Companies that provide electrical services know a thing or two about power. Designers who develop plans face risks due to errors, omissions or other negligence that can lead to claims or lawsuits. Contractors install systems, facing the risk of shock or electrocution. It’s important to have the right insurance products as part of an overall business risk strategy.
Understanding Your Insurance Needs
A workers’ compensation policy might be a no-brainer if you employ electricians or electrical contractors, but other types of protection should also be considered and purchased:
- Professional Liability – Also known as errors and omissions, this protects your company from damages resulting in mistakes or negligence in your work.
- General Liability – This covers injuries to third parties on company premises. It can also be used if an owner needs to be insured for certain types of work.
- Commercial Auto – This is a good feature for workers who have to drive company vehicles for business purposes.
- Commercial Property – This benefit covers property such as equipment and tools that may be stolen or damaged on the job.
Covering Your Team and Clients
Both employees and clients depend on you to protect the work and the workers. No two businesses have the exact same needs. Look for an insurer that can create a tailored plan.