Electrical Contractor Insurance in Delaware

General Liability Insurance

General Liability insurance protects you against claims 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 electricians it is essential to have this coverage. This protects the electrical contractor against lawsuits or other financial liability arising from accidents. The coverage covers:

• Property damage caused to third parties
• Injuries to third parties

Electrician General Liability insurance provides coverage whether a claim is legitimate.

Business Owners Insurance

Business Owners 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 provides Delaware businesses with protection 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 known as Errors & Omissions, (E&O), is designed to protect your business against losses resulting from mistakes or negligence made during the performance of services.

Professional Liability insurance covers incidents like:

• Not giving the correct advice to customers about accessibility or other standards in the building
• The work you have done is flawed and will make it necessary for the client to pay to purchase new materials or labor
• You’re accused of being negligent by a customer, even if this isn’t true

Workers Compensation Insurance

Workers’ Compensation insurance protects Delaware electrical contractors and their employees. If any of your employees get injured at work or are ill, this type of insurance will cover their medical bills. It will also cover some of their lost income if they’re unable to work because of the injury, as well as rehabilitation or physical therapy to transition the employee back into the workplace.
Delaware law mandates that employers with at least one employee need to have Workers’ Compensation coverage.

Insurance for Tools and Equipment

Electrical contractors in Delaware must have the right tools and equipment to succeed.

You can be financially protected from unexpected incidents by purchasing tools and equipment insurance.

Cyber Liability Insurance

Electrical contractors must be aware of cyber security risks. Data breaches are on the rise in the modern age. Cyber Liability insurance covers the cost of resolving data breaches, including legal fees and credit monitoring for the affected, and notification costs.

How to save on Electricians Insurance

These tips can help you save the cost of your business insurance.

• Compare quotes – You can find a suitable policy for you by looking at quotes.
• Risk management – You may be able to reduce your insurance premiums by taking steps to lower the risk.
• Pay your premiums In advance – You could save money by paying a year’s worth of premiums in advance.
• Increase your deductible – You may be able to lower the cost of your insurance by increasing the deductible. You must carefully consider whether you have enough funds to cover claims below this limit.
• Review your policy annually – It is crucial that you review and update the policy every year to make sure it still meets your needs.