rented property. This coverage can be helpful because it can help cover the cost of replacing stolen, lost, or damaged business tools. If your company experiences an accident or has a break-in, this policy can help reduce the losses.
Cyber Risk
Cyber risk insurance can cover the financial cost of being impacted by a cyber-attack or breach. The average cost for a data breach in the United States is over four million dollars, and while it’s likely not to be that costly as a small business, it could still be enough to create a crisis for your business. If you have a website for your business and store customer information on it, getting this type of coverage can be extremely helpful to help protect you from this risk.
Why Should I Choose a Business Owners Policy?
One of the main reasons to choose a Business Owners Policy is because of the cost and convenience. A BOP is considered a “one-stop” option for key coverages as it includes basic insurance coverages typically selected by a business owner in one overall policy. For businesses, it could be a convenient alternative to buying separate single coverage policies.
Should you need to file multiple types of claims, it could be easier to do so when you have one policy. It might also make it easier to manage your premiums and find your coverage information. Your three major types of coverage would be all in one place.
Get a Quote to Start Protecting Your Business
Insurance can be important for plumbing companies, and a Business Owners Policy can be a great way to get comprehensive coverage. If you’re ready to get started with your own BOP for your plumbing business, start a quote with PolicySweet® today to begin protecting your company!