Electricians provide a vital service to homes and businesses of all sizes. If you’re working toward opening an electrical company in Austin, you need the right coverage to help mitigate the risks associated with potentially hazardous electrical work.
Team up with Evans, Ewan & Brady Insurance Agency, Inc. for help finding the right coverage for your needs. We have been putting our policyholders first since 1928, and we’re prepared to ensure your peace of mind with comprehensive electricians’ insurance coverage.
Want to find the best policies at the lowest price? That’s what we do best! Contact us online or call 512-869-1511 today to get started.
Basic Electrical Insurance Coverage
Here are the essential forms of insurance you’ll need for your line of work:
- Professional liability: Also known as errors and omissions insurance, this coverage protects against lawsuits that could arise if an employee makes a mistake that leads to injury or property damage. Be aware that you will still be held liable if the incident occurred due to negligence.
- General liability insurance: This is intended to safeguard your company’s assets against general issues. The diverse coverage protects against everything from bodily harm to property damage to copyright infringement.
- Commercial property insurance: Have you invested a great deal into business tools, signage, and an office location? Property insurance protects these items from theft, fire, vandalism, and other perils.
- Workers’ compensation insurance: This coverage reimburses employees for injuries they sustain on the job. It’s a vital policy to have unless you’re the sole proprietor of your electrical business.
- Commercial auto insurance: Whether you use your personal vehicle for work or have a dedicated fleet of vans and trucks, you need commercial car insurance. Remember, any accident that occurs while conducting business won’t be covered under personal car insurance.
Other Insurance an Electrician May Need
Basic electrical insurance coverage is vital for any electrician. Depending on your situation, it may also be advisable to have the following:
- Life insurance: This policy distributes money to your designated beneficiaries if you pass away. As a business owner, this coverage is recommended for you, your business partner, and any employee whose death would cause major problems for your business operations.
- Business interruption insurance: Perhaps a natural disaster renders your physical location unusable, or you contract a serious illness that incapacitates you for several months. With this coverage, you’ll receive compensation for your lost earnings so you can more easily bounce back from these financial troubles.
- Commercial umbrella policy: It’s impossible to predict the events that may affect your business. That’s why investing in an umbrella policy is a smart move. This coverage goes above and beyond your regular policies, adding enhanced protection in the event of the most unfortunate accidents or losses.
How Much Does Electrical Insurance Cost?
You need a combination of different insurance policies to adequately protect your electrical business from potential risks. As a result, the costs may vary significantly. Here are the top factors that affect the price of electricians’ insurance:
- The types and level of coverage you select
- The value of the property you’re protecting
- How many employees you have
- Your service area
The best way to lower your electrical insurance costs is to shop for coverage through an experienced agent. At Evans, Ewan & Brady, our dedicated team is here to help educate you about your options and serve as your advocate when looking for the best policy at the best price. We’re a one-stop shop for all your personal and business insurance needs with over 90 years of experience to back us up.
Please call 512-869-1511 or contact us online today to request a free electricians insurance quote in Austin, TX.