Electrical Contractor Insurance in Georgia

General Liability Insurance

General Liability insurance can protect 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.

It is considered by most to be an essential coverage for electricians. It shields them from lawsuits as well as other financial obligations that could result from accidents. The coverage covers:

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

Electrician General Liability covers you regardless of whether the claim is valid.

Business Owners Insurance

Business Owner’s Policy (BOP) is a convenient package of insurance that protects your business against the common risks it faces every day. The BOP product includes various coverages that may suit the unique requirements of your small business. Insurance included in a BOP can vary but usually they include protection for typical small business risks such as property damage, business interruption and liability.

Professional Liability insurance

Professional Liability insurance protects Georgia companies in case of a lawsuit due to alleged professional wrongdoing.

This coverage, which is sometimes referred to as Errors & Omissions insurance (E&O), protects you against financial losses resulting due to negligence or mistakes committed while providing services.

Professional Liability insurance covers incidents such as:

• Incorrect information being given to customers about accessibility or other requirements of the building.
• Your work has flaws that make it necessary for the client to purchase new materials or labor
• You are accused of being negligent by a customer even though it’s not true.

Workers Compensation Insurance

Workers’ Compensation policy protects your company and its 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.

Georgia law requires employers with three or more employees to obtain Workers’ Compensation coverage.

Tools and equipment coverage

Your tools and equipment as an electrical contractor in Georgia are essential for your success.
Coverage for Equipment and Tools will protect you from financial loss due to unexpected circumstances.

Cyber Liability Insurance

Electrical contractors should be alert to the risks of cyber-security. Data security breaches are increasing in our modern world. Cyber Liability covers costs related to recovering from an incident. This includes legal fees, credit monitoring of the affected individuals and notification costs.

Save Money on Electrical Contractor Insurance in Georgia

Here are top tips to save money on the cost of your business insurance.

• Compare Prices – Comparing prices will help you locate an insurance policy that meets your requirements and is within your budget.
• Risk Management – If you take steps to reduce risk, you could be able to reduce your insurance premiums.
• Pay upfront your premiums – By paying for your premiums annually, you will likely save money in the long run.
• Increase your deductible – You might be able to lower your premium through increasing the deductible. But you must consider if you have the funds to cover claims under this limit.
• Re-evaluate your policy every year – Examine and revise your insurance policies every year to ensure they are still meeting your business needs.