Electrical Contractor Insurance in Montana

General Liability insurance

Also referred to as Commercial General Liability (CGL) or “slip and fall coverage”, this insurance can protect your business against bodily injury or property damage lawsuits from outside parties.

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 insurance provides protection regardless of whether a claim is legitimate.

Business Owner’s 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

Professional Liability insurance can protect professional service providers from potentially devastating financial damages resulting from alleged negligence or error in the delivery of your services.

This coverage, also known by the term Errors & Omissions insurance (E&O), will protect your business from financial losses resulting from mistakes or negligence when providing services.

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 insurance 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.

Montana Law requires most businesses with employees to be have workers comp coverage.

Tools and equipment insurance

The equipment and tools you use to be electricians in Montana are 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 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 Montana electricians insurance

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

• Compare quotes – Comparing rates will help you find polices 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 In advance – 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 annually – It is crucial to review and revise the policy every year to make sure that it is in line with your requirements.