What type of insurance do you need for a small plumbing business and what does bonded mean?

Plumb Insurance

My answer will have to be general because this is another state to state issue. There are different types of bonds. Contractors are generally required to provide a Bond in compliance with either federal or state laws. Most often a License and Permit Bond will be requested by your state, municipal ordinance or local regulation as a condition precedent to the granting of a license to engage in a particular business. If you are lucky your state may require a bond generally in the area of $10,000 - 25,000 limit. The requirements are pretty specific regarding limits for your general liability and related coverages which may be state specific such as workers compensation. You should be able to obtain those guildlines from the department which oversees General Contracting licenses. Your best option is to work with an agent who can better address your specific needs. Check with other contractors who may recommend an agent who is doing a good job for them. Keep in mind, your cost will be dependent upon a number of factors, including, but not limited to how you are classified for insurance rating purposes. A plumber who is heavily involved in sewer and underground work could be more expensive than a residential plumber who is primarily doing faucets, water heaters and related work.

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