Insurance for Electricians and Electrical Contractors

One wrong installation could lead your business to bankruptcy, should it cause financial harm to your customer and they sue you. Monthly payments for your insurance are better than the need for huge amounts of cash over a short period of time to pay for court and legal fees.

Having an electrical contractor business is not without its risks, which include:

• Malfunction of a product supplied to the customer, which can cause destruction of their property. If the customer sues, you’ll be responsible for paying for any court costs, legal fees and settlements related to the claim.
• Illness or injury to employees on the job, in which case you’ll be responsible for medical and rehabilitation costs as well as lost wages.
• Warehouse flooding resulting in the destruction of electronic parts. Restocking inventory will come out of your own pocket.

These are just a few of the many risks that electrical contractors can face.

There are several factors that determine the cost of insurance. Most of the time insurance carriers will need to know the type of business you own, the number of employees you have and the coverage you need. Some can also ask for additional information.

To get the cost of your insurance policy, apply for a free and no-obligation quote online or simply give our customer service agents a call.