Working on electrical systems, whether in a home or at a business, can be dangerous. Self-employed electricians or electrical contractors deal with unique risks because they handle, Live wires, Active Circuits and Specialized equipment. We can help manage the associated risks with right insurance.
General Liability Coverage
Your employee repaired an electrical appliance of a client, but due to faulty wiring it caused a fire and damaged the house of the client
Your general liability policy would cover the cost of repairs for the damages done by your employee.
Commercial Property Insurance Coverage
A fire breaks out in your office complex and spreads to your storage area, destroying much of your equipment and tools.
Your commercial property insurance would help you cover the loss
Commercial Auto Coverage
If any of your company vehicles are involved in an accident, you have to pay for third-party bodily injury, property damage, or pollution cleanup.
Commercial Auto policy would cover any expense for the medical care of the other driver and repair his property
Worker’s Compensation Coverage
To change the wiring on the roof, your employee uses ladder to climb onto the roof and while doing that he slips and falls. He needs medical care and cannot work until he recovers.
Workers’ compensation would pay for his medical bills and a portion of lost income while he recovers and is unable to work.
Electrical contractor insurance is designed to protect electricians and the company they work for (if not self-employed) from damage due to negligent work and injuries caused/sustained during a day on the job. It can also protect against damage to, or theft of, company property.
General Liability:
An essential coverage for electrical contractors. It protects against lawsuits or other financial liabilities that result from a wide range of accidents like a fire caused by faulty work.
Commercial Auto:
Typically needed if you use your vehicle to transport work supplies like parts, testing equipment and other tools. We offer protection for a variety of vehicles including cargo vans and pick-up trucks.
Business-owners policy:
Extends general liability coverage to protect things like your commercial buildings and personal property.
Workers Compensation:
Coverage for your employees who become ill or injured while on the job.
The cost depends on several factors including the size of the business and its location, as well as its gross sales/receipts and payroll. A solo contractor working out in the middle of nowhere in Kansas might only pay a few hundred dollars per year, whereas a giant company in, say, NYC might pay more than a million annually.
It’s typically expected, however, to be at least in the low thousands. That’s because of the large amount of risk involved in working with electricity itself, and the involvement of other people and property in the process.
We will review your needs and help you evaluate which electrical contractor insurance policy makes the most sense for you. We’ll also compare policies and quotes from multiple insurance companies to make sure you have the best protection out there. Contact us to know more !
It might be time to switch insurers whenever the service that your existing insurer provides doesn’t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options
If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.
Contact us today to help you with multiple options to choose from.