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Plumbers Public Liability Insurance is different from most industries as there are a number of different things to consider when you are looking for public liability insurance as a plumber. As a plumber, there are a number of aspects to consider when you are looking for a suitable plumbing contractor’s insurance policy.
Insurers will typically want to know if you do commercial, domestic, or unit complexes and whether you have any exposure to gas. It is important that on your plumber’s public liability insurance you are accurately covered for all of the work that you are actually doing.
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Recently with the increased demand in unit complexes, a lot of insurers are not willing to increase their exposure to plumber contractors, especially contractors that are working on dwellings that are higher than a 2-storey dwelling. This has come after a recent increase of claims where plumbing contractors have been held liable for water damages across multiple floors of apartment complexes. This has seen an increase in plumber’s public liability insurance policies and causing them to be rated on a more specific type basis. Liability insurance for plumbers used to just be like saying “hey, I’m a plumber and I need insurance”. Now it’s more along the lines of:
Insurers have started asking these questions to reduce their exposure to specific plumbers insurance policies. Depending on the answers to the above questions will determine how many insurers are able to provide you with a quote. This will also determine whether you qualify for a cheap plumbing insurance quote or whether your policy has some additional rates included depending on the work that you’re doing.
What sets Priority Insurance Brokers apart for arranging your Plumbers Public Liability Insurance?
Get a quote for your plumbers public liability insurance
As the market continues to harden for plumbers insurance policies, the more specific information that is required will ensure that you have a suitable insurer covering you that understands the work that you are doing. The worst thing that you can do is try and provide no information at all, expect the cheapest premium and then expect the best claims service if an when a claim occurs.
All of this information is used by the insurer to determine whether you meet their risk appetite or not. This will usually determine what insurer we place your policy with to ensure that you are covered correctly.
We recognise that managing a business demands significant effort, and as a business owner, you’re accountable for various operational facets. To simplify matters, we’ve strived to streamline our processes. Our Brokers collaborate closely with each business owner to develop a robust understanding of your enterprise and the necessary requirements. Our aim is to eliminate any unexpected surprises. Transparency is a cornerstone of our approach, and we refrain from concealing information within fine print.
A Plumbers public liability insurance policy will always follow the same principles and scope of cover. Traditionally speaking, a public liability policy will cover personal injury and property damage due to your negligence. This is generally the same across all insurers whether you are insuring through a broker or not.
So answering the question as to whether the policies are better through a broker or not are hard to answer as the cover is generally the same.
The biggest difference between insuring through a broker or going direct to an insurer is the type of pricing, service and conditions that are applied to your policy.
As an example, being part of the Steadfast Group means that for insurers to have access to our clients, they are taken through an onboarding process which includes a review of their cover and policy wordings. Behind the scenes, they also monitor and have service level agreements in place to ensure that the insurer is providing a level of service that is expected by our clients.
When you are operating in an industry that is so thoroughly reviewed the difference of providing one small piece of information could result in a claim not being covered when something unforeseen happens.
The other important part of using a broker for your policy is the advice that comes along with it. It’s great if you can purchase your policy directly with an insurer but are you aware of how each condition affects you?
Cheap plumbing insurance is only the price that you pay when you take out a policy. If you expect a cheap plumbing insurance policy to not ask any questions when a claim is lodged due to you causing damage on a civil construction site that was never declared to the insurer then your costs are no longer going to be cheap.
The costs that you might be liable for could be in the hundreds of thousands of dollars, but hey – the policy was still cheap right?
Insurance is the same as most industries in the fact that you usually get what you pay for. Cheap insurance policies can be riddled with exclusions. Some of the common exclusions that we see on plumbers public liability insurance policies are:
Depending on the insurer, these conditions can vary significantly and no insurers treat risks the same way. Each insurer applies their own specific conditions and each insurer has their own question set to answer before accepting the cover.
Most trade contractors should consider additional policies alongside their public liability insurance. Some of the other frequently considered policies are:
A broker can be an extremely important asset to your business. Our team of insurance brokers work alongside your business and act as your insurance adviser as the risks change for your business.
We aim to provide you helpful information that can assist you in making insurance decisions. To view all of our blog posts, click the button below.
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