Electrical contractors provide a needed service for the community, but they also do a dangerous job. There are several lines of insurance you might need, and you should add these coverages to your financial portfolio instead of assuming nothing will happen. Use these insights to learn how insurance can protect your business and provide you with the stability you deserve.
Attracting Clients
If you can’t say you’re insured, you will lose clients. Sure, there are plenty of customers who just need your help. However, there are many more who will want to see a certificate of insurance.
You need the ability to advertise that you’re both bonded and insured. You will appeal to every customer and business in the area because you look safe.
That alone is worth its weight in gold.
Moreover, you’re protecting your customers in case something goes wrong. You can file an insurance claim, compensate your clients as needed, and get on with the work that must be done. Without insurance, the work comes to a stop and likely never resumes.
Protecting Your Workers
Workers’ compensation insurance is required by law, but it’s also the best thing you can do for your team. When you purchase workers’ comp coverage, you’re transferring your liability to the insurance carrier. A worker’s lost income and medical bills are covered, and you can welcome back a healthy team member after an accident rather than paying out of pocket or forcing them to fend for themselves.
At the same time, you should work diligently to develop a safety culture that protects your team. Our partners at The Liberty Company provide safety training support, educational tools, and even HR services that can streamline and improve your business. Reach out to learn more about these programs.
Tools and Equipment
Insurance for tools and equipment is vital to the success of your business. Without your tools, you can’t do the job. But, what happens when those tools break down, are lost, stolen, or must be replaced?
Insurance coverage for tools and equipment protects those items when they’re on the truck, on a worksite, or sitting in the shop. Talk these coverages over with our agents to learn how you should value each item given the scope of your operation. If all you need to do is file an insurance claim, you can get back to work that much more quickly.
Contact Strategic Insurance for More Information on Insurance for Electrical Contractors
Contact Strategic Insurance when you need more information on insurance for electrical contractors. Our team is happy to customize a quote for your business, and our partners at The Liberty Company can offer safety, educational, and HR support to propel your business forward. With all these tools, you can flourish now and in the future.
