Electrical Contractor Insurance in Mississippi

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.

For many electricians, this is a must-have insurance. It protects contractors from legal actions and financial obligations resulting in accidents. The coverage includes the following:

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

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.

Professional Insurance Covers events such as:

• Giving incorrect information to clients about accessibility or other standards of the building
• The client must pay for new materials and labor since your work is defective
• Customers might claim that you are negligent even when it’s not true

Workers Compensation insurance

Workers’ Compensation insurance 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.

Mississippi law requires employers that employ more than five employees to carry workers comp coverage.

Coverage for tools and equipment

Electrical contractors in Mississippi need the proper tools and equipment in order to succeed.

Tools and Equipment coverage can protect you financially from unexpected circumstances.

Cyber Liability insurance

Electrical contractors must be aware of cyber security risks. Data security breaches are increasing in our modern world.

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.

Tips to save on Mississippi electricians insurance:

Our top tips for saving on business insurance.

• Compare quotes – Comparing quotes can assist you in selecting policies that meet your requirements and fall within your price range.
• Managing Risks – By taking the necessary steps to reduce risk, you can reduce the cost of insurance.
• Pay your premiums upfront – By paying your premiums annually (instead of a monthly payment), you can save money over the course of time.
• Increase your deductible – You may be able to reduce your premium by increasing your deductible. However, you should consider carefully whether you can afford any claim.
• Review the policy annually – It’s important to review your policy and update it every year in order to ensure that it is in compliance with your requirements.