What is plumbers' insurance?
Plumbers’ insurance is a catch-all term for several insurance policies that you may need as a professional in the plumbing industry. Usually it includes plumbers’ public liability insurance, plus additional cover options.
Public liability insurance covers you for harm to members of the public or damage to their property while you are working. For example, if a client tripped over a stray pipe and injured themselves while you were fixing their sink. Public liability insurance can help cover your legal fees and compensation you may have to pay.
It’s not a legal requirement to have public liability insurance, but you should consider whether you would be able to stump up the cash to pay legal fees and compensation if someone did make a claim against you.
What’s more, some clients may request evidence that you have public liability insurance before working with you.
» COMPARE: Public liability insurance
If you’ve given a client advice and something goes wrong as a result, they may make a legal case against you. Professional indemnity insurance can cover your legal fees as well as the compensation costs you may have to pay out.
Insurers can also offer a tools and equipment policy that covers the cost of replacing your equipment in the event of damage, loss or theft. You may have to pay extra to cover your tools overnight, so it’s worth checking with your insurer.
If you employ anyone – except for close family members or staff working abroad – as part of your plumbing business, you are legally required to take out employers’ liability insurance with a minimum of £5 million cover. Employing people without this is illegal and could prove expensive, as you can be fined £2,500 a day if you don’t have the correct cover.
» COMPARE: Employers’ liability insurance
Personal accident insurance covers you if you suffer an injury, or even die, whether you’re at work or not. You could get a lump sum if you are injured, and it could cover loss of income if you can’t work because of your injury. If you are in a fatal accident, your next of kin could get compensation.
Personal accident cover is included in some plumbers’ insurance packages as standard, while other insurers may offer it as an add-on.