Electrical Contractor Insurance in Alabama

General Liability insurance

General Liability insurance protects your business against bodily injury or property damage lawsuits from outside parties.

This coverage is considered by many to be a basic coverage for electrical contractors. It protects them against lawsuits and other financial liabilities resulting from accidents. This coverage includes:

• Damage to third-party property
• Third-party injury

Electrician General Liability insurance provides coverage whether or not a claim is valid.

Business Owner’s Policy

A Business Owner’s Policy (BOP) is a convenient and affordable way for small business owners to protect against several of their most common exposures. These policies combine General Liability insurance with other types of coverage, such as business interruption and business property damage.

Professional Liability insurance

Professional Liability insurance protects Alabama businesses against claims of negligence, misrepresentation or mistake, as well as document or paperwork errors.

This coverage, also known as Errors & Omissions (E&O) insurance, protects your business against financial losses resulting from negligence or mistakes made while performing services.

 Professional Liability insurance covers incidents like:

• Giving incorrect advice to clients about accessibility or other standards in the building
• Your work has flaws that require the client to pay for new materials or labor
• A client alleges that you acted negligently, even if though this is untrue

Workers’ Compensation insurance

A Workers’ Compensation policy provides protection for Alabama electrical contractors if an employee suffers a work-related illness or injury. Policies commonly cover medical bills, rehabilitation or physical therapy, and lost wages.

Alabama law requires employers with more than five employees to have Workers’ Compensation coverage.

Tools and Equipment insurance

Your tools and equipment as an electrical contractor in Alabama are vital to your success.
Tools and Equipment coverage can protect you financially from unexpected events.

Cyber Liability insurance

Electrical contractors should be aware of cyber security risks. Data breaches are on the rise in our modern world. Cyber Liability insurance helps cover costs related to recovering from a breach of data, including legal fees, credit monitoring for the affected individuals, and notification costs.

How to save on Alabama electricians insurance

Here are our top tips for saving on your business insurance costs.

• Compare quotes– Comparing quotes can help you to find a policy which meets your needs and is within your budget.
• Risk management – By taking steps to reduce risk, you may be able to lower your insurance premiums.
• Pay your premiums upfront – By paying your premiums annually (instead of monthly), you can save money over time.
• Increase your deductible – You may be able to lower your premium by increasing your deductible. However, you should carefully consider if you have the money available to pay for any claims.
• Review your policy every year – It is important to review and update your policy each year to ensure that it meets your requirements.