Insurance is a big deal for electricians. Not only do they have to protect themselves from bodily harm and the possibility that their mistakes could cause property damage on a job, but defamation, false advertisement and slander can also occur, in which case you might need your insurance to help you out.
General liability can be as cheap as $350 per year, although that will depend on coverage, eligibility factors and a host of other details that your insurer can tell you about in person. This is the minimum you will usually have to pay for a policy, and it’s remarkably cheap.
Unfortunately, the job of an electrician can be messy, and accidents and risks can apply, even if they might be rare. As a result, and because it’s sometimes hard to distinguish risks that apply to one or the other, professional liability will often be provided together with general liability as a complete package by some insurance. The additional cost for electrical contractors insurance Colorado liability coverage can be just a small percentage of the overall cost of your policy, but it can make a huge difference down the line.
Most insurers can tell you that a well-rounded electrician insurance policy should include such risks as bodily injury, advertising harm, medical payments, property damage and defamation. So make sure that the policy you choose will include these items as part of your cover, and don’t avoid paying more for your insurance to include them if it doesn’t.