Electrician's Insurance: Video Transcript
Hi, my name is Lorna and I’m an advisor for Towergate.
In this video we’re going to talk about the main features of an electrician’s insurance policy.
So what is it? Well it’s a package of liability and business covers which provide the specific cover electricians and related tradesmen need.
It can cover you for most types of electricians work including:
Large public contracts and private jobs
Laying new electrics or repairing old ones
Surveying and quoting
And even if you diversify in your business and do other work like plumbing or repairing you can be covered for these too.
The job of your insurer or broker is to have enough experience to understand both your business and the risks of your industry. They should be able to tailor or source you a policy which provides the best cover in the areas you need.
Electricians’ liability insurance
Possibly the most important features of electricians insurance are those related to liability.
Public liability protects the public from an accident or injury as a result of your business. In cases like this the insurance will pay compensation if a valid claim were to be brought against you.
Employers liability for electricians
If you have any employees, part-time, full time or contracted employer’s liability can offer the same level of cover to them. Even without any employees, remember a good insurer should be flexible and able to add them as your business grows.
Professional Indemnity for electricians
Professional indemnity covers you for giving out advice as a professional service. If your advice turned out to be negligent or caused a loss to the receiver, they may want to raise a claim against you.
Many of the other features are optional on a policy of this kind so you won’t have to pay for extras you don’t need.
Electricians tools cover
Tools cover can be included if you need it, and your premium is based on the amount your tools cost so again, you won’t pay extra for cover you don’t need.
If you use hired in equipment you may still be liable to insure these and this can be included in your policy too. It’s a blanket sum, and is called ‘hired plant’ cover.
Electricians contracts works insurance
Finally, another important feature is Contract work
Contract works cover is to insure the value of your building contract. This means that if an insured event such as fire or a storm damages a project or holds it up you can claim the costs on your policy.
So for more advice on electricians insurance give us a call directly or browse the site for more videos and guides.