If you’re not sure you’ve got the insurance coverage you really need, we’ve put together this plumbers’ insurance checklist. To help make sure you’re aware of what your business insurance needs are.
Each business is different and has different needs, so we highly recommend you use the checklist as a guide and also speak to your insurance broker about the finer details.
Insurance Web are your local plumbing insurance specialists and we conduct a Needs Analysis as the first step in the insurance process before recommending a tailored program.
Insurance for Mobile Plumbing Services
For those plumbing businesses who run a mobile business which is operating to and from a home address the following applies to you.
This type of cover is generally for up to 4 staff members and are essentially the basics when it comes to running a plumbing business.
- Public Liability – Bodily injury / property damage arising out of the insureds business activities.
- Professional Indemnity Extension – provides cover for the issue of Compliance Certificates as a fee for service, where the only work completed is the compliance sign off of other peoples’ work.
- Products Liability – Bodily injury / property damage arising from products manufactured, modified, repackaged, imported, grown or sold.
- Motor – Loss or damage to the full range of motor vehicles including: windscreen free of excess and hire vehicle in case of an at fault accident for your business continuity.
- General Property – Loss and/or damage to portable items such as tools of trade, laptops and other portable equipment while away from the insured premises. Cover for specified items and unspecified items up to $2500 per item that are not specified.
Insurance for Plumbing Business Premises
For those who are running a larger operation within a business premises and generally with 4 or more staff, in addition to the insurance cover listed above, should also be looking at:
- Fire & Perils – Damage to assets (building, contents, stock, equipment etc) caused by fire, storm, water and nominated perils excluding flood unless specifically included (Extension for your Customers’ Goods).
- Business Interruption – Loss of trading income and increased expenses due to damage to fixed assets or prevention of access excluding flood unless specifically included.
- Burglary – Theft of property and/or customers’ goods following a break and enter (Extension for your Customers’ Goods).
- Glass – Damage to fixed external or internal glass or both.
- Machinery Breakdown – Repair costs incurred following breakdown of plant and equipment
- Electronic Equipment – Electrical breakdown of computers and associated equipment
- Goods in Transit – Damage to goods in transit – locally within Australia and Import/Export if applicable.
- Management Liability –
- Directors & Officers – indemnity following a “wrongful act” committed by the directors or officers or a company.
- Employment Practices Liability – defamation, sexual harassment, wrongful dismissal, discrimination allegations by staff or contracted staff in the workplace.
- Statutory Liability – fines imposed for unintentional breaches of government acts.
- Taxation Audit cover – expenses due to unexpected tax audit.
A range of other covers such as Travel Insurance and Cyber Event Protection Insurance are also available on request.
Plumbers Insurance Checklist
If you’re unsure whether your plumbers insurance is correct or up-to-date, speak to the team at Insurance Web today!
Insurance Web is your local small business insurance experts. Known for our simple processes, cost-efficiency and trustworthy staff, we’ll help you get the right business insurance cover so you can trade confidently and securely right now!