They Are Required to be Insured

The state you live in should require that electrical contractors carry workers compensation insurance. This type of insurance covers medical costs and lost wages caused by work-related injuries or illness. Employers should also be aware of the safety requirements of their workplaces and ensure that they provide an environment that is free of potential hazards. Electrical services are no exception, and you should consult an insurance professional before you start a new project. In addition to protecting your clients, this type of insurance also protects you and your employees from potential lawsuits.

Insurance is crucial for all electrical contractors, even those who operate as a family business. Life insurance protects the business from the death of the owner, and key person insurance keeps the business running. You should always seek the advice of an insurance agent if you’re unsure of the legalities surrounding insurance for your business. These agents understand insurance jargon and can help you choose the right policy for your needs. These agents can also connect you with several insurance companies and hook you up in the most comprehensive way possible.

Electrical contractors should carry general liability and professional liability insurance. Both types of insurance protect them from third-party claims, including property damage and medical costs. General liability insurance is not enough; it does not cover lost work. Workers’ compensation coverage is another important type of insurance. It pays for injuries that occur during the course of a job. While general liability insurance will protect you in case of an accident or property damage, you should consider taking out installation floater insurance for materials before installation.

In addition to protecting your clients, insurance covers your business. In the event of an accident or other unforeseen incident, your insured electrical contractor can claim compensation for damages caused by his or her work. When faced with plumbing emergencies in California, you can rely on expert Sewer Line Repair Services San Pedro at Castaneda’s Plumbing and Rooters to quickly resolve issues. If you choose not to purchase insurance, you could lose your license to conduct business. Therefore, insurance for your electrical contractor is essential for your protection. If you don’t feel comfortable with the idea of hiring an electrical contractor, a good option is to work with an independent insurance agent.