The first time the power goes out over the winter can be pretty exciting (especially if you are a kid, or if you enjoy being able to disconnect for a while). But, a few hours later that novelty begins to wear off. It gets cold, the candles are dripping wax everywhere and everyone is probably getting a little fed up with the overall lack of technology (you can only play Monopoly for so long). As much as we complain about our technology, basic necessities like heat are nice to have around when the temperature drops below 32 degrees. Electrician’s work tirelessly during the winter to ensure that we all do not collectively freeze to death (which we are especially grateful for). So, if you are an electrician we would like to say thank you, and, we would also like to remind you to make sure that you are adequately insured for at least the next few months. If you are unsure of what policies you need, or if you need electrician’s insurance do not worry. We have detailed some policies you will need as well as which contractors will need which policies.
Who needs electrician insurance?
Surprisingly, electrician’s insurance is not restricted to just electrician’s. There are a few other contractors who may need electrician’s insurance. If you are in the electrical trade there is a good chance your business will have to acquire this policy so be sure to consult with your provider to make sure you are adequately covered. If you do not have a provider feel free to give us a call at 1-800-649-9094 and we will find out how to get you the best coverage for your business.
What policies are typically included in electrician’s insurance?
The policies included in an electrician’s insurance policy typically vary from contractor to contractor (the needs of an HVAC specialist are probably a little different from that of a lighting technician). For that reason (and so you do not have to read a novel’s worth of insurance) we have included the 3 most popular policies.
- General Liability Insurance
General liability insurance is designed to protect you, and your business, in the event of an onsite accident where a visitor is injured or when you or your employees inflict damage on an offsite location. Liability insurance will cover the cost of the damage and any associated legal fees and litigation associated with the accident. This policy is required by most states and contracts so be sure you have liability insurance in your insurance arsenal.
- Workers Compensation Insurance
Workers compensation is also required by law in most states so if you do not have it you will want to acquire it as soon as you possibly can. Workers comp will cover any medical bills associated with a work related injury (both sudden and those caused by repetitive action). It will also cover two-thirds of your employees salary until they are able to return to work. Without this policy you could fall victim to a very expensive lawsuit so be sure to not leave home without this one.
- Business Owner’s Policy (BOP’s)
Business owner policies allow you to combine an assortment of insurance policies into one package. This will simplify your payments, make it easier for you to understand where and when you are covered as well as what additional policies you may need to acquire in the future. You might even get a discount when you start a BOP (but that will depend on your provider).
If you have any further questions about electrician’s insurance please feel free to give us a call at 1-800-649-9094. We look forward to hearing from you!