As a plumber in Wyoming, 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 Wyoming plumbers need, including costs based on our analysis of actual quotes from leading carriers.
Don’t let your business spring a leak – secure comprehensive plumber insurance.
General Liability Insurance for Wyoming Plumbers
Based on analysis of over 900 plumber quotes from leading carriers, here are typical general liability costs for Wyoming plumbers:
Revenue | Average Premium | % of Revenue | Favorable Rate | Potential Savings |
---|---|---|---|---|
$150K | $6,200 | 4.1% | $3,500 | 44% |
$500K | $16,800 | 3.4% | $14,000 | 17% |
$1M | $34,300 | 3.4% | $27,500 | 20% |
Premiums assume:
- Clean claims history (5+ years)
- Standard $1M/$2M limits
- 10% subcontractor costs
Worker’s Compensation Insurance for Wyoming Plumbers
Wyoming requires workers’ compensation for plumbing companies with employees. Based on our analysis:
Metric | Cost |
---|---|
Premium per Employee | $7,490 |
Premium per $100K Payroll | $3,000 |
Key factors affecting premiums:
- Employee classification (Code 5183 for plumbers)
- Total payroll
- Claims history
- Safety programs
Additional Business Insurance for Plumbers in Wyoming
1. Commercial Auto Insurance
- $1,500-$3,050 per vehicle annually
- Standard limits: $100K/$300K/$100K
- Higher limits recommended ($500K-$1M)
2. Tools & Equipment Coverage
- $200-$2,000 annually
- $5,000-$15,000+ policy limits
- $5,000 typical per-item limit
3. Plumber Bonds
- Bond amounts: $5,000-$25,000
- Premium: 1-3% of bond amount
- Rates vary by credit score
4. Commercial Property Insurance
- $1,000-$5,000 annually
- Protects buildings, tools, equipment
- Coverage based on property value
5. Contractor’s E&O Insurance
- $50-$500 annually
- $10,000-$1M+ policy limits
- Covers professional negligence claims
Get Wyoming Plumber Liability with ContractorNerd
ContractorNerd specializes in plumber insurance solutions:
- Instant online quotes from top carriers
- Coverage comparisons
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- Streamlined applications
- Ongoing policy management
- Claims advocacy
Our insurance experts help:
- Optimize coverage levels
- Find competitive rates
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- Ensure state compliance
Contact us for tailored quotes for your Wyoming plumbing business.