Electrician Insurance in Massachusetts
What is electrician insurance?
Electrical companies face a range of risks, such as car accidents, equipment theft, work mistakes and more. Electrician insurance may help protect electrical companies in Massachusetts from many of the risks they face.
Electrician insurance is a specialized commercial insurance that’s tailor-made for electricians and their companies. Policies can be customized to protect against various liability and property risks.
What electricians in Massachusetts need small electrical business insurance?
Most electricians working in Massachusetts will find that small electrical business insurance meets their needs well. Forgoing insurance, of course, isn’t recommended as it comes with major risks.
A few companies that operate statewide might find that they have coverage needs beyond what small business electrician policies typically provide. Other policies are available for larger companies, but small electrical business policies are good for the majority of electricians.
An insurance agent specializing in electrician policies can help businesses find a suitable policy for them, regardless of size.
What coverages are included in a small electrical business policy?
Small electrical business insurance usually comes with several key coverages. A few important ones that many policies offer are:
- General Liability Coverage: Might guard against injuries to third parties or damage to their property.
- Errors and Omissions Coverage: Might guard against financial losses due to errors in services provided.
- Commercial Umbrella Coverage: Might guard against especially expensive lawsuits by offering an additional layer of coverage.
- Commercial Property Coverage: Might guard against damage to buildings, equipment and inventory an electrician has.
- Inland Marine Coverage: Might protect an electrician’s tools and materials when being transported between sites.
- Commercial Auto Coverage: Might protect vans or trucks that are registered in the company’s name.
- Business Income Coverage: Might protect against sustained periods of lost revenue that continue after certain disasters.
An insurance agent who knows electricians’ insurance needs well can help review these and other coverage options.
Do electricians need workers compensation insurance?
Workers compensation insurance is an important coverage that helps protect against certain workplace injuries. It’s required by state law in most cases where a business hires employees, and this generally includes electrical companies hiring workers.
Electrical companies that hire workers as employees are normally required to purchase workers compensation for those employees. Companies that only hire subcontractors might be able to forgo the coverage, but they should consult with an insurance agent who knows both electrician policies and workers compensation well.
Self-employed electricians who are a one-person operation usually don’t need workers compensation to be part of their insurance coverages.
Does errors and omissions cover electrical consultations and inspections?
Errors and omissions can cover many potential mistakes when working, usually including mistakes when giving customers advice.
Most E&O coverage included within small electrical business policies does cover consultations and inspections. If an electrician misses a key detail, gives wrong instructions, or otherwise makes an error during a consultation, this coverage will likely help with any financial fallout.
How much does small electrical business insurance cost?
The cost of small electrical business insurance can vary from one policy to another. Factors such as business location, business size, services offered and vehicles used are just some of the details that insurers commonly look at when setting rates.
To find out how much insurance will cost them specifically, electricians can get quotes with the help of an independent insurance agent. Independent agents aren’t connected with any one insurance company, but instead can show customers quotes from several different companies.
How can electricians working in Massachusetts get electrician insurance?
If you need help finding electrician insurance in Massachusetts, contact the independent insurance agents at PIKE Insurance. Our agents have the expertise necessary to help you choose the best policy for your particular business.
