Electrical Contractor Insurance in California

General Liability Insurance

General Liability insurance protects you against any claim by an outside party regarding injury or damage to their property. In these instances, your policy will cover your legal expenses as well as your cost to replace or remedy the situation up to the limits of liability.

For many electrical contractors, this is a must-have coverage. It protects them against lawsuits and other financial liabilities that result from accidents. This includes:

• Third-party property damage
• Third-party injury

Business Owner’s policy

Business Owner’s Policy (BOP) is a combination of policies, combining covers such as General Liability insurance and business personal property coverage, to help protect small businesses from costly interruptions to service.

Professional Liability insurance

Professional Liability Insurance safeguards California businesses against claims of negligence, misrepresentations, or mistakes. Professional Liability claims are typically made by clients who allege some form of financial damage as a result of your services, products or employees.

Also called Errors & Omissions (E&O) cover is designed to safeguard your business against losses resulting from negligence or errors made during the performance of services.

Professional Liability insurance protects against incidents including:

• Giving incorrect advice on accessibility or other building standards
• There is a defect in your work which requires the client to pay more for materials or labor
• You’re accused of negligence by a client even though this isn’t true

Workers Compensation Insurance

Workers’ Compensation insurance offers protection to California electrical contractors against medical expenses and lawsuits that can arise from employee workplace injuries and illnesses. It could also pay lost wages as a result of the work injuries that an employee sustains.

California law mandates that employers with at least one employee need to be covered by Workers’ Compensation coverage.

Protection for equipment and tools

As an electrical contractor, your tools and equipment are essential for your success. Tools and Equipment coverage can provide financial protection against unexpected circumstances.

Cyber Liability insurance

Electrical contractors should be aware that cybersecurity is a major problem. Data security breaches are increasing in the modern age. Cyber Liability Insurance can help cover expenses associated with resolving a data breach, including legal fees and credit monitoring expenses for the affected people.

Saving time and money on electrician insurance

Here are some great tips for reducing your business insurance cost.

• Compare quotes – Comparing rates can help find a policy for your requirements while remaining within your financial budget.
• Risk management – You could reduce your insurance premiums by taking steps to lower the risk.
• Pay upfront – By paying your premiums annually you’ll save money in the long run.
• Raise your deductible – You could be able to reduce your insurance costs by increasing your deductible. If you don’t have the funds to cover potential claims, then you may consider rethinking your decision.
• Check policy annually – It is important to review and revise your policy each year to ensure it meets your needs.