The plumbing industry outlook is cheery. According to the Bureau of Labor and Statistics, the demand for plumbers and pipe fitters will increase to over 15 percent 8 years from now, as more properties are built and the government becomes stricter when it comes to water conservation and maximization.
This also means that a plumbing business can look forward to massive growth as long as it knows how to play its cards right, including the purchase of the right types of commercial insurance.
The Benefits of Having an Insurance Policy
The main goal of getting an insurance policy is to protect everything that you’ve spent for and invested in the company. It also offers the same protection to your credibility and future income.
Take, for example, the following scenarios:
- An employee, a plumber, fixed the wrong pipe, which eventually led to house flooding. The homeowner then asked for compensation from your company; otherwise, he’s going to sue.
- While working on the main line, a person suddenly ended up falling into the hole because your plumber forgot to put up the necessary signs. His lawyer sent a notice to your firm.
- An employee fell into the ditch while doing his work, breaking his arm. Thus, he cannot report to work for a month. He filed a disability claim.
Now imagine if you don’t have any insurance. Where will you get the money that you need to cover for lawyer’s fees, pay for compensation, and give as a benefit? Of course, from your business! But these are not small expenses. These are extremely costly they can actually compel you to declare bankruptcy.
Insurance Coverages That We Provide:
- Workers Compensation
- Payroll Management
- Professional Employer Organization
- Employment Practices Liability Insurance (EPLI)
- General Liability
- Professional Liability
- Surety Bonds
- Commercial Auto
- Builders Risk
- Inland Marine
- USL&H Coverage
The Enterprise Insurance Group Advantage:
- Carriers are experienced and financially sound
- Excellent Support from underwriting to payments
- Expertise in handling catastrophic claims and loss mitigation
- Multiple payment options