As a plumber in Maryland, 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 Maryland plumbers need, including costs based on our analysis of actual quotes from leading carriers.
Find out what plumber liability coverage can do for your business.
General Liability Insurance for Maryland Plumbers
Based on our analysis of actual quotes from leading carriers, here are the typical general liability insurance costs for Maryland plumbers:
Revenue Size | Average Premium | % of Revenue | Favorable Rate | Potential Savings |
---|---|---|---|---|
$150K | $6,200 | 4.1% | $4,300 | 31% |
$500K | $15,300 | 3.1% | $13,600 | 11% |
$1M | $30,800 | 3.1% | $24,800 | 19% |
These premiums assume:
- Clean claims history (5+ years without incidents)
- Standard coverage limits
- Mix of residential and commercial work
- Approximately 10% subcontractor costs
Worker’s Compensation Insurance for Maryland Plumbers
Worker’s compensation insurance is mandatory for Maryland plumbers with employees. Based on our analysis:
Metric | Cost |
---|---|
Cost per Employee | $7,230 |
Cost per $100K Payroll | $2,600 |
Key factors affecting premiums:
- Employee classification codes (mainly 5183 for plumbers)
- Annual payroll
- Claims history
- Safety programs
- Experience modifier rating (EMR)
Additional Business Insurance for Plumbers in Maryland
1. Commercial Auto Insurance
- Annual premiums: $1,500-$3,050 per vehicle
- Standard limits: $100K per person, $300K per accident
- Higher limits ($500K-$1M) recommended
2. Tools & Equipment Coverage
- 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%
- Good credit: 2-3%
- Poor credit: 3-5%
4. Commercial Property Insurance
- Protects buildings, tools, equipment, and inventory
- Annual premiums: $1,000-$5,000
- Coverage based on property value and location
5. Business Owner’s Policy (BOP)
- Bundles general liability and property coverage
- Often more cost-effective than separate policies
- Additional coverages available as add-ons
Get Maryland Plumber Liability with ContractorNerd
ContractorNerd makes plumbers liability and business insurance simple, efficient, and data-driven through:
- Instant online quotes from top-rated carriers
- Side-by-side coverage comparisons
- Plumber-specific expertise
- Streamlined application process
- Ongoing policy management
- Claims advocacy when needed
Our team of specialists helps Maryland plumbers:
- Optimize coverage levels for specific risks
- Find competitive rates through our carrier network
- Bundle policies for additional savings
- Ensure compliance with state regulations
Visit our online quote tool or speak with our plumber insurance specialists to get started with tailored coverage for your business.