Award-winning and Ontario-based Contractors Insurance is a leading provider of personalized insurance for tradespeople, contractors, and professionals. We serve a wide spectrum of industries and trades. One of our specialties is tailor-fit insurance for electricians.
Whether you are a residential, commercial, industrial, or auto electrician, we can put together an electrician insurance policy or bundle that you can fully rely on. We also serve electrical contractors who employ electricians.
When you bring your business to us, you get a hassle-free no-fuss insurance experience. Our dedicated team will be with you every step of the way – from negotiating premiums to following up on claims.
What is Electrician Insurance?
Electrician insurance is usually not just one type of insurance. Typically, insurance for electricians and electrical contractors comes in the form of an insurance bundle with policies designed to protect against their respective set of risks.
At the core of these insurance bundles is commercial general liability insurance that is specialized for contractors. However, additional types of insurance may be recommended depending on your needs.
Here are some policies typically bundled as insurance for electricians.
Commercial General Liability Insurance
Whether you do electrical work for homes, commercial settings, or cars, accidents can happen. These can result in third-party injuries and property damage. The first risk factor here is going into homes and buildings with high-powered tools and ladders. In addition, the finished work itself can pose risks because of handling wirings. Houses can be set on fire, and cars can get into accidents with just one mistake.
This is why commercial general liability insurance or CGL insurance is at the core of all electrician insurance bundles. Commercial general liability will cover repair, medical, and legal costs connected to third-party injuries and property damage. In addition, reputational or advertising injuries are also covered.
Commercial Auto Insurance
Most electricians and electrical contractors cannot operate without commercial vehicles. These vehicles allow them to get to clients’ homes and buildings. This increases the risk of injuries and property damage because of vehicular accidents. For this reason, most electricians need auto insurance as part of their complete insurance bundle.
Commercial Property Insurance
If you have a physical office or workplace where you store valuable equipment/materials or meet with clients, then commercial property insurance is a must-have. Typically, electrical contractors with a physical office are the ones who avail of this type of insurance.
Commercial property insurance covers repair/replacement costs associated with property damage or loss due to a covered peril. Lost income due to property damage is also covered by this type of insurance.
Electrical contractors who employ electricians need to ensure that they have a reliable workers’ compensation insurance policy. This type of insurance provides payouts if employees are injured, become ill, get disabled, or pass away due to an accident at work.
Considering that working with electricity is a hazard in construction and related trades, having the right workers’ compensation insurance is vital.
Who Can Benefit from Electrician Insurance Coverage?
Electrician insurance can benefit the following types of electricians:
- Residential electricians
- Commercial electricians
- Industrial electricians
- Auto electricians
Furthermore, electrical contractors who work with or employ the above electricians can also get customized electrician insurance. Whether you’re an electrician or an electrical contractor, a trusted insurance broker like Contractors Insurance will set up an insurance plan that addresses your unique needs.
Why Is It Important for Electricians to Have Electrician Insurance?
There are around 33,250 people working as electricians in Ontario. Because this field is competitive, electricians and electrical contractors cannot afford to face lawsuits and liabilities without insurance.
Furthermore, evidence of complete insurance can garner client trust because clients will be assured that the electrician’s work is protected by insurance. To top it all off, electrician insurance is required in the region of Ontario for practicing electricians.
Electrician Insurance Claims Example
Claims Example #1
A residential electrician’s faulty wiring causes a house to catch fire, and one resident is badly injured in the incident.
The family sues, and the electrician is found liable for the incident. CGL insurance for electricians will cover the settlement amounting to $340,000.
Claims Example #2
An auto electrician’s faulty wiring on a car causes the car to be involved in an accident. The driver suffered minor injuries and car damage.
The client sues, and the electrician is found legally responsible. CGL insurance for electricians will cover the settlement amounting to $25,000.
Claims Example #3
On the way to a client’s house, an electrician gets involved in a car accident, damaging both cars and injuring the other driver.
The electrician is found liable for the accident. Commercial auto insurance will cover the settlement fees and repair fees totalling to $30,000.
Claims Example #4
A fire broke out in an electrical contractor’s office, partially damaging the property and some stored equipment.
Commercial property insurance for electricians will cover the repair and replacement costs totalling $17,000.
Leading Provider of Insurance for Electricians in Ontario
Here at Contractors Insurance, we take pride in providing the best possible service and support to our clients. Listed below are some of the benefits you will receive when you sign up with us.
Personalized Insurance Plans
Are you tired of expensive plans with unnecessary riders? Our team can help. Our customizable insurance plans protect your business in the most cost-effective manner.
Utmost Transparency on Coverage and Limitations
Jargon and ambiguities are often prevalent in commercial insurance. Our company intends to change that. If you entrust us with your business, we take all the steps required to be 100 percent transparent. We’ll make sure you’re fully aware of the scope and limitations of your insurance policy.
Thorough and Straightforward Insurance Education
Every client is a partner to us. By providing you with all the information you need, you’ll be empowered to make informed decisions about your company’s insurance. For unbiased information and expert recommendations, we will always be there for you.
Frequently Asked Questions About Electrician Insurance
Typically, insurance for electricians starts at around $60 per month for a coverage limit of 2 million dollars. As you add more policies, the fees can increase. Insurance bundles are generally cost-effective in such cases.
Yes. Practicing electricians are required to have electrician insurance in the region of Ontario.
Ready to Get the Coverage You Need?
Get electrician insurance that protects your business and propels you to a successful future. Contact us today or get started with a quick quote!