Insurance for Electrician/Electrical Contractors
Public Liability Insurance For Electricians using Morgan Insurance Brokers to manage your business Insurances
Insurance for Electrician/Electrical Contractors
Public Liability Insurance For Electricians using Morgan Insurance Brokers to manage your business Insurances
Why it matters
Public Liability Insurance for an Electrician is extremely important to protect Electrical businesses from out of pocket expenses in the event that something goes wrong. Accidents happen, and they can quickly amount to thousands, if not hundreds or thousands very quickly. Insuring you have an adequate insurance program is the best investment your business can have.
What Does Public Liability Insurance Cover?
Property Damage Claims examples for an electrician:
An electrician could be installing lighting in an apartment building. When they’ve moved their ladder into position, the ladder has accidently knocked the sprinkler system, setting it off and flooding the apartment unit. The repairs as a result of the water damage can be covered under a Public Liability Insurance policy.
Personal Injury claims example for an electrician:
A subcontractor, another worker, or your customer could injure themselves on an exposed electrical cable that you were working on resulting in them being electrocuted and needing medical attention. The medical bills, the time off work, and any additional claims for compensation could be covered under your Public Liability Insurance policy.
Is Public Liability Insurance Mandatory for an Electrician?
In Queensland, Electricians must have $5,000,000 public liability insurance (broadform liability) and $50,000 consumer protection insurance in order to apply for a license, or renew an existing license.
Other states and territories recommend that an Electrician hold a Public Liability Insurance policy, however it is not compulsory.
Workers Compensation is mandatory for all businesses that employee part time, casual, or full time staff. Some contractors that only for you, and under your direction may also need to be insured under your workers compensation policy.
Personal Accident & Illness Insurance
Why Every Electrician should consider Personal Accident & Illness Cover
As an electrician, your livelyhood is sole reliant on you showing up to the job site and getting the work done. If you injure yourself, or cannot work due an illness, Personal Accident & Illness cover can protect your weekly income if you could not work.
Tool Insurance
A CHEAP SOLUTION TO PROTECT YOUR TOOLS
Electricians should consider insuring for tool cover as it’s extremely cheap in comparison to having to replace all of their tools after a theft, fire, or collision in transit.
What's Covered
Accidental Damage
Damage whilst in transit
Theft
Weather events
What's Excluded
Theft In Open Air
Breakdown Cover
Items not specified over $3,000
No signs of forcible entry
How Morgan Insurance Brokers can help your Electricial Business
Fortunately, Morgan Insurance Brokers has been insuring Electricians all over Australia for over 10 years. We know the risks that electricians face and how to provide cheap, broad and comprehensive insurance policies that will protect your business. Contact us today so we can show you how we can help!
