Electrician Insurance in Virginia
What is Electrician Insurance?
Electricians are exposed to both common risks that many businesses face and dangers that are specific to working with electricity. Electrician insurance won’t prevent property from being damaged or someone from being injured, but it can help shield electricians in Virginia from some of the financial consequences that can follow covered incidents.
Electrician insurance policies are commercial insurance policies that have been uniquely crafted to meet the needs of electricians. Most policies are written as package policies that have several coverages within them, and electricians can usually adjust these coverages for their particular situation.
What Businesses in Virginia Need Electrical Contractor Insurance?
Most Virginia businesses that perform residential or commercial electrical work should have electrical contractor insurance in place. This often includes:
- Electricians who work by themselves
- Electricians who own a business and have employees
- Electrical contractor companies
- Electrical service companies
Anyone who’s unsure whether this form of insurance is right for them can get more information by speaking with an insurance agent who specializes in electrical contractor insurance. A specialized agent will have detailed knowledge of what protections a policy may provide, and they can make an informed recommendation regarding whether this or some other insurance is more appropriate.
What Coverages Does Electrical Contractor Insurance Offer?
As mentioned, most electrical contractor insurance policies come with multiple coverages so that they can protect against several risks. A few of the more commonly offered coverages include:
- General Liability Coverage, which might insure against common accidents
- Errors and Omissions Coverage, which might insure against work-related errors
- Commercial Umbrella Coverage, which might provide extra liability coverage
- Commercial Property Coverage, which might protect owned equipment and buildings
- Inland Marine Coverage, which might protect equipment during transport
- Commercial Auto Coverage, which might protect owned vehicles
- Business Interruption Coverage, which might protect against certain losses of revenue
Do Electrical Contractors Insurance Policies Come with Workers Compensation?
Electrical contractors who hire employees generally are legally required by Virginia to carry workers compensation, and those who work solo as self-employed business owners might still want the coverage in case their health plan doesn’t cover a work-related injury.
While the coverage is frequently required or recommended, workers compensation isn’t always purchased within an electrical contractors policy. Instead, it’s sometimes gotten as a separate, stand-alone policy.
An insurance agent who’s familiar with electrical contractor policies can likely also help with workers compensation, and they’ll be able to determine the most logical way to purchase this coverage if it’s needed.
What Sorts of Incidents Are Covered by Electrician Policies?
Precisely what any one electrician policy covers is typically determined by that policy’s terms and conditions. Depending on a policy’s documentation, it might provide coverage for incidents like the following:
- Specialized tools are stolen from a company facility or work site
- An employee causes an auto accident while driving between work sites
- A passerby is shocked when an employee makes a mistake while working
- An employee’s mistake leads to a structural fire after work is completed
How Much Do Electrician Policies Cost?
Electrician policies’ premiums frequently vary because insurance companies consider many factors when setting rates. Generally speaking, however, these policies tend to be affordable. They’re almost certainly much more affordable than what a major claim might cost if no insurance is in place.
How Can Electricians Get Electrician Insurance?
For help finding electrician insurance that’s suited to your needs, contact the independent insurance agents of Hampton Roads Insurance. Our experienced agents have worked with many electricians in Virginia, and they have the expertise necessary to assist you.
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Newport News, Virginia 23601
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