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We aim to help plumbers find affordable plumbing insurance in MN that suits your needs. No less important is to educate our plumbing friends and customers. Below is information on the types of insurance plumbers in Minnesota might purchase. Please read this information to assist you in making quality, informed decisions before you buy a plumbing insurance policy in Minnesota.
Are you looking for a quote? Our office shops multiple companies to find you the insurance coverage you need at a price that doesn’t break the bank. Call 952-469-0425, email us at info@insuringminnesota.com, or use our quick quote form. We promise to make it affordable, comprehensive, and straightforward.
General Liability Insurance – Plumbing Insurance
General liability insurance coverage helps protect plumbing businesses against a third party’s bodily injury and property damage claims. These claims can arise from your premises, products, operations, and completed operations. Plumbers liability insurance or general liability is a broad insurance policy covering residential and commercial jobs.
We cite a few examples:
- Bodily Injury: During any installation, an injury could happen by an object falling on your customer. General liability insurance would protect you against claims filed by the customer seeking compensation for the resulting medical costs. Insurance coverage helps shield your business from lawsuits and can assist in keeping your business afloat.
- Damage to Property: Any of your employees may cause a water leakage inadvertently that may result in inundation. It heavily damages the building, furniture, and other articles in the household or business. The customer will file a claim, often thousands of dollars. When adequately protected by insurance, you have a level of protection from that substantial financial burden.
- Personal Harm: The customer may overhear an employee of yours spreading malice about him. Infuriated, the customer goes ahead and files a claim. Again, you’re protected from financial ruin by your insurance policy.
To be a licensed master plumber in Minnesota, you’ll have to submit proof of liability insurance to the Minnesota Department of Labor & Industry. Our office works with the DOLI daily and guarantees that your coverage will be correct and meet the licensing requirements.
Workers’ Compensation Insurance
Do you need workers’ compensation coverage in Minnesota? Honestly, it depends on who is asking. If the State of Minnesota asks, and you have employees, the answer is yes. In the eyes of the state, if you don’t have employees, you do not need workers’ compensation insurance. However, if a general contractor is asking and requires it, you will need a policy even if you don’t have employees. We call this zero payroll policy a ghost or waiver work comp policy when you don’t have employees and need a workers comp policy. If you would like to know more about a ghost workers’ compensation policy, check out these links: https://contractorspolicy.com/do-i-need-workers-comp/ and https://contractorspolicy.com/what-is-a-waiver-policy-or-ghost-policy/
Minnesota law requires you have workers’ compensation insurance when you have employees. Workers comp insurance covers the cost of medical treatment and the loss of wages the employee suffers up to the policy’s limits, with some exceptions.
If you’re a contractor with a subcontractor(s) to do some or all of your work, having a work comp policy can serve as a safety net. As an example, the subcontractor was hurt and then deemed to be an employee. We have seen this happen when a general contractor is not following the nine-factor test on what an independent contractor is. https://www.dli.mn.gov/business/independent-contractor/contractor-registration-nine-factor-test
Workers comp is rated based on payroll and the type of work the employee does. Other factors also enter into the picture, like limits of coverage, an experience modification factor (claims history) & credits, and debts by the insurance company. Rates in Minnesota vary from company to company, so we shop multiple companies to ensure you are getting the best deal.
Tools and Equipment Insurance
Tools and equipment insurance coverage are often essential to your insurance program. Some plumbing tools and equipment can be pretty expensive. Theft is the number one concern when it comes to this coverage. Suppose most of your devices and equipment go missing from your van one night. Until replaced, you can’t work, putting you in a real pickle. Having tool and equipment coverage gives you peace of mind knowing you can through down the credit card knowing a check will come to pay for some of it.
Replacement cost coverage is often only available to items under five years old. Coverage is most often actual cash value (ACV), which is what it is worth at the time of loss.
Special form coverage is better than named peril as it is a limited list of exclusions rather than a simple list of covered items.
Plumbing insurance is not complete with this valuable inland marine coverage. Inland marine coverage is designed for your tools and equipment away from your shop or premises.
A typical personal homeowner’s policy only covers $2,500 on-premises and $250 off-premises. If you have valuable tools & equipment, do yourself a favor and buy this affordable, valuable plumping insurance coverage.
Commercial Auto Insurance
Commercial auto insurance is one of the top four to consider purchasing insurance coverage. You drive to almost every job site in most cases; this is essential coverage to consider. Also, personal auto insurance policies can have exclusions for business use or hauling tools, equipment, and materials; this is something you need to have. Uncovered claims for bodily injury and property damage, not to mention the high cost of your vehicle, are all reasons to have the proper protection.
Commercial auto insurance can protect you against hail, fire, theft, deer, birds & animals, collision and upset, and under and uninsured vehicles. Again, a personal auto policy does not typically work since most of them exclude vehicles used for commercial purposes. Get the proper protection and secure the life of your hard-earned business.
Commercial Property and Business Personal Property Insurance
If you own a building with business personal property inside or lease a shop and need business personal property coverage, this is something many plumbing businesses need. A fire, theft, or act of vandalizing puts your business in harm’s way; protect it! Ensure your building is insured correctly, and don’t forget the things inside, including your inventory!
The cost of this coverage varies on value, construction type, location, deductible, and coverage details. Be sure to understand what you are buying.
Requirement for Certificate of Insurance for Plumbers in Minnesota
The Minnesota Department of Labor and & Industry wants to ensure all licensed plumbers know to work safely and legally and have proper training.
Plumbing licensing types & definitions: Plumbing Contractor, Master Plumber, Journeyworkers Plumber, Restricted Master Plumber, Restricted Journeyworker Plumber, Unlicensed Individual – Plumbing, Medical Gas Certification, Plumbing Bond Registration (Pip Layer), Certified Pipelayer, Backflow Prevention Rebuilder, Backflow Prevention Tester, Water Conditioning Contractor & Water Conditioning Installer. Please see the attached link for more information: https://www.dli.mn.gov/business/plumbing-contractors/plumbing-license-types-and-credentials
Public liability insurance must include product liability insurance with limits of $50,000 per person or more and $100,000 per occurrence and property damage insurance limits of $10,000 or more. The insurance company must be licensed to do business in Minnesota. If a policy was to cancel, the insurance company must notify the commissioner.
Let Contractors Policy help you obtain plumbers’ insurance, and we will guide you through the entire process and keep things hassle-free. Reach out to us at 952-469-0425or complete our simple online form. Tell us about your business; we are listening. Your Minnesota plumbing insurance is just a call or click away!
Please do yourself a favor and contact us now!
