Electrical Contractor Insurance in Washington

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.

It is considered by most to be an essential coverage for electricians. It protects against lawsuits and other financial obligations that could arise from accidents. The coverage includes the following:

• Property damage to third party property
• Injuries to third parties

Business Owner’s Policy

Business Owner’s 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.

The insurance policy, also called Errors & Omissions, (E&O) is designed to protect your company from losses that result from negligence or errors that occur during the execution of services.

Professional Liability insurance protects against incidents that include:

• Not giving the correct advice about accessibility, or any other building standards.
• If your work is flawed, the client will have to pay for any additional materials or labor
• You’re accused of negligence by a customer, even if this isn’t true

Workers Compensation Insurance

Workers’ Compensation insurance provides benefits to your employees when they make a claim against your workplace for injury or illness.

Tools and Equipment Insurance

You will not be successful without the equipment and tools you need to be a Washington electrician. The Tools and Equipment policy can provide financial protection against unexpected circumstances.

Cyber Liability insurance

Electrical contractors must be aware of the risks of cyber-security. Modern society is seeing an increase 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 Washington electricians insurance

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

• Comparing quotes – You can determine the most suitable policy for you by looking at quotes.
• Risk management – By reducing the risk you face; it may be possible to lower insurance premiums.
• Pay for premiums in advance – By paying premiums each year instead of every month, you can save on your insurance expenses.
• Increase your deductible – If you don’t have the funds to cover any potential claims, you might consider rethinking your decision.
• Review your yearly – You must review and update your insurance policies each year.