As an electrician, you are exposed to a number of risks before, during and after projects. Not having the proper insurance coverage can impact your ability to gain new contracts while leaving you open to major financial pitfalls during and after. Below are three of the top coverages you should be sure to include in your new policy when you sign up for electrician insurance in Torrance.
Builder’s Risk Insurance
From fires to storms, builder’s risk protects you in case an incident at the project site causes your equipment, materials and tools to become damaged or lost. Your policy will pay to repair or replace your covered items.
General Liability Insurance
If a third party claims that your business caused them to experience bodily injury or property damage, your general liability coverage will be there to cover any legal fees and other expenses for which you’re found liable. An example of where general liability would come into play is if a potential client were to slip and fall in your office.
Professional Liability Insurance
Also known as malpractice insurance, professional liability covers you in case a client claims your negligence led them to experience a loss. This can include instances such as the client claiming that you didn’t deliver on your promises or that your work was incomplete.
There are many other insurance coverages that can be included in your policy depending on your needs and government regulations. Work with an agent who’s well-versed in electrician insurance in Torrance to customize your new policy.