The risks you face as an electrical contractor never take a vacation. When you are completing paperwork, your business is still exposed. When you are scheduling your workforce, the potential hazards of the profession remain.
- What if a bystander gets injured because of an electrical malfunction?
- What if a power outage causes damage to a business nearby?
- What if a worker is injured on the job?
- What if you get blamed for delaying a project?
- What if your tools get stolen?
Come to think of it, those are just five potential hazards. Is all of your potential exposure fully protected?
Your business insurance begins with three basic protections: General Liability, Property and Workers Compensation.
In this litigious society, and especially as a skilled tradesman, you can always be sued—justifiably or not. The plaintiff can go after personal assets, equipment and other business assets as the result of work performed by you and/or your company. The key is to have the correct amount of liability insurance in place in case you do get sued. (Note: A commercial umbrella policy will further protect your business by increasing the policy limits.)
Keep those tools you store at your warehouse and the computers you maintain at your office fully protected at all times. They can be damaged, vandalized, lost and even targeted for theft. They are easy to resell. Put a clause in to protect them.
Property coverage will also payout in case of a fire or other property damage.
Most states require workers compensation insurance for employees. It pays medical and compensation expenses for workers injured on the job. In addition, it provides protection for your business in the event an employee attempts to sue your firm regarding an injury.
There are other insurance protections to consider—commercial auto to cover any vehicles you have – for one. As you know, the bottom line is to make sure your earnings are protected, your potential liability is taken care of and all your insurance protection gaps are closed.
USA Business Insurance – Experts At Insuring Electrical Contractors
This is what USA Business Insurance does for a living. Protect businesses like yours. You know electrical contracting and we know the insurance needed to protect it. Take advantage of the expertise of a business insurance pro for your electrical contractor business insurance and contact us today.