Insurance for Electricians in Massachusetts

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.

Many consider this coverage to be the basic coverage for electricians. It protects electrical contractors against legal action or financial liability arising from accidents. This coverage includes:

• Property damage to third party property
• Third-party injury

Electrician General Liability insurance provides protection regardless of whether or not a claim is legitimate.

Business Owner’s Policy

Business Owners 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 policy (also known as Errors and Omissions or E&O insurance) is an essential policy that protects you and your company in case of a lawsuit due to alleged professional wrongdoing.

It protects your company against financial losses resulting in negligence or mistakes that were made when performing services.

Professional Liability insurance covers incidents like:

• Not giving the correct advice regarding accessibility or other building standards
• The client must pay for new materials and labor because your work has defects
• You are accused of being negligent by a client even though it’s not true

Workers’ Compensation insurance

Workers’ Compensation insurance protects you 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.

Massachusetts law requires every business with employees to carry Workers’ comp coverage, with limited exceptions.

Insuring Tools and Equipment

The equipment and tools that you employ as an electrician in Massachusetts is essential to your success.

You can be financially protected from unplanned events by purchasing Tools and Equipment insurance.

Cyber Liability insurance

Electrical contractors need to be aware of cybersecurity threats. In our modern world data breaches are on the rise.

Cyber Liability insurance protects your business against malicious software attacks, data breaches, viruses, and phishing. It also covers legal fees, notifying customers of a breach, credit monitoring, and fines that your company may be ordered pay. This coverage also applies to Personally Identifiable Information (aka Non-Public Information) such as names, addresses, phone numbers, social security numbers, credit card and banking info, email addresses, etc.

Save on Massachusetts Electricians Insurance

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

• Compare quotes – You can find policies that meet your business needs by comparing quotes.
• Risk management – By taking action to reduce your risk, it may be possible to reduce the cost of insurance.
• Pay for premiums up front: By paying premiums each year instead of every month you will save money on insurance costs.
• By raising your deductible – However, you should be sure you are able to afford the cost of any claim.
• Review your policy every year – It is important to review and update your policy every year to ensure that it is in compliance with your needs.