Manage Risk for Your Company with Customized Commercial Insurance Coverage for Plumbers


Many small plumbing companies run on a shoestring budget. They may require no more than a van, a couple of plumbers, and a part-time employee to keep the books. If you operate a family-owned plumbing company, you probably strive to keep overheads as low as possible. This may mean that you have never considered customized commercial insurance coverage for plumbers – many entrepreneurs reject the idea because they think it sounds too costly. But in fact, customizing your insurance policy can lower your overhead costs! Many standard commercial insurance policies are designed for larger companies, and if you are using one, you may be paying for coverage that you’ll never need. For example, a company located in the Muskokas that specializes in repairing or replacing fixtures and pipes in cottages does not need to be insured for the same types of activities as companies that retrofit industrial properties or public spaces in the Greater Toronto Area.


On the other hand, larger companies may be underinsured. If your business has grown in recent years and you are now managing multiple crews and worksites, you may want to consider opting for customized commercial insurance that will be sure to provide adequate coverage.


What is Customized Commercial Insurance Coverage?


At a minimum, insurance for your plumbing business should cover:

  • Vehicles and equipment, including loss, theft, and breakdown;
  • General liability;
  • Loss of revenue due to losses or damages at a contract site;
  • Building material replacement;
  • Group accident coverage for your employees.

Most insurance companies offer policies that are tailored to reflect the client’s business size and number of employees. These are sometimes marketed as "custom” policies. However, truly customized commercial insurance requires a deeper look at your business and its individual needs. You should begin by engaging a broker, who will spend time with you to really learn about your business and all of its activities. A comprehensive risk analysis will follow, pinpointing areas where your business may be vulnerable. (The safety expert who conducts this analysis may even be able to suggest ways that you can minimize exposure to risk.)


Choosing an Insurer


Even if you are satisfied with your insurance carrier, it’s important to reassess periodically. Your business may have changed in ways that makes it important to change your coverage. A broker can help to keep you up-to-date with changes, and can answer questions for you. If you have to make a claim, your broker can guide you through that process, too.


The key to having peace of mind with regard to insurance is trust. Look for a company that values the broker/client relationship, and a broker who is willing to take the time to get to know you and your business. You must be able to trust that your broker has your best interests in mind, and that he or she will help to provide you with all of the coverage you need – and none of the coverage that you don’t need. You must also be able to trust that if something did happen, your broker would have your back; that you’ll be compensated quickly and in the way that causes the least amount of disruption possible to your business.


Consult with a broker who specializes in customized commercial policies for plumbers, and learn more about what this type of insurance can do for you.

Insurance Brokerage Serving the Greater Toronto Area (GTA) for Over 30 Years

Commitment to our clients is to provide:

  • Right insurance program.
  • Right insurance company.
  • Right price.
  • Recommend practical loss prevention measures.
  • Guide and assist you during claims3 settlement process.
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