General Liability For an Electrician – Electrical  Artisans Insurance PolicyElectrical Contractors Insurance Quote

GENERAL LIABILITY INSURANCE

As an electrician, you can usually make an offer on a project without liability insurance. Chances are that when it comes to the time the work is going to be performed that you will need to produce proof of insurance to unpack your tools and get to work. If it is not the homeowner or the business owner, it may be the building owner or the local government that steps in with requirements.

How Much Does General Liability Insurance Cost for An Electrical Contractor?

The insurance costs for electricians varies based upon the amount of liability you need and the type of work you perform. It is not unusual that building owners in New York require at least one million dollars in general liability insurance for and electrician to get your foot in the door.

  •  Electricians Liability InsuranceWhen Castle Rock quotes a general liability insurance policy for an electrician we will offer you several payment plans that should accommodate your budget.
  •  We will offer you options to keep your initial payments low, especially if you are a new company with limited capital resources.
  •  Typically, companies offer payment plans that allow you to pay off the policy over the course of the year in 9 or 10 payments after a deposit.

Electrical Contractors & Artisans Insurance Policy Coverages

Insurance companies are financial institutions, like banks and are rated by institutions like Standard & Poor and a firm called AM Best that rate Insurance companies the same way they rate banks & bonds:: A++, A+, A, A-, B+, etc. make sure that you find out what each company’s rating is while you are gathering quotes.  It is hard to compare a rate with an A rated multibillion dollar insurance company with an insolvent insurance company with an unrated or low rated insurance company.

Commercial General Liability Insurance (CGL) is the focus of a slew of law suits. Accordingly, there are many things you need to know about securing a Commercial General Liability Insurance Policy for an Electrical Contracting Operation.  Although this coverage helps to protect you and your company’s assets by providing a layer of defense against several types of suits including negligence, there is a lot to know.  That is what your Castle Rock Agent is here for. By covering the cost of defending or settling these claims and the award that may be handed down to the claimant, your Electrician’s General Liability Insurance policy can help you keep your business in business.

Coverages Liability:

General Liability Insurance usually covers Five basic categories of business liability:

Bodily Injury

Electricians Liability Insurance

Physical harm to a person at your place of business, or an injury caused by your employee at a client’s site.

Completed Operations/Products Liability

Losses after your business has completed work for a customer (such as repairing appliances or installing wiring), or from distributing products.

Personal Injury

Damage to the reputation or rights of a person or business due to slander, libel, copyright infringement, invasion or privacy, false arrest, wrongful eviction, etc.

Advertising Injury

Losses caused by your advertising (spoken or written); for example, an ad that trashes a competitor.

Medical Payments

Pays the medical expenses of a person injured on your premises (a customer, client, visitor, or even a trespasser) up to a stated amount, regardless of fault — as a goodwill gesture to prevent lawsuits.

Independent Contractors Liability

Damage from the acts of an independent contractor hired by your business.

For Electrical Contractors the above insurance coverages are usually sufficient.

For GENERAL CONTRACTORS, the one coverage typically NOT INCLUDED, but perhaps the MOST IMPORTANT is the following.

Injuries to Sub Contractors Liability Coverage

If you are a General Contractor and sub out Electrical Work and Don’t Have it or never heard of it you need to call us immediately.

Damages Covered Your General Liability Insurance Policy will pay three types of damages:

Compensatory Damages

Financial losses of the claimant, plus additional monetary losses resulting from the claim.

 General Damages

For intangible losses (“”pain and suffering.” “mental anguish,” etc.)

 Punitive Damages

Penalties against your business for committing a wrongful act.

 Exclusions: Although Commercial General Liability Insurance provides a wide range of protection for your business, it won’t pay liability claims related to these areas (which you can cover with other policies):

On-the-job injuries to employees Workers Compensation

Operating autos or trucks in your business Business Auto Policy
Performing, or failing to perform, professional services Professional Liability Insurance, Errors & Omissions

Acts as a corporate director or officer Directors & Officers Policy

Pollution Environmental Liability

Products, such as light fixtures, appliances are subject to recall. The General Liability Insurance also excludes coverage for losses related to war, terrorism, or nuclear events.  However it is available separately on a Products Liability Policy

 As many people have already found out, Castle Rock Capacity Insurance Agency is the best stop for a quote on Electrical Contractors Insurance.  We are the low cost solution for your Electrician Contractors Insurance Policy. Castle Rock Capacity Agency currently offers Electrical Contractors Insurance Policy Coverage in New York, NY, New Jersey, NJ and Pennsylvania, PA.

Click Here for a Quote on an Electrical Contractors General Liability Insurance Policy

Electrician General Liability Insurance Coverage
Electrical General Liability Insurance

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