Electrical Contractor Insurance in Nebraska

General Liability insurance

An 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 electrical contractors. It shields them from lawsuits and other financial liabilities that may result from accidents. The coverage includes the following:

• Damage to Third Party Property
• Third-party injury

Electrician liability insurance provides coverage regardless of the fact that a claim was filed.

Business Owners Policy

Business Owner’s Policy (BOP) is a convenient and affordable way for small business owners to protect against several of their most common exposures. These policies combine General Liability insurance with other types of coverage, such as business interruption and business property damage.

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 covers events such as:

• Not giving the correct advice to customers regarding accessibility or other requirements in the building
• Your work has flaws that require the client to pay for new materials or labor
• You are accused of negligence by a client even though this isn’t true

Workers’ Compensation insurance

Workers’ Compensation policy 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.

Nebraska Law requires employers with at least one employee to be covered by worker comp coverage.

 

Tool and Equipment insurance

The tools and equipment that you employ as electricians in Nebraska is vital for your success.

The Tools and Equipment policy will offer financial protection against unforeseeable circumstances.

Cyber Liability insurance

Electrical contractors are required to be familiar with cyber security threats. Modern society is seeing an increase in data security breaches. Cyber Liability is a way to cover the costs of recovering from an incident. This includes legal fees as well as monitoring the credit of affected individuals and notification costs.

How can I save on Nebraska electricians insurance?

These tips can help reduce your business insurance costs.

• Compare quotes – Comparing quotes can help you to find a policy which meets your needs and is within your budget.
• Risk management – If you take steps to lower the risk you face, it could be possible to lower the cost of insurance.
• Make your payments in advance – You could save cash by paying your premiums in advance.
• Increase your deductible– You may be able to lower your premium by increasing your deductible. However, you should carefully consider if you have the funds to cover any claim.
• Check the policy yearly – It is crucial to review your policy and make changes each year to ensure that it meets all of your requirements.