When you run a plumbing business, it’s important to have insurance that covers your equipment, employees, and customers.

But what does plumbers insurance cover specifically? And how can you make sure you’re covered for the risks your business faces?

There are a number of essential, and worthwhile insurance products that are worth considering, which will make sure your plumbing business is covered against everything from injuries to lost or stolen tools. Let’s break down the basics of what plumbers insurance typically includes, and how you can get the cover you need.


Plumbing Insurance Types: Essential Cover


Public Liability Insurance


Public Liability Insurance covers third party property damage and/or injury. It protects you from loss of earnings due to damages or business interruption secondary to third party claims. This means if you do something like accidentally dropping a tool and damaging a customers tiles, or damaging pipes. 

Don’t underestimate the importance of public liability insurance coverage. It’s essential to your plumbing business. It also covers you anywhere in Australia, which means it will be in place, even if you’re operating from a different state from where you initially got the cover. 


Workers Compensation


The plumbing industry exposes workers to injuries such as falls, burns, or cuts. These incidences don’t only put the plumber at risk, but also contributes to increased company expense. Workers compensation covers your employees in the event they are injured while under your company.


Motor Vehicle Insurance

You may not see it as necessary, but until you’re running your plumbing business and traveling to different areas, motor vehicle insurance can protect you and your finances.

Having a vehicle insurance in place allows your business to continue running and generating income despite road accident that would require vehicle repair.


Plumbing Insurance Types: Suggested (Best Practice) Cover


Personal Accident and Sickness Protection


This coverage is ideal if you’re a sole trader or self-employed. An unforeseen sickness or accident can leave you unable to work, and for self-employed plumbers, no work means no pay.

With personal accident & illness insurance, you can acquire financial support from your provider to keep up with your bills until you’re able to get back on track again.


General Property (Tools of Trade) Insurance


Your plumber needs to be prepared for any situation that may arise while on the job – from being robbed to having equipment damaged or lost due to accidents during work hours. And the cost of replacing lost or damaged tools can be significant.

A General Property policy will protect you from financial loss if anything happens with your tools. It covers expenses associated with repair and replacement.


Plant and Machinery Coverage


This type of policy covers mobile plants, machinery, and other plumbing-related equipment. This includes bobcats, loaders, and excavators.

This heavy equipment is quite costly, and having it insured should help you cover the expenses if they are damaged.


Management Liability


The management liability insurance policy is designed to cover investigations by regulators and Government bodies, unfair dismissal claims, and injury to third parties.


Personal Accident and Illness Insurance


Working a trade means you need to be fit and healthy to provide your services. Personal Accident and Illness Insurance covers you if you’re unwell or suffer an accident that will result in loss of income while you recover. 


Cyber Insurance


Cyber Insurance protects you against damages in IT systems, cyber attacks, theft, or data destruction. It also covers cyber extortion and hacking.

This is especially helpful if you accept online payments and transact with your customers via email or other online forms or websites. Cyber attacks put your business and customers at risk, so cyber insurance is something you might have to consider.


Why Should I Go to an Insurance Broker for My Plumbers Insurance?


Industry advancements have made purchasing insurance policies online easier than ever, but if you’re running a small plumbing business, a generic, off the shelf plan might not cover your specific needs.

The main benefits of using a professional insurance broker, especially for small businesses, are that you will receive a package that’s tailored to your specific needs, they will help you arrange and maintain your insurances, and they will act as your advocate in the settlement of any claims you may have.


Protect Your Business With GSK Insurance


Without the appropriate plumbers insurance, you run the risk that in the event someone is injured, or your tools are stolen, you’ll find yourself in a compromised financial position.

At GSK Insurance Brokers Perth, we will help you plan for the long-term, so you can forget about any quick fix, off the shelf solutions that only patch up a fraction of your risk, and focus on the bigger picture. Sitting down with a professional who can analyse your situation, identify your areas of exposure, and compose a package that will evolve your plumbing business, save you time, money and any hassles, now and well into the future, is the GSK difference.

March 6, 2017

By Graham Knight

Founder and Managing Director of GSK Insurance (established in 1981). Graham draws upon more than 50 years’ experience in the insurance industry, working in both insurance and broking across various private, public and government sectors in Australia.

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