top of page

Are you an electrician or electric contractor? Make sure your policy has you completely covered.

Electricians

Electricians

Performance, Payment, and Bid Bonds

Typically required by a project owner or General Contractor, these contracts guarantee the satisfactory completion of a job by a subcontractor. The insurance company guarantees the payment of necessary costs to complete a job if a contractor fails to fulfill the requirements set forth in the original outline. The most common reason for a contractor’s failure to perform is bankruptcy. Contractors must consider how they will absorb the cost of the bond or include the expense into the bid.

Screenshot 2024-11-19 at 1.35.18 PM.png
Screenshot 2024-11-19 at 1.16.16 PM.png

General Liability Insurance

General Liability Insurance is a foundational policy for electricians, providing protection against a wide range of everyday risks. It covers bodily injury, such as a client or third party being injured on a job site, as well as property damage caused during electrical work. This can include accidental damage to walls, wiring, or other systems while performing installations or repairs. It also helps cover legal expenses, settlements, or judgments if a claim is brought against your business.

In addition, general liability insurance can include coverage for personal and advertising injury, such as claims of libel, slander, or copyright infringement related to your business operations. With the unpredictable nature of electrical work environments, this coverage ensures that your business is financially protected from common liabilities that may arise during daily operations.

Workers' Compensation Insurance

Workers’ Compensation Insurance is essential for electricians, as it provides coverage for employees who may be injured on the job. Electrical work often involves high-risk tasks such as working with live wires, climbing ladders, and operating in hazardous environments. If an employee suffers an injury or illness related to their work, this coverage helps pay for medical expenses, rehabilitation costs, and a portion of lost wages.

Beyond protecting employees, workers’ compensation also helps protect your business from costly lawsuits related to workplace injuries. In many states, it is a legal requirement for businesses with employees. Having the right coverage in place ensures compliance while also demonstrating a commitment to the safety and well-being of your team.

Screenshot 2024-11-19 at 1.36.40 PM.png

Watch the short video to learn more!

What are my potential risks?

Are you an electrician or office manager for an electrical contractor? Your business may be years, decades or even generations old. Maybe you just finished your vocational program and are now starting a small venture in the field. No matter how long you have been in business, you likely know by now that working in the field is not your only task. You spend time thinking about how to better market your brand, how to better manage your budget, and how to protect yourself if your business gets shocked! You are no stranger to hazard, but have you ever considered just how risky your business really is? Electrical contractors work with one of the most dangerous and potentially hazardous systems of a building, and accidents happen even with expert electricians with years of experience. Having a trusted risk advisor can make all the difference when your business short circuits.
You wake up at 6 am on a Thursday morning, ready to take on a full day of supervising several residential sites. Your crew meets for coffee a half hour later to go over the schedule and project specs. One of your new employees doesn’t show up, and is not answering his phone. You are going to have to fill in and won’t be able to meet with that referral you just got from one of your favorite clients. As your crew heads out to their job site, you jump in your car, slam the door, and frustrated, call your new employee again and again, only to get the same voicemail. Hours go by… and no phone call. As you are finishing up some wiring at your first site, your phone rings and you quickly reach for it ready to blow up and fire the tardy employee. Instead, it’s the hospital administrator calling you as the ’emergency contact’ to let you know your employee was brought in the night before after getting seriously injured from a shock. Suddenly, you smell smoke. You forgot to turn off the main circuit breaker. You left live wires too close and a spark has set the house on fire. You’re all alone and rush out the back door to call 911. The fire department gets to the house in time to save only a small part of the new construction. You left over $50,000 of equipment and supplies in the house, and when you call your insurance agent, he informs you that you only asked for $10,000 of property coverage, which is only covered if damaged or stolen on your own property. Did you remember to ask your agent about the performance bond that the owner asked you to buy? Your $50,000 loss in equipment and supplies is going to put you out of business, and the homeowner is now suing you for failure to complete the project. You probably cannot imagine a worse day in business, but these events happen to electrical contractors every day, and most contractors do not carry the correct amount of insurance to protect themselves from disaster scenarios like this. If you are not 100% sure that your insurance advisor has covered all the angles for your business, you may need a second opinion from an electrical contractor insurance specialist. Our agency has a specialist on staff who will consult with you to help understand your potential risk and how to best insure against catastrophe.

Your goal as a business owner is to keep your employees happy and, in turn, keep your business running smoothly.

At Boynton Insurance Group, we understand that necessity. Our representatives are here to help you create an insurance package that fits your business’s needs. Call today to set up a consultation.

Image by Daryan Shamkhali
IMG_4536.HEIC

Best-in-Class Insurance
at Unbeatable Pricing!

Boynton Insurance Group has partnered with best-in-class insurance providers to provide the best coverage at the best prices. Check it out for yourself now!

​

Boynton Insurance Group will help your business identify critical insurance risks and provide solutions for managing and transferring those risks. We can help you professionally respond to the insurance requirements of those contracts you hold with your clients. Our agency can provide various types of insurance for your business, including Workers Compensation, Property & General Liability, Electronic Equipment, Crime Insurance (including 3rd party), and more. A careful and customized review of your current coverage, business operations, and plans for future business development can help you gauge your business' particular risks. Our Technology Insurance Specialists are ready to guide your business with personal consultation and a carefully tailored insurance package.

bottom of page