Electricians have the difficult and dangerous job of working with “live” electrical current. Since one simple mistake can have disastrous results, it’s vital to learn and religiously practice electrical safety. Read more
Accidents happen; a lot, actually. Especially when you’re working as an electrical contractor on a site that may or may not be a little bit riskier than usual. Walls may fall, electrical cords may shock and unsuspecting people may end up in compromising situations on your work site. And that’s just the short version of all the things that can go wrong. So, to protect yourself you may want to consider getting electrical contractors liability insurance. Here’s what you need to know.
Electrical Contractors Liability Insurance
Regardless of whether or not you are an independent contractor and you work on your own, or, if you are a general contractor who employs multiple electricians there is a high likelihood that you will need electrical contractors liability insurance. Why? Because no one you hire (not even you) is entirely immune from the repercussions of an accident. We wish that wasn’t the case, but, an accident free work zone has not yet been invented (even if you use the proper procedures and precautions). But, that’s not the only reason why you need to get the proper coverage.
Liability insurance, or electrical contractors liability insurance, is required by law in most states. And, when it’s not, it’s typically required in the contract you sign when you begin a project. It will cover you, and your employees, in the event of an accident (which we have defined below).
- If a customer injures his or herself on your worksite
- If you or your employees cause property damage on your site (or off it)
- Any litigation that the injured party (or property owner) brings before you
In all of those situations, your insurance company will take the necessary steps to ensure that, what could end up being a potential headache, becomes something that you can simply brush over. That protection should ensure that you can spend less time worrying about your coverage and more time worrying about taking care of your business. We’re sure you have enough on your plate already, so don’t let insurance get in the way.
For a while, one of my family members was an electrical contractor. You might ask, why only for a while (after all, it pays fairly well)? Well, because there’s apparently nothing more terrifying then standing next to a live wire that is conducting over 100 volts (which is more than enough to cause you serious damage). There is equipment designed to protect you from harm but, there are times where equipment is forgotten or malfunctions which can leave you in a very vulnerable position. To avoid being placed in such a vulnerable position you may want to consider acquiring electrical contractors insurance. It will protect you from lawsuits, property damage, injury and so much more. Here’s what you need to know.
Electrical Contractors Insurance – Who Needs It?
It might be surprising but this policy isn’t just for electrician’s. Electrical contractors insurance (at least the basic kind) is for all contractors who work in the electrical trade. So, whether you’re an HVAC specialist or a construction company involved in the electrical trade you’re going to need some kind of electricians insurance. The extent of your coverage will depend on your contract, local rules and regulations and state laws so be sure to brush up on those before you meet with your insurance provider. Although, if you need help we’re sure they won’t hesitate to lend you a helping hand.
What Policies are Included Under an Electrical Contractors Insurance Policy?
At this point, you might be wondering why there are multiple policies tied in under your electrical contractors insurance policy. Wasn’t the point of electrician’s insurance that you would only have to pay for one all encompassing policy? Unfortunately, the insurance industry doesn’t work that way and the diversity of the coverage involved depends on the type of work (and risk) associated with that individual electrical contractor. Fortunately, that means this policy is fairly flexible if you choose the right provider (though there are mainstays like workers compensation and general liability insurance).
The right provider will ensure that your policy is specific to your needs, fits within your budget and does not include unnecessary coverage. Insurance should be flexible, not rigid because contractors are a very diverse group of professionals (and your insurance should reflect that). If you have any further questions please feel free to contact us at 1-800-649-9094. We look forward to hearing from you!