As a plumber in New Hampshire, having proper insurance coverage is essential for protecting your business, meeting state requirements, and securing contracts. This comprehensive guide breaks down the necessary insurance coverages New Hampshire plumbers need, including costs based on our analysis of actual quotes from leading carriers. We’ve analyzed over 900 plumber quotes to provide accurate, data-driven insights into insurance costs and coverage options specific to the plumbing industry in New Hampshire.
Access our guide to plumbing contractor protection options.
General Liability Insurance for New Hampshire Plumbers
Based on our analysis of over 900 plumber quotes from leading carriers, here are the typical general liability insurance costs for New Hampshire plumbers:
Average Annual Premiums and Revenue Percentages
Revenue Size | Average Premium | % of Revenue | Favorable Rate | Potential Savings |
---|---|---|---|---|
$150K | $7,500 | 5.0% | $4,800 | 36% |
$500K | $19,300 | 3.9% | $16,500 | 15% |
$1M | $38,800 | 3.9% | $31,200 | 20% |
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 plumbing work
- Bodily injury to clients or bystanders
- Products and completed operations coverage
- Water damage from plumbing failures
- Defense costs for covered claims
Worker’s Compensation Insurance for New Hampshire Plumbers
Worker’s compensation insurance is mandatory for New Hampshire plumbers with employees. Based on our analysis:
Cost Per Employee
Average annual cost per plumber employee: $10,660
Cost Per Payroll
Rate per $100K of payroll: $3,800
Key factors affecting premiums:
- Job classification (Code 5183 for plumbers)
- Annual payroll
- Claims history
- Safety programs
- Experience modifier rating (EMR)
Coverage includes:
- Medical expenses for work-related injuries
- Lost wage replacement
- Rehabilitation costs
- Death benefits
- Legal defense for work-related injury claims
Additional Business Insurance for Plumbers in New Hampshire
1. Commercial Auto Insurance
- Annual cost: $1,500-$3,050 per vehicle
- Standard limits: $100K/$300K/$100K
- Coverage for business-owned vehicles
- Protection for tools and equipment in transit
- Liability coverage for accidents during business use
2. Tools & Equipment Coverage
- Annual premiums: $200-$2,000
- Policy limits: $5,000-$15,000+
- Per-item limits typically $5,000
- Coverage for theft, damage, and loss
- Protection at job sites and in transit
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
- Required for certain licenses and contracts
4. Commercial Property Insurance
- Protects buildings, tools, and equipment
- Annual premiums: $1,000-$5,000
- Coverage based on property value
- Protection against fire, theft, and natural disasters
- Business interruption coverage available
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
- Customizable for plumbing businesses
- Simplified policy management
Get New Hampshire Plumber Liability with ContractorNerd
ContractorNerd’s insurance experts make getting plumber liability and business insurance simple, efficient, 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 specialized network helps New Hampshire plumbers:
- Find optimal coverage based on specific risks
- Secure competitive rates through multiple carriers
- Bundle policies for maximum savings
- Ensure compliance with state regulations
- Access plumbing industry expertise
Whether you’re a solo plumber or managing a larger plumbing company, our team understands the unique insurance needs of New Hampshire plumbing contractors. We leverage our relationships with leading carriers and extensive industry data to find you the most comprehensive coverage at competitive rates.
Visit our online quote tool or speak with a plumber insurance specialist to get started with tailored coverage for your plumbing business.