Electricians Insurance

Electricians insurance is applicable to sole traders, contractors, business owners, and the self-employed working in domestic, commercial, and industrial environments.

Those most likely to require electricians insurance include:

• Electricians
• Appliance engineers
• Broadband installers
• Computer repair experts
• Telecommunications workers
• Alarm installers
• Office equipment installers
• HVAC engineers

What does it cover?

There is no specific form of electricians insurance, and each type of policy will come with its own level of coverage. A comprehensive package will usually include:

Public liability cover: This covers you if a client or member of the public makes a claim, either for accidental injury, or for damage or loss to personal property.

Employer’s liability cover: This covers you if an employee of the business makes a claim, either for accidental injury, or for damage or loss to personal property.

Professional indemnity cover: This covers you should an unsatisfied client make a claim for inadequate service, helping you to recover your business reputation.

Each policy will have its own standard levels of coverage. Additional coverage can be added if enhanced protection is required. This may include tools cover should your equipment be stolen, or van cover if your commercial vehicle is damaged.

Do I need it?

The only form of electricians insurance that is a legal requirement is employers liability insurance if the company employs one or more workers outside the family. Third party, fire, and theft coverage is also legally required for any commercial vehicle used.

However, public liability and professional indemnity insurance can provide peace of mind that, should something go wrong, you have the support you need to recover.

Electricians insurance can:

• Protect you from claims
• Keep you on track should the worst happen
• Provide financial assistance for legal or medical fees

How does the process of securing electrician insurance works?

1. Research: Use resources like TrustPilot to review insurers offering electricians policies. Buildsafe are proud to hold a 4.8/5 rating
2. Compare: Visit individual insurer websites to obtain and compare tailored quotes
3. Decide: Choose an electricians insurance policy that best meets your own needs
4. Customise: Add on any additional coverage such as tools cover
5.  Relax: You’re covered, and your business and livelihood are protected

Do I require it?

The electrical industry comes with many hazards and dangers that simply don’t exist within other sectors. According to the Health and Safety Executive, 57,000 electrical related workplace accidents occurred in just a five year period, and electrical engineers are ‘significantly’ more likely to suffer an accident than other workers.

Electricians insurance may not directly help to reduce the risk of accidents. But, should an accident occur, it can be an essential tool for returning to business as usual.

How much does it cost?

The cost of electricians insurance can vary greatly, not only between providers, but also between the type of policy required, whether that’s public liability cover, employer’s liability cover, or professional indemnity cover, and whether any extra cover is required.

Premiums will also be based on the level of risk within the industry, and the claims history of the business. It’s always best to compare quotes to find the most attractive prices.

Why choose Buildsafe?

At BuildSafe, we see our role as an independent advisor, who reviews the merits of each policy to help you make well-informed comparisons. We also save you time in procuring quotes, analysing and comparing quotes, and negotiating the commercials.

The procurement of quotations is a time-consuming process. From form filling, providing documentation, chasing, reviewing and comparing terms, negotiating and finalising; we take the weight out of all of this for our clients allowing you to focus on actually developing your business.

Will I be paying more as you are a broker?

No. Our business is built on retention and referrals. It is essential to state that the insurer will release the same terms to us, as they would to you directly. We are able to use our position within the market to gain leverage with providers. This means we can generally gain more favourable terms than the market price and often help our clients save as much as 30%. We are paid by the insurer for introducing the business to them and this cost is included in the price quoted.