Electricians & Electrical Contractors
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Electricians & Electrical Contractor's Insurance
Depending upon how your business is structured, you may do most of your work on specific job sites and away from your main office. You may also allow your employees to use their own tools when working on company jobsites. You may have added risks of equipment and supplies being stolen from job sites and you must keep track of advanced technology in the form of computers and software that help you take care of business. All of these risks combine to create additional stress and headaches for electricians that run a small business, but there are several types of commercial business insurance packages that can ease that stress and worry so that you can get on with completing your jobs.
Electrician General Liability Insurance
General liability insurance protects your company and the electricians you have on your staff from miscellaneous accidents, damages or loss. General liability protects your company from lawsuits if a customer injures himself while inspecting the progress of your work at a job site for example, and it takes care of other types of damage or loss that might not be specifically covered elsewhere in your business insurance policy.
Electrician Business Owners (bop)
Business owners insurance policies are designed to protect the structures that your business operates in as well as the contents inside your structures. As an electrician you may find that most of your business activities happen outside of a specific office building, however if you use a warehouse to store tools, electrical wiring, fuses and other parts or products that you use to provide services to your customers, business owners insurance can help protect your company from the loss of those buildings and the contents inside of them.
Electrician Commercial Auto Insurance
Since you and the electricians you employ frequently travel by passenger vehicle, work trucks or crew vans to and from various job site locations, commercial auto insurance is a critical coverage your company needs. Business auto insurance absorbs the loss of a vehicle and the equipment inside when accidents occur. Depending upon the level of coverage you choose, your commercial auto insurance policy will pay for damages in the event of a roll over, theft and collisions. If your employees or other drivers are injured in an accident, the auto insurance will pay for related medical and emergency services as well.
Electrician Workers Comp Insurance
Workers comp insurance provides for your employee's needs if they are injured on the job. If one of your electricians gets shocked from residual energy in a line he is working on, workers comp will pay for his emergency medical care, lost wages, and ongoing medical needs if applicable. Workers comp insurance is required by law.
Surety bonds are guarantees that you will fulfill any obligations that you agreed to by contract. If you contract with a client to perform specific services for example, a surety bond will provide a guarantee, or penalty that says if you do not meet the terms of the contract that you agreed to with your client, that client will receive a sum of money for damages and compensation.