Few trades face as many daily risks as electricians. While carpenters and plumbers provide vital services, electricians often wrangle some of the toughest and most hazardous residential or commercial tasks. This also includes the repair of high-voltage transmission lines and intricate wiring setups hidden behind walls. An essential part of running an electric business is managing risk and liability. As an electrician in Manitoba, you know that just because the job is done doesn’t mean your risk disappears. After all, there is plenty of liability to go around in electrical work. Your customers put a lot of money into repairs and renovations that they hire you to do, they’re also concerned about their own protection. Making sure you have electricians insurance builds your reputation with current and potential customers.
Why Do I Need Electrician Insurance Coverage?
You and your employees need electricians insurance to protect yourselves beyond the job site. You must also guard against future claims of property damage stemming from your work. Electricians insurance covers all these areas, incorporating multiple insurance components into one policy tailor-made for this industry. In the event of an unexpected loss, you will need to get your business back in business and that’s where Electricians Insurance comes in. You may think that an off the shelf policy with general liability covers your needs as an electrician, but our electrician’s insurance is customized specifically for you to offer full protection. And you can buy it online.
Understanding Electricians Insurance
CGL or Commercial General liability insurance is often the first and most important consideration for an electrical contractor. It ensures your work will be protected against claims in the future should something go wrong. In addition to being a nice-to-have, it is often a requirement for work. For example, if a client hires you for a large project you will need proof of insurance to get a permit.
If you want a policy that can offer full protection, extensions to your electrician’s insurance commercial general liability coverage are an ideal solution. If you employ others, insurance that helps to pay for workers compensation claims is an important tool to have. So is a “Business Owner’s Policy,” or BOP. These policies extend your coverage to any buildings the business uses. This includes your office, along with the company’s real property, i.e. tools and equipment. Insuring your premises and your employees helps protect your business from the consequences of unexpected developments, like a workplace accident.
Another very important coverage included within our electrician’s insurance policy is an installation floater. An installation floater covers your materials, equipment and supplies used for installation while on your customer’s premises or while in transit.
There’s, even more, to consider when it comes to electricians insurance. Do you own any commercial equipment? If so, you will need an equipment coverage limit to protect against any threats to this vital equipment owned by your business. Looking at CGL insurance, commercial general liability insurance, BOPs, and additional coverage options. It’s easy to see electricians insurance is not just one policy but many smaller policies that protect your electric business.
What determines the cost of electricians insurance?
There are a couple of different factors that play into the cost of your electricians insurance policy. Generally, the main factors behind the cost are:
Connect with Us for a Policy Customized Specifically for You
An electrician’s work is critical for functional homes and offices, but it does come with dangers. Aside from protecting employees on the job, you also need to protect your business from the many risks it faces. With so many different policies, what do you do when you just need a great electrician’s insurance policy? It’s time to connect with us and Get a Quote.
With experience in electrician insurance, we assess your business’s insurance requirements and provide an in-depth insurance policy. Contact us online or call us today for prompt, professional assistance for your electrical industry insurance needs.