As a plumber in Alaska, having proper insurance coverage is crucial for protecting your business, meeting state requirements, and securing contracts. This comprehensive guide breaks down the essential insurance coverages Alaska plumbers need, including costs based on our analysis of actual quotes from leading carriers.
Discover essential details about plumber liability insurance options for your business.
General Liability Insurance for Alaska Plumbers
General liability insurance protects plumbing businesses from third-party claims of property damage and bodily injury. Here are the average costs for Alaska plumbers:
| Revenue Size | Average Premium | % of Revenue | Favorable Rate | Potential Savings |
|---|---|---|---|---|
| $150K | $2,300 | 1.5% | $2,300 | 0% |
| $500K | $7,600 | 1.5% | $7,600 | 0% |
| $1M | $15,200 | 1.5% | $15,200 | 0% |
These premiums assume:
- Clean claims history (5+ years without incidents)
- Standard $1M/$2M coverage limits
- Mix of residential and commercial work
- Approximately 10% subcontractor costs
Key coverages include:
- Property damage during work
- Bodily injury to clients/bystanders
- Products and completed operations
- Damage to rented premises
- Medical payments
Worker’s Compensation Insurance for Alaska Plumbers
Workers’ compensation insurance is mandatory for Alaska plumbers with employees. Based on our analysis:
Average cost per employee: $15,660 annually
Average cost per $100K payroll: $5,200
Key factors affecting premiums:
- Job classification (Code 5183 for plumbers)
- Total payroll
- Claims history
- Safety programs
- Experience modifier rating
Additional Business Insurance for Plumbers in Alaska
1. Tools & Equipment Coverage
- Annual premiums: $200-$2,000
- Policy limits: $5,000-$15,000+
- Per-item limits typically $5,000
- Covers theft, damage, loss during transit
2. Commercial Auto Insurance
- Cost: $1,500-$3,050 per vehicle annually
- Standard limits: $100K per person/$300K per accident
- Higher limits recommended ($500K-$1M)
- Required for business-owned vehicles
3. Plumber’s Bond
- Bond amounts: $5,000-$25,000
- Premium: 1-3% of bond amount
- Rates vary by credit score:
- Excellent credit: $100-$500
- Good credit: $150-$1,200
- Poor credit: $200-$2,500
4. Commercial Property Insurance
- Protects buildings, tools, equipment
- Annual premiums: $1,000-$5,000
- Based on:
- Property value
- Location risks
- Building construction type
5. Business Owner’s Policy (BOP)
- Bundles general liability and property coverage
- Often more cost-effective than separate policies
- Includes business interruption coverage
Get Alaska Plumber Liability with ContractorNerd
ContractorNerd makes plumbers insurance simple, efficient, and data-driven through:
- Instant online quotes from top carriers
- Side-by-side coverage comparisons
- Alaska-specific expertise
- Streamlined application process
- Ongoing policy management
- Claims advocacy support
Our plumbing insurance specialists help you:
- Optimize coverage for your specific risks
- Find competitive rates
- Bundle policies for savings
- Ensure compliance with state regulations
- Manage certificates and policy updates
Contact ContractorNerd today for tailored quotes and expert guidance on your plumbing insurance needs.