Texas Electricians Insurance
When you work as an electrician, it is quite literally your responsibility to shed light on the world. You do this by repairing electrical components and power lines or through the installation of electrical infrastructures in newly constructed buildings. Your unique skills are appreciated each time someone plugs in their cell phone charger or flips a light switch.
However, working in this industry, you are constantly coming in contact with stray voltage, energized circuits and live wires. The probability for accidents and risks is always high. In fact, one of the greatest hazards that electricians face is bodily injury.
When you own and operate an electrical contracting company, it is vital that you maintain the safety of your organization and have an effective risk management plan in place for those that you employ. In order to protect your business against the major expenses brought on by employee injuries and liability claims, you need the best business insurance from a reliable coverage provider.
Fortunately, Mike Alexander is an expert when it comes to electrician insurance with an understanding of the unique concerns and risks of the professions. You will get a dependable business protection plan, which will provide your electrician business with the support you need to survive when faced with a high-priced liability claim.
General Liability Coverage
The foundation of an effective electrician business plan is general liability coverage. The reason for this is that it will provide you with the financial means that your business requires in order to weather the most common claims that those working in your industry are faced with on a regular basis.
When a third party, other than an employee, takes legal action against your business for bodily injuries or property damages, you can count on your general liability policy to cover the legal expense. For instance, if someone comes to your main business office and is injured while on your premises, your company may be sued for the associated medical fees.
If an incident like this takes place, general liability will fund the claim costs. Even in instances where your business is found to be free of liability for the damages, you can still rely on your policy to cover the remaining fees, such as attorney fees and court costs like docket and witness fees.
You may also want to consider professional liability in addition to your general liability coverage. This will provide protection for your business if a client decides to take legal action regarding poor or incomplete work, professional negligence or delivery mistakes. An example of this would be if someone employed by your company wires a building improperly, leading to a fire hazard from overheated outlets. The client may choose to sue your company for compensation. Professional liability coverage will provide funds to pay the court fees, settlement expenses, medical fees and other costs within the limits of your policy.
Personal injury coverage included as part of your general liability policy can also be beneficial. If you are sued for brand infringement, slander, copyright infringement or slander, the costs associated with the primary claim will be covered.
Inland Marine and Property Insurance
Being an electrician, you rely on your insulated tools to do your job safely. From your ground fault indicators to your pliers, you use specialized equipment and tools that can be rather costly to replace if ever damage, lost or stolen. Therefore, it may be a wise choice to protect this gear with property insurance.
This type of coverage will provide compensation for the replacement value of such property, including your physical business sites. Covered claims generally related to damage from disasters like fires and tornados as well as loss from burglary. You may even be able to obtain a policy that will also include further coverage, such as additional weather events and vandalism.
When you are traveling from your primary place of business to various job sites, you need to make sure that your equipment and tools are protected when you are on the road. In order to do this properly, you need inland marine insurance either added to a property insurance policy or purchased separately, depending on your specific requirements. If your equipment or tools are damaged while away from your main location, replacement will be covered by this type of policy.
Workers Compensation Coverage
The people that work for your company may be exposed to a number of different risks on a regular basis, depending on the types of services that you provide. They face a variety of serious hazards from handling faulty switches and live wires to lifting equipment and climbing ladders, just to name a few.
With proper workers compensation coverage, you will be able to provide your workers with sufficient treatment with thing go awry. Work-related illness or injury will be covered, including medical expenses, lost wages and even funeral expenses in the direst instances.
Growing your electrician business has involved a great deal of hard work on your part. It is time to protect everything that you have built with an adequate electrician insurance policy from ABM Insurance & Benefit Services, Inc. Before you have to deal with a financially threatening hit, click on the quote request button to get one step closer to the peace of mind that you deserve.