As a plumber in Illinois, protecting your business with proper insurance coverage is essential for meeting state requirements, securing contracts, and safeguarding your financial future. This comprehensive guide breaks down the necessary insurance coverage Illinois plumbers need, including detailed costs based on our analysis of over 900 quotes from leading carriers. Whether you’re a solo plumber or manage a larger plumbing company, understanding your insurance options and costs is crucial for your business’s success and protection.
Access important details about plumbing company coverage requirements.
General Liability Insurance for Illinois Plumbers
Based on our analysis of over 900 plumber quotes from leading carriers, here are the typical general liability insurance costs for Illinois plumbers:
| Revenue Level | Average Premium | % of Revenue | Favorable Rate | Potential Savings |
|---|---|---|---|---|
| $150K | $7,910 | 5.3% | $4,480 | 43.4% |
| $500K | $19,920 | 4.0% | $14,260 | 28.4% |
| $1M | $41,700 | 4.2% | $28,050 | 32.7% |
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
Key coverages include:
- Property damage
- Bodily injury to third parties
- Products and completed operations
- Personal and advertising injury
- Damage to rented premises
Worker’s Compensation Insurance for Illinois Plumbers
In Illinois, workers’ compensation insurance is mandatory for plumbing contractors with employees. Based on our analysis:
Average cost per plumber employee: $10,370 annually
Cost per $100K of payroll: $4,300
Key factors affecting premiums:
- Job classification (Code 5183 for plumbers)
- Total annual payroll
- Claims history
- Experience modifier rating
- Workplace safety programs
Additional Business Insurance for Plumbers in Illinois
1. Commercial Auto Insurance
- Typical cost: $1,500-$3,050 per vehicle annually
- Standard limits: $100K per person/$300K per accident/$100K property damage
- Higher limits recommended ($500K-$1M)
2. Tools & Equipment Coverage
- Annual premiums: $200-$2,000
- Policy limits: $5,000-$15,000+
- Per-item limits typically $5,000
- Covers theft, damage, and loss during transit
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: $300-$1,000
- Poor credit: $500-$2,500
4. Commercial Property Insurance
- Protects buildings, tools, and equipment
- Annual premiums: $1,000-$5,000
- Coverage 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 Illinois Plumber Liability with ContractorNerd
ContractorNerd makes plumbers insurance simple and data-driven through:
- Instant online quotes from A-rated carriers
- Side-by-side coverage comparisons
- Plumbing-specific expertise
- Streamlined application process
- Dedicated 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 maximum savings
- Ensure compliance with state regulations
- Manage certificates of insurance
Start protecting your plumbing business today with customized quotes from ContractorNerd’s specialized platform.