We’ve got you and your electrical business covered from A to Z…
Whether you run your own electrician business (electrical contracting business) or are an independent contractor in Alberta, electrician insurance is essential. At Collis Insurance, our experienced brokers work with you to understand your insurance needs and provide coverage that compliments and protects your business/assets.
Scenarios and Examples – Why You Need Insurance for Electricians
Accidents happen – You work on your client’s property
Imagine one of your employees is tired and accidentally installs wiring incorrectly, which causes a fire that damages the a client’s house or building. Commercial General Liability assist with the defence costs and damages to repair the building.
Consider your ladder gets accidentally pushed over and damages an expensive sculpture, shatters a client’s window, or a client trips on an extension cord. Commerical General Liability will cover the associated costs and possible legal fees of these types of claims.
You have contracts with clients
A contract outlines requires that you maintain a certain minimum level of Commercial General Liability to do your work on a site. Commercial General Liability assists you to do business with bigger clients and protects your legal liabilities at the same time.
What Does Electrician Insurance Cover?
The following are only a sample of common coverages that electricians may need, are available in most packages, or can be added as supplemental policies. Working with you, one of our brokers will help identify which coverages are in your best interest based on risk and obtain quotes from multiple insurers to get you the best value for your money.
Commercial General Liability Insurance
Commercial General Liability protects you financially from unexpected accidents that may happen. Commercial General Liability also known as CGL insurance, covers the day-to-day risks involved with operating a contracting business.
The policy automatically covers actions / work of employees performing work on your behalf. Additionally, the policy will typically cover damage to the premises your business leases (Tenant’s Legal Liability) as well as any damages you may cause to your neighbors.
This policy will also respond to customer / third party injuries and property damage. If an electrical fire breaks out and damages your client’s property, commercial general liability insurance gives you funds to help repair the damage.
Property Insurance for Electricians
Protecting your physical assets / property and contents is important in recovering from a loss. Property insurance covers the building you operate out of (if owned), leasehold improvements if leased, as well as your warehouse tools / equipment, electronics, offices contents, you have that doesn’t leave the premises. In cases of an insured loss, property insurance will provide funds to repair or replace damage to your property and help you get back to running your nonprofit as quickly as possible.
Please note that commercial property insurance normally excludes or substantially limits the items taken off-property, and if not covers only small limits.
Contractor’s Equipment or Tool Insurance
If you are an electrician, you know that losses for contractors are unfortunately not a rare event. In fact, a survey found construction companies experience an average of two thefts per year with losses averaging almost $2000 for tools. If you have Portable Hand Tools or larger Contractors Equipment that leaves the premises, these items needs to be added to your Commercial insurance. Portable Tools / Contractors Insurance helps transfer the risk of larger losses to the insurer, allows you to rent replacement equipment to finish your jobs wile arranging for new equipment. The small losses (under the deductible) become the insured clients’ loss. Tools and Contractor’s Equipment Insurance allows you to get back to your job(s) quicker and protects your maximum out of pocket of a loss. .
Commercial Auto Insurance for Electricians
Electricians travel often between work locations and job sites. Whether you travel in your own personal vehicle or have a commercial truck or van, commercial auto insurance is crucial. Commercial auto insurance can protect you financially from auto collisions, cover damage to your auto and provide funds to defend yourself legally whether or not you are at fault for the claim.
Legal Expense Insurance
Sometimes there are legal issues that crop up for businesses that fall outside the scope of traditional insurance and yet, you may still have to pay a lawyer to help you resolve the issue. For example, contractual issues with vendors, customers not paying their bills, Occupational health and safety matters, disputes with the government. For these types of instances, we can look to place a small Legal Expense insurance policy to transfer the risk of these legal expenses / business exposures to an insurer.
Another great benefit of legal expense insurance is that there is a free Legal Advice Help line available, where you can call in with day to
What are the Benefits of Electrician Insurance?
- Meet Contractual obligations / allows you to work with bigger clients
- Financial / Asset Protection – A small cost for unexpected events.
- Peace of Mind
- Clients/customers feel more secure
- At Collis Insurance, you get the coverage / price combination.
Types of Professions that Need Insurance for Electricians
- Residential electricians
- Commercial electricians
- Industrial electricians
- installation electricians
- Maintenance electricians
- Utility workers / Linesman
- HVAC technicians
- Electrical Engineers
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FAQ
FAQ
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Do Electricians need Insurance?
Electricians – whether operating as a business or on a sole proprietor basis – need business insurance. Without insurance, associated expenses and fees of unexpected accidents can pile up quickly, which can put your business and profession at risk.
How much does Electrician Insurance cost?
The cost is dependent on a variety of factors, some of which include the size of your business, years of experience, training, annual revenue, type of work done and limits / coverages needed.
How do I make sure I'm getting the right insurance coverage for my business?
Our brokers take time to understand your specific business exposures and more to provide a tailored policy and additional protection areas that fit your business insurance needs/budget.
Have a question?
Your trusted Collis Insurance Business Insurance Broker can help and also offer additional coverage for consideration, like Cyber & Privacy Liability, Legal Expense Insurance, and other relevant coverage.