Safeguarding
Electrical Services
with Tailored Coverage

Commercial policies are treated differently than personal lines insurance. Personal lines insurance is prorated over the life of the policy. With Commercial there is a financial penalty called a short rate.

This is incurred when the insured cancels an insurance contract prior to the expiration date of the contract. This is generally a minimum earned premium of 25% of the policy plus taxes and fees that are fully earned ie non-refundable when the policy is issued.

So if you cancel your policy 30 days after it is issued, you will be entitled to a refund but the amount will be subject to the balance of the minimum earned premium and taxes and fees.

Electricians’ insurance covers you and your company should the following:

• Punitive damages – otherwise known as penalties or fines against your business
• Compensatory damages – any financial losses accrued in the event of a suit filed against you
• General damages – intangible damages not covered under the umbrella of the other two terms.

We have a number of different options if you can not pay your entire premium upfront. There are payment plans that split the premium over 10 months with low down payments. Credit, Debit, and electronic checks are also accepted.

If you are a one-person operation with no employees the rate will generally be less than $50 per month. Obviously, the bigger your operation is the more the insurance will cost.

The answer is yes. We have companies that offer affordable Electrical Contractor’sGeneral Liability Insurance Policies for new businesses. We would only normally need a brief description of your experience in the trade.

Getting a quote is very simple. You will just be asked a few questions:

• If a license is required in State you are located license number.
• What percentage of your work is residential or commercial.
• The percentage of your work is new construction or remodeling.
• Number of employees.
• Revenue of the business.
• Your experience, including how long the business has been in operation.
• Have you had any previous claims or losses?

If your State or Cities you work in do not require you to get a bond we can get you a Bond for around $150 per year. This will allow you to advertise that you are bonded.

These are a few other types of insurance that may be required or you should consider:

• Commercial auto insurance This covers all the vehicles you use in the business. If you have only personal auto coverage and you have a claim while performing a business-related activity your claim can be denied.
• Workers Compensation Insurance– If you have employees you are required by law to have coverage.
• Inland Marine Insurance – This covers your tools and equipment.
• Commercial Umbrella Insurance – This gives you additional coverage after any other covered policy limits are exceeded by a claim.
• Bonds – These policies can give your clients coverage against theft by one of your employees.

Many insurance agencies are equipped to deal with only the most basic insurance coverage, like general liability, auto insurance, and worker’s compensation. But as our namesake suggests, Contractors Liability is equipped to address any insurance question for any type of business. We understand contractors and the immense risks they take when they provide their necessary services. In return, we help them find the rates and policies that work for them. We also provide the following:

• The finest customized plans encompassing all the intricacies electricians face.
• Licensed insurance agents that are knowledgeable.
• Same-day coverage in most instances.
• Coverage from A-rated insurance companies.
• Ability to offer policies nationwide.
• The lowest price for the best electricians’ insurance coverage out of any of our competitors

Electricians deserve complete coverage as they keep their clients out of the dark. Contractors Liability is here to help with all your insurance coverage needs, including specialized plans for electricians’ insurance.