How do you get plumbing contractor insurance coverage in Orange County, NY?
What does plumbing contractors’ insurance cost?
In this video and post, I’m going to answer those questions and give you some advice on how to approach business insurance for plumbers and plumbing contractors in Orange County, coming right up.
So, you probably are thinking about your business insurance for your plumbing company and are curious about costs, coverages, or some other issue or common insurance problem and looking online for advice or guidance.
I hope to cover some of the common issues we find with plumbing contractors’ insurance here, but if there’s a question you have that I didn’t answer, please contact me for a conversation.
I promise no hard-core selling or pushing to quote your account and I love solving problems for business owners so I’d welcome your call or email.
What is the best plumbing contractor insurance?
In my opinion, the best insurance protection is one that is thoughtfully planned and carried out by an expert.
That typically means working with an insurance broker that is experienced in business insurance and who works with contractors on a regular basis.
I don’t think that websites that promise to get you a quote in 10 minutes by answering a few questions make a lot of sense.
Why?
Because, like it or not, business insurance is complex.
And in that 10-minute process who is the expert?
You are.
You’re being asked to be the insurance expert to understand your risks and the thousands of insurance coverages, forms, and options available in the marketplace.
Look, I get it, convenience is great – but at what cost?
Do you want to potentially sacrifice the business you’ve built and worked so hard for to be lost in a lawsuit because you didn’t know what excluding action over liability mean?
Or why do you need an umbrella policy?
The other point here is that just because an insurance website says that they are the cheapest for plumber’s insurance and the most convenient doesn’t necessarily make it true.
So, the big question on your mind is probably – What Does Plumbers Insurance Cost?
If you do some searches online regarding costs you may see things like basic, standard, custom cost charts that provide a monthly insurance cost for plumbing contractors. Like $89 per month.
You may also see some online insurance brokers provide median premiums for insurance. The median premium for plumbers is less than $125 per month.
To me, these are unrealistic numbers that don’t really indicate what YOU are going to pay for business insurance.
So, how much does plumbing contractor insurance cost?
The answer is going to be based on several rating factors, such as the type of work you do, where you do it, how large your company is, the number of trucks you have, the limits of coverage you buy, and your claims history.
How do you make sure you’re getting the best deal?
That’s a good question.
In my opinion, you want to work with an expert, a knowledgeable insurance broker who represents many of the top insurers writing plumbers who can do the shopping for you.
But in addition to that, you should work with a broker who can help you reduce risks and manage claims so that your claims record in the future is as best as possible.
That way you’ll be more attractive in the future to more underwriters who can offer you preferred pricing.
Here’s the bottom line when it comes to insurance for plumbers.
Now more than ever you have a wide variety of choices when it comes to purchasing insurance.
You can do it yourself online through a variety of websites, which I mentioned earlier is not my recommendation.
Or you can work with an expert firm who has the team to answer questions, issue certificates quickly, and give you advice when you need it.
In most cases, that expert broker is not going to cost you more than doing it yourself, so why add the hassle and burden of thinking through all those choices when you’ve got enough on your plate?
If you choose to work with a broker like me, you’re going to want to find someone who represents a wide variety of insurers that can offer you choice, and have the resources as I mentioned earlier to provide advice on managing risk, safety, and compliance.
By the way, we have all those things!
Thanks for watching or reading this post.
If you have any other questions, issues or thoughts you’d like to talk with me about feel free to reach out. Let’s connect.
I love solving insurance problems for business owners of all types and work with plumbers across the country so let’s chat.
Thanks!
