Water Well Drilling Insurance
North Cascade Insurance - Anacortes, Auburn, Everett, Islanders Insurance - San Juan County, Safe Harbor Insurance - San Juan County, North Cascade Insurance - Mount Vernon, Oak Harbor, Seattle, University Place

What types of insurance do water well drillers need?

The exact insurance you purchase depends on your needs. Not every water well drilling business is the same, meaning no two water well drilling business insurance policies will be the same. However, there are general insurance coverages any well-drilling company should consider.

• Business Property: The success of your well-drilling business relies on your equipment to get the job done. Commercial property insurance can offer you a financial safety net if disaster hits and your business’s property is damaged and needs to be repaired or replaced. Some of the claims we have seen are Theft, Vandalism, Fire, Weather and more. 
• General Liability: Depending on the claim, this coverage protects your company if you cause harm or damage to someone else or their property.
• Commercial Auto: For Well Drillers this can be tricky. Your Commercial auto policy covers the vehicle or truck, but what about your attached and detached equipment such as welders, pipes or casings, toolboxes or even the drill rig itself? Call us to discuss the unique coverages needed to protect your investment.
• Inland Marine: Unfortunately, your commercial property insurance doesn’t cover your well-drilling equipment. This policy is specifically designed to protect your equipment and tools, whether it’s at a drill site or in your work yard.
• Workers Compensation: If any employees are injured or become ill on the job, this insurance can cover the payment of their medical expenses, lost wages, and rehabilitation costs.
• Equipment Breakdown: You never know when expensive equipment will break down. Equipment breakdown coverage will help if you can’t afford the sudden replacement or repair of equipment vital to your company’s success.
• Pollution Liability: Covers bodily injury claims, cleanup, and property damage caused by pollutants on properties where you’ve drilled water wells.

Is the drilling equipment on my truck covered under my auto policy?

Unfortunately, many tools and equipment located on your truck are not covered under your commercial auto policy in Washington State. As a good rule of thumb, your commercial auto insurance won’t cover anything that’s not “bolted down” to the vehicle but it still needs to be listed properly. To adequately protect your tools while they’re in your car, you’ll want inland marine coverage. As mentioned above, inland marine insurance covers business property that can be moved or transported.

How much does well-drilling insurance cost?

Earlier, we mentioned that no one well drilling contractor insurance policy looks like another. The same can be said for your premium as well. Because there’s so much variation between well-drilling businesses, there’s no precise estimate you can expect for your premium. However, we can tell you what factors can influence your premiums.

• Your business’s location
• Claims history
• Size of your operation
• Number of employees
• Your chosen deductible

You’ve worked hard to build your water well drilling business. The next step is to protect it. We’re happy to help you identify your needs and provide solutions to protect them.

We’d love to chat with you. Contact Leavitt Group Northwest today!