How much does plumbing insurance cost?

Plumbing businesses and contractors pay an average of $115 per month, or $1,378 per year, for general liability insurance. Some plumbers need proof of insurance for this policy to sign a commercial lease or a client contract.

A general liability policy can pay for medical expenses from accidents, such as a customer who trips over your toolbox and suffers an injury. It can also cover costs if someone sues your business over a bodily injury, property damage, or advertising injury.

This is the average policy for plumbing contractors who buy from Insureon:

Premium: $115 per month
Policy limits: $1 million per occurrence; $2 million aggregate
Deductible: $500

The cost of a general liability insurance policy depends on factors such as the coverage limits you choose, the size of your business, the amount of foot traffic you have, and any subcontractors or additional insured endorsements.

Learn more about how your premium is calculated and how to save money on your general liability policy.

Plumbing businesses and contractors pay an average of $166 per month for a business owner's policy, or $1,992 annually. Only small, low-risk businesses are eligible for a BOP.

A BOP is an insurance package that bundles two important types of coverage at a discount. It includes general liability coverage to protect against common lawsuits, and commercial property insurance to cover stolen or damaged business property.

This is the average business owner's policy for a plumber who buys from Insureon:

Premium: $166 per month
Policy limits: $1 million per occurrence; $2 million aggregate
Deductible: $1,000

The cost of a business owner's policy depends on factors such as the insurance options you choose, the size of your business, the amount of foot traffic you have, and the value of your business property.

Plumbers pay an average of $195 per month for workers’ compensation insurance, or $2,337 annually.

Workers' comp helps pay for medical costs from work-related injuries and illnesses. Most policies include employer's liability insurance, which covers the cost of lawsuits related to workplace injuries.

There's usually no limit to how much a workers' comp policy can pay for employee benefits, though it depends on state laws.

The cost of a workers' compensation policy depends on factors such as the number of employees you have and the type of work they do. Learn more about how workers' comp costs are calculated and how to save money on your policy.

Plumbers pay an average of $225 per month, or $2,704 per year, for commercial auto insurance.

Most states require this coverage for vehicles owned by a business. For personal, rented, and leased vehicles used by your business, look to hired and non-owned auto insurance (HNOA) instead.

Commercial auto insurance covers financial losses in the event of an accident involving your business vehicle. It can help pay for property damage, medical bills, and legal costs. When buying a policy, you'll need to make sure your coverage limits match the requirements in your state.

The cost of a commercial auto policy depends on your coverage needs, the value of the vehicle, and your insurance claims history. Learn how insurers calculate your premium and how to save money on your commercial auto policy.

Plumbers pay an average of $19 per month for contractor’s tools and equipment insurance, or $224 annually.

A form of inland marine insurance, this policy covers your property whether it’s in your office, in transit, or at a jobsite. It can pay for lost, stolen, or damaged plumbing tools and equipment valued at $10,000 or less.

The cost of contractor's tools and equipment coverage depends on the value of your tools and equipment and the type of work you do.

Construction businesses and contractors pay an average of $74 per month, or $886 per year, for professional liability insurance. Plumbing businesses can often add this coverage to their general liability insurance for a discount, at an average rate of $112 monthly.

This plumber's liability insurance covers legal fees related to professional negligence, such as a newly installed water heater that doesn't match a customer's specifications. It's also called errors and omissions insurance (E&O).

This is the average insurance coverage for contractors who buy from Insureon:

Premium: $74 per month
Policy limits: $1 million per occurrence; $1 million aggregate
Deductible: $1,250

The cost of professional liability insurance depends on factors such as the coverage limits you choose, the size of your business, and your profession. Find out how insurers set professional liability premiums and how to save money on your policy. 

Plumbing businesses and contractors pay an average of $250 per month, or $3,000 annually, for commercial umbrella insurance. You can buy this policy to boost the limits of your underlying general liability, commercial auto, or employer's liability insurance.

When the underlying policy reaches its limit, commercial umbrella insurance activates to cover any costs over that limit.

The cost of commercial umbrella insurance depends primarily on the amount of coverage you purchase.

Plumbing contractors and businesses pay an average of $8 per month, or $100 per year, for a surety bond.

A surety bond reimburses your client if you're unable to fulfill the terms of a contract or other agreement. You may need a surety bond to get a plumber's license for certain types of work.

The cost of a surety bond primarily depends on the size of the bond.