Electrical Contractor Insurance in Missouri

General Liability insurance

Your General liability insurance policy 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.

The coverage is regarded by many as a fundamental coverage for electricians. It protects contractors from lawsuits and other financial obligations that result from accidents. This coverage includes:

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

Electrician liability insurance provides protection regardless of whether a claim is legitimate.

Business Owners Policy

Business Owners 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

Also known as Errors and Omissions (E&O) insurance, this type of policy protects your business 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

Professional Liability insurance protects incidents like:

• Giving incorrect advice to clients regarding accessibility or other requirements within the building
• If the work, you did is not perfect The client will be required to pay for any additional material or work
• A customer claims that you were negligent, even if this is untrue

Workers’ Compensation insurance

Workers’ Compensation policy 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.

Insurance for tools and equipment

The equipment and tools you use to be electricians in Missouri is essential to your success.

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

Cyber Liability insurance

Electrical contractors must be aware that cyber security is a serious problem. Our modern world is experiencing a rise in data security breaches. Cyber Liability insurance helps cover the expenses associated with resolving a data breach, including the legal costs and monitoring of credit costs for affected individuals.

How to save on electrical contractor liability insurance

Here are our top tips to save on your business insurance.

• Compare quotes – Comparing rates will help you find policies for your needs while staying within your budget.
• Risk management – You can reduce your insurance premiums by taking measures to reduce the risk.
• Pay your premiums up-front – You could save cash when you pay your premiums ahead of time.
• Raise your deductible – You could be able to lower your insurance premium by increasing your deductible. It is important to consider if you have enough funds to pay for any claim.
• Review your policy every year – It is crucial to review and revise the policy every year to make sure that it is in line with your requirements.