As a plumber in Minnesota, having proper insurance coverage is crucial for protecting your business. This guide breaks down essential insurance coverages Minnesota plumbers need, including costs based on our analysis of actual quotes from leading carriers.
Get valuable insights about plumber business protection plans.
General Liability Insurance for Minnesota Plumbers
General liability insurance protects your plumbing business from third-party claims of property damage and bodily injury. Based on our analysis of over 900 plumber quotes, here are the typical costs for Minnesota plumbers:
Average Annual Premiums by Revenue Size
| Revenue Size | Average Premium | % of Revenue | Favorable Rate | Potential Savings |
|---|---|---|---|---|
| $150K | $8,100 | 5.4% | $3,500 | 57% |
| $500K | $21,200 | 4.2% | $8,600 | 59% |
| $1M | $41,200 | 4.1% | $19,300 | 53% |
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 Minnesota Plumbers
Worker’s compensation insurance is mandatory for Minnesota plumbers with employees. Based on our analysis:
- Average cost per employee: $10,400 annually
- Premium per $100K payroll: $3,700
- Classification code: 5183 (Plumbing)
Key premium factors include:
- Employee classification codes
- Annual payroll
- Claims history
- Safety programs
- Experience modifier rating (EMR)
Additional Business Insurance for Plumbers in Minnesota
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)
2. Tools & Equipment Coverage
- Annual premiums: $200-$2,000
- Policy limits: $5,000-$15,000+
- Per-item limits typically $5,000
3. Plumber License Bonds
- Bond amounts: $5,000-$25,000
- Premium: 1-3% of bond amount based on credit
- Required for licensing
4. Commercial Property Insurance
- Protects buildings and contents
- 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 Minnesota Plumber Liability with ContractorNerd
ContractorNerd specializes in making insurance simple and data-driven for Minnesota plumbers. Our platform offers:
- Instant online quotes from top-rated carriers
- Side-by-side coverage comparisons
- Plumbing-specific expertise and guidance
- Streamlined application process
- Ongoing policy management support
- Claims advocacy when needed
Our team of plumbing insurance specialists understands Minnesota’s unique requirements and can help you:
- Optimize coverage levels based on your specific risks
- Find competitive rates through our carrier network
- Bundle policies for additional savings
- Ensure compliance with state regulations
To get started with tailored quotes for your Minnesota plumbing business, visit our online quote tool or speak with one of our plumbing insurance specialists today.