What Do You Know About Electrician's Insurance
Working on electrical systems, whether in a home or business, can be dangerous. Self-employed electricians or electrical contractors face unique risks because they handle resources such as:
- Live wires
- Live circuits
- Specialized equipment
- Among others
This is in addition to the common risks most business owners face, such as property damage or bodily injury. That's why it's important to have an electricians insurance policy.
Did you know that there are an average of 125 electrical shock incidents each year?
There are different types of coverages that help protect you when you are faced with different types of situations.
Many electricians and electrical contractors start with a Business Owner's Policy, which is made up of three types of insurance coverage that many small businesses need to help protect them from different risks.
The first coverage I'll talk about is electricians liability insurance, which can help cover claims such as bodily injury or damage to another person's property.
The next coverage is commercial property coverage this could help you protect your building, either owned or rented, it would also help protect the equipment you use as an electrician. This includes:
- Power tools
- Wire strippers
The third coverage I would like to tell you about is commercial income insurance, this coverage could help you recover some of your lost income if you are unable to operate your business as an electrician due to covered property damage. For example, if your business catches fire or floods and you are unable to operate, this coverage could cover the income you lost during the period of time you were unable to work.
Let's say your electrician was installing a new circuit in a customer's house when he received a shock from a live wire and had to go to the emergency room to be treated. The insurance that could help you in this situation is workers' compensation insurance, this insurance could help your electricians recover from a work-related injury or illness by providing benefits that can help pay their medical bills and replace some of their lost wages.
Knowing that you have the right protection can help you move forward and stay on the job. Electricians and electrical contractors need insurance that is tailored to the risks they face. At Hazar Insurance we have multiple insurance providers with the goal of finding the right one for you. Don't settle for just any insurance, settle for the insurance that perfectly suits your needs. Schedule an appointment with Hazar Insurance and get your quote now!