Insurance for Electricians Running a Small Business

Electricians running a small business face unique risks and challenges, making insurance for electricians an essential safeguard. Electricians face hazards such as handling live wires, active circuits and specialized equipment, which could lead to injuries, property damage or lawsuits.

What Types of Insurance Do Electricians Need?

Electricians should consider the following coverage to help financially protect their businesses:

• General liability insurance—This is the cornerstone of any business insurance plan. It can assist in covering the costs of third-party property damage and bodily injuries that may occur during your work. For example, if faulty wiring leads to a fire, general liability insurance may help with medical bills, legal fees and settlements.

• Commercial property insurance—This policy can help financially protect your business’s physical assets, such as your office, tools and equipment. If a fire or another covered event damages your property, commercial property insurance can assist with the repair or replacement expenses.

• Workers’ compensation insurance—Workers’ compensation is crucial if you have employees. It can assist in covering medical costs and lost wages if an employee sustains an injury while working.

• Professional liability insurance—Also known as errors and omissions insurance, this can help cover claims related to professional mistakes or negligence. If a client claims that your work resulted in financial loss, professional liability insurance can assist with covering legal expenses and damages.

• Commercial auto insurance—If you use vehicles for your business, commercial auto insurance is typically necessary. It can assist in covering expenses associated with accidents, theft and damage to business vehicles.

Learn More

For insurance near you, contact Express Insurance Services.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.