3 Tips for Choosing Electrician Insurance Coverage

When your job involves working with electricity, you undoubtedly face daily risks.

Electricians might do everything possible to practice safety while on the job, but the reality is that their job involves consistent risk, and they need to be prepared for that risk however they can.

Electricians must protect both themselves and their businesses, and the best way to do this is through purchasing electrician insurance coverage.

If you’re wondering how to find the best electrician insurance for you and your business, read on to learn the top factors you need to consider..

 1. Learn About and Get the Insurance Coverage You Need

The first step in ensuring you’re getting the right coverage is to learn about the different types of insurance and how they protect your business.

Remember, an electrician has a specialized job with some unique risks. They’ll want to make sure they have suitable types of insurance to protect them, including:

  • Commercial general liability coverage to provide insurance for accidental injuries and property damage.
  • Worker’s compensation to protect finances and individuals if the electrician is injured on the job.
  • Commercial auto policies to insure any vehicles driven for work purposes.
  • Business owners policy to bundle coverage for commercial general liability insurance and commercial property insurance.
  • Surety bonds
  • Umbrella insurance policy
  • Equipment, inland marine coverage

Work with your insurance agent to discuss more specifics based on the size and scope of your business and your work.

2. Find an Insurance Agent Who Specializes in Electrician Insurance

When you’re looking for business insurance coverage for your electrical business, don’t settle for any insurance policy. You won’t likely use the same insurer you use for personal purposes.

You need to use an insurance agency specializing in niche insurance options like electrician insurance. This means the insurance agent is specialized and has a unique knowledge to understand the needs and risks associated with the electrician profession.

Because they’re more knowledgeable, they are better able to make sure you get a policy that protects you and your business interests.

It’s essential when you find an insurance agent that you communicate with them about your business and your work. They need to know what risks you face to make sure you’re getting all of the coverage you need to offset potential damages.

3. Consider Cost and Insurer

Every business cares about its costs. So when you’re looking for a good insurance option, the cost will definitely need to be considered..

There are a variety of factors that impact the cost of your electrician policy. One of the most important cost factors is the specific policy limits you can decide on when setting up your policy.

The type of specific risks you face will also be a factor. Other factors include:

  • Company revenue
  • Location
  • Size of your service area
  • Number of employees
  • Type of policies and riders you include
  • Experience

Your technical training and years in the business will even impact some policies.

Electrician Insurance Coverage

As an electrician, you know you face certain risks connected to the work you do. You want to be sure you have the electrician insurance you need to protect yourself and your business.

Let us help you build a policy that works for you. Contact us today to learn more about our insurance options for electricians.