Avail Plumber’s Insurance to Stop Your Earnings from Going down the Drain

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Plumbers work with water, gas, and electricity. As a plumber, you have to repair old, rusted pipes and replace faulty and totally corroded ones. You face health hazards from exposure to fumes, proximity to gas lines, working with toxic adhesives and sealants, etc. These hazards also carry the potential for physical damage to others, damage to property, and financial loss. Plumbers working on construction sites risk injuries and damage that may not be of their own making.

Plumber’s insurance will help you meet associated costs.

  1. Public liability insurance – Plumbers need the backing of this insurance to protect themselves from expenses that may arise because of work they do for customers. Public liability is the most commonly asked for insurance by public and private organizations seeking bids for major work, plumbing included. Damages to fittings in the bathroom or kitchen while doing plumbing work, leaks during septic tank repairs, damages during installation of drains, etc are just some situations where this insurance will prove its usefulness in meeting claim costs and legal expenses.
  2. Products liability insurance – If you sell or supply products then you need financial cover for eventualities such as property damage or injury because of the products. Leaky tanks and faucets, and faulty water heaters are examples of products that may malfunction. Any claims made against you may or may not be absorbed by the manufacturer. If the buck stops at you, then you have this policy covering your back.
  3. Financial loss insurance – Apart from financial losses suffered because of physical injury and property damage, your customers may lose money because of events such as you fitting a tap that does not meet requirements or you overshooting deadlines resulting in loss of sales. Such losses are covered by financial loss insurance.
  4. Employer’s liability insurance – If you employ labour then this insurance is a legal requirement. Each day that you run your business without this cover invites penalty. This insurance protects your business from claims raised by employees who get hurt when working for you. It also covers the cost of treatment for employees suffering an illness. Choose a minimum level of employers liability insurance that gives you satisfactory cover.
  5. Tools and equipment insurance – Pliers, wrenches, pullers, cable saws, pipe cutters, and knives are some of the tools of a plumber’s trade. This policy protects your business from unseen costs arising from theft of tools and damage to equipment. The level of cover will vary with the risks and the size of your business. Choose a policy that increases in affordable steps, like in steps of £500 so that at any point you’re paying the lowest for your needs.
  6. Personal injury insurance – Plumbing comes with its own set of risks. The risk of injury, fire, and exposure to biohazards and chemical hazards is always there. Injury, sickness, and even fatalities are not unheard of for any tradesman, including plumbers. This insurance covers medical and hospitalization costs as well as loss of income.

A well-rounded plumber’s insurance which reputable providers like Tradesman Saver can supply you with will provide you cover against risks and contingencies associated with your work. The scope of your work, number of employees, individual assignments, and the type of equipment and tools used are important factors in determining the extent of cover ideal for you.

The basis of a comprehensive plumber’s insurance policy lies in covers that include public liability, financial loss, legal expenses, and products liability. Professional indemnity, public liability, and employer’s liability insurance costs are eligible for tax deduction because they come under the head of business costs.

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