| Plumber Insurance Explained
If you are a plumber or run a plumbing business, you will, as a minimum,
need to buy employers liability insurance (to comply with the employers
liability protection act). Although not compulsory, taking out plumber’s
public liability insurance will be essential for protecting your business
against claims made upon you for negligence. Plumber is a
skilful trade and as such, some of the activities of plumbers are regulated
by law, anyone installing or servicing gas supplies or gas appliances has to
be a CORGI registered. Accidents or injuries caused whilst carrying out work
can sometimes lead to substantial damage being caused and more often than
not homeowners and business owners will expect the plumber to pay, if
negligence can be proved. Public liability insurance policies come with
fairly high indemnity limits to help protect you against claims (the
indemnity limit is the maximum amount the insurance company will pay). This
is usually between 1 & 5 million pounds. You can often choose the indemnity
limit you require, but certain jobs, particularly for shops and offices, may
want you to hold a higher limit. If you do carry out this type of work, it’s
a good idea to ask the insurer before cover is incepted, if they can upgrade
your policy if required at a later date.
Public Liability Policies are usually rated on a per capita basis, with the
more persons employed, within the firm, the higher the rating. For larger
firms, it is often possible to rate the insurance on a turnover basis.
Quotations are based on the type of work being varied out, most plumbers
with restrict there work to plumbing (and sometimes heating) to domestic
dwelling houses, shops & office etc. If any work is carried our, outside of
these areas, then a loading may be applied to the policy. When applying for
a quotation, full details of all work carried should be disclosed as well as
full details of any previous claims. Plumber’s tools can be very expensive
and costly to replace, it is thus possible to obtain an extension on the
policy to include tools or even hired in plant. Cover for theft may contain
some restrictions so it’s essential to study the policy Keyfacts carefully.
If you are worried about loss of income following an accident, it may, in
some circumstances also be possible to add on Personal Accident Insurance.,
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Tradesmen Insurance Policy especially designed for the businesses with a
turnover of less than £650,000
