Every tradesperson faces risk on a daily basis. Construction, the most dangerous industry sector in Canada, accounts for more than 20% of workplace deaths in the country. For plumbers, there are numerous dangers inherent in the job. For example, sometimes  employees working on plumbing can be exposed to toxic substances such as asbestos, lead, or sulphur dioxide. Mould and adhesives can also be hazardous to the lungs; solder can be a danger to the eyes. And of course, exposure to biohazards such as raw sewage can also be a problem. Other dangers for those working on plumbing systems include: working near flammable materials, exposure to infected bird or rodent feces, muscle strain due to working in confined spaces or lifting heavy materials, falling while working from a height, operating power tools, burns due to release of steam or hot water, slip-and-fall accidents, electrical burns, and stress.

It’s easy to see that plumbing contracting companies need insurance that can cover a variety of eventualities. Many companies, however, make the mistake of using a standard commercial insurance policy to provide coverage. While this is sometimes reasonable, a standard policy may actually provide too much coverage in some areas, and not enough in others. That’s why customized commercial insurance coverage for plumbing contractors can be the best choice.

What is a Customized Plan?

There are numerous insurance companies in Ontario that will adapt their standard plans used for various types of businesses, adjusting for the size of your enterprise and number of employees. A truly customized policy, however, involves finding a broker who will take an in-depth look at your business in order to really understand the way you and your employees work. A comprehensive risk analysis is then performed on your business by a safety expert.

After the risk assessment, your broker and the safety expert will meet with you to discuss it, and may suggest areas where you may be able to improve safety and reduce risk. For example, many times employees get sloppy about wearing safety goggles while soldering. Simply ensuring that team members are supervised and reminded to wear safety equipment can help to prevent injuries on the job.

Some of the areas that you and your broker will want to consider are:

•       Business property insurance;

•       Equipment, including loss, theft and breakdown;

•       Fines and damages;

•       Commercial general liability;

•       Loss of revenue due to losses or damages at a contract site;

•       Building material replacement;

•       Group accident coverage for your employees.

Your broker will then approach an insurance company to create a customized insurance policy especially for your enterprise, reflecting the type of jobs you do and how you do them. By opting for a custom plan, you can be sure that you’ve got the right insurance: you’ll be paying for the coverage you need, but only for the coverage you need.

How to Choose an Insurance Broker

Choosing an insurance broker is like choosing a supplier or an employee; trust is paramount. Look for a broker that emphasizes client relationships. Narrow your search to brokerage companies that have a good track record and whose core values appeal to you. Meet with a broker to discuss your insurance needs, and see how you get along.

Contact a broker that deals with customized commercial insurance coverage for plumbing  today, and learn more about insurance that really reflects your needs.