Working in a professional trade exposes you to some very high-risk situations. Electrical Contractors Insurance includes a package of coverage designed to protect you from the risks and perils faced every day. We offer insurance for over 450 different trades, giving you the protection you need, at the right price
The category of Artisan Contractors, also known as casual contractors, includes many occupations that involve skilled work with tools, equipment and parts at the customer’s premises. Electricians and Electrical Contractors are some of them.
Electrical contractor insurance needs of this group include coverage for equipment and tools and also the dangers of working with low voltage and high voltage electrical systems.
For many electricians, the most cost effective and efficient way to obtain property insurance and liability coverage is with a Business Owners Policy (BOP) especially tailored to their needs. Although marketed under a variety of names, these policies will typically have provisions similar to the BOP’s.
Electrical installer insurance protects your business from lawsuits with rates as low as $47/mo.
General liability insurance is a common type of commercial liability insurance coverage. Policies typically include coverage for bodily injury and property damage. Coverage is also available for advertising injury, which may include libel, slander and copyright issues. Coverage details vary, so it’s important to select the policy the best meets your company’s liability needs.
A tools and equipment floater covers the insured property wherever it is used and may include such items as hand tools, power drills, hoisting machines and power pumps.
General Liability Insurance Includes:
General liability is included in a business owners policy, or BOP. A BOP provides you with additional electrical contractor insurance protection for your company assets. Asset protection includes tangible items such as your electrician tools, and intangible assets such as your company payroll. Other examples of BOP coverage options include:
Given the possibility of a lawsuit should someone claim to have been harmed by your work, you will almost certainly need liability insurance.
If working as a subcontractor, your customer may require you to have Owners and Contractors Protective Liability (OCP) coverage. This protects either a property/business owner or a general contractor from possible liability arising from the negligent acts of an independent contractor or subcontractor hired to perform work on behalf of the insured. The actual purchaser of the policy is the independent contractor or subcontractor, but the protection is for the benefit of the property/business owner or general contractor for whom the work is being done.
Also refereed as Business Vehicle Insurance, your personal auto policy probably provides coverage for your electrical contractor in business use of your truck, van or other vehicle. A personal auto policy is unlikely to provide coverage, however, if the vehicle in question is used primarily in business. It will not provide coverage for any vehicle owned by a business. For those vehicles you must have a business auto policy.
If you’re driving a truck you own personally for a business purpose and get into an accident for which you are liable, an injured person could sue you personally. Will your personal auto policy have enough coverage to pay all the damages? If not, a lawsuit may be filed against your business. If you use personal vehicles for business, you want to be sure you have high enough limits to protect your business. You should discuss this with your electrical contractor insurance agent.
This electrical contractor insurance is a must so don’t let the term “inland marine” confuse you. As opposed to “marine insurance,” which covers products when transported over water, inland marine insurance covers products, materials and equipment when transported over land—e.g., via truck or train—or while temporarily warehoused by a third party. Collisions and cargo theft are the two most frequent causes of inland marine losses.
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