Electrical work can be a dangerous field. While top-quality electricians are highly trained professionals, the basic process of working with electricity and often complex wiring ensures that the possibility of an accident or injury always exists.
Comprehensive insurance, including general liability insurance for electrical contractors, is absolutely necessary to safeguard a business’ financial interests, and to protect electricians working out in the field.
What Types of Insurance Are Necessary?
An overlapping number of policies may be relevant for a given electrical business. One essential policy is general liability insurance for electrical contractors, which covers broad issues that may affect a company, and protects the company’s assets in the event of a lawsuit. Other types of plausibly necessary insurance include the following:
- Comprehensive workers compensation, protecting injured workers, is essential in the sometimes dangerous environments in which electricians work
- Professional liability insurance covers a company in the event of damages arising from contracting work
- Commercial property insurance protects the company’s equipment and other physical assets
- Commercial auto insurance covers any company vehicles
Other types of insurance, including health insurance and life insurance, may be applicable for some businesses and individual contractors. Having a comprehensive discussion with an insurance agent will ensure a business or contractor is well-covered and prepared for any injury or accident.