As a plumber in Colorado, 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 Colorado plumbers need, including costs based on our analysis of actual quotes from leading carriers.
Understanding plumbing contractor liability coverage is essential for your business.
General Liability Insurance for Colorado Plumbers
Based on our analysis of over 900 quotes from leading carriers, here are the typical costs for plumbers in Colorado:
Average Annual Premiums and Savings Opportunities
| Revenue Size | Average Premium | % of Revenue | Favorable Rate | Potential Savings |
|---|---|---|---|---|
| $150K | $9,100 | 6.1% | $4,100 | 55% |
| $500K | $20,700 | 4.1% | $13,800 | 33% |
| $1M | $42,500 | 4.3% | $24,100 | 43% |
These premiums assume:
- Clean claims history (5+ years without incidents)
- Standard $1M/$2M coverage limits
- Mix of residential and commercial plumbing work
- Approximately 10% subcontractor costs
Worker’s Compensation Insurance for Colorado Plumbers
Worker’s compensation insurance is mandatory for Colorado plumbers with employees. Based on our analysis:
- Average cost per employee: $5,400 annually
- Cost per $100K of payroll: $2,200
- Primary classification code: 5183 (Plumbing)
Key factors affecting premiums:
- Employee classification codes
- Annual payroll
- Claims history
- Safety programs
- Experience modifier rating (EMR)
Additional Business Insurance for Plumbers in Colorado
1. Commercial Auto Insurance
- Typical cost: $1,500-$3,050 per vehicle annually
- Standard limits: $100K per person, $300K per accident
- Higher limits recommended: $500K-$1M for comprehensive protection
2. Tools & Equipment Coverage (Inland Marine)
- Annual premiums: $200-$2,000
- Policy limits: $5,000-$15,000+
- Per-item limits typically $5,000
3. Plumber Bonds
- Bond amounts: $5,000-$25,000
- Premium costs (based on credit):
- Excellent credit: 1-2% of bond amount
- Good credit: 2-3% of bond amount
- Poor credit: 3-5% of bond amount
4. Commercial Property Insurance
- Protects warehouses, storage facilities, and offices
- Annual premiums: $1,000-$5,000
- Coverage for fire, theft, vandalism, and weather damage
5. Business Owner’s Policy (BOP)
- Bundles general liability and commercial property
- Often more cost-effective than separate policies
- Includes business interruption coverage
Get Colorado Plumber Liability with ContractorNerd
ContractorNerd makes getting plumbing insurance simple and data-driven. Our platform offers:
- Instant online quotes from top-rated carriers
- Side-by-side coverage comparisons
- Plumber-specific expertise and guidance
- Streamlined application process
- Ongoing policy management support
- Claims advocacy when needed
Our team of plumbing insurance specialists helps you:
- Optimize coverage based on your specific risks
- Find competitive rates through our carrier network
- Bundle policies for additional savings
- Ensure compliance with Colorado regulations
Contact ContractorNerd today for tailored quotes and expert guidance on your plumbing insurance needs.