Electrical Contractor Insurance in Rhode Island

General Liability insurance

General Liability insurance provides protection against bodily injury claims as well as property damage.

Many consider this coverage as the most basic insurance for electricians. It shields them from lawsuits as well as other financial liabilities that may result from accidents. This includes:

• Property damage to third party property
• Third party injuries

Business Owner Policy

Business Owner’s Policy is an affordable and convenient way for small entrepreneurs to safeguard themselves from several of their most common exposures. These policies mix General Liability coverage with other types of insurance, such business interruption and property damages.

Professional Liability Insurance

Professional Liability insurance safeguards Rhode Island companies from allegations of misrepresentation, negligence or error, in addition to document or paperwork errors.

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

Professional Liability insurance covers events like:

• Incorrectly advising clients about accessibility or other standards within the building
• The client must pay for new materials and labor since your work is defective
• Clients might accuse you of negligence, even when it’s not true

Workers Compensation insurance

Workers Compensation insurance protects Rhode Island electrical contractors in the case of an employee suffering an injury or illness at work.

Rhode Island law requires employers with one or more employees to have workers compensation coverage.

Insurance for tools and equipment

Electrical contractors working in Rhode Island must have the right tools and equipment to be successful. Coverage for Tools and Equiptment will help you avoid losses in the case of an unexpected incident.

Cyber Liability insurance

Electrical contractors must be aware of cyber-security risks. In our modern world data breaches are on the rise. Cyber Liability covers costs related to recovering from an incident. This includes legal fees, credit monitoring of the affected persons and the cost of notification.

How to save on Rhode Island electricians insurance

Here are our top tips for saving on your business insurance costs.

• Compare quotes – Comparing rates can help you find a plan that fits your needs while staying within your financial budget.
• Risk management – You can lower your insurance rates by taking steps to lower the risk.
• Pay upfront your premiums – By paying your premiums each year you’ll save cash in the long term.
• Increase your deductible – You may be able reduce your insurance costs by raising your deductible. But you must decide if you have enough money available to pay for any claims.
• Check your policy annually – It is important that you review and update your policy each year to ensure it meets your needs.