The Cost of an Electrician’s Policy Doesn’t Have to be Shocking
When a transformer blows or some other incident results in a loss of power for businesses and homes, the first call is usually to an electrician. As an electrician, people count on you to quickly assess the problem and get their home or company back up in running in as little time as possible. There are many hazards involved in working with electricity and insurance can protect you from devastating financial liabilities caused by injuries, property damage and other costly concerns.
Whether you are an electrical installer, whose job includes maintaining, and repairing electrical wiring, equipment, and fixtures while ensuring that work complies with relevant codes, or provide general electrical services, you need to protect yourself and your business at all times. That’s why you need to speak to an Insurance Agent in New Mexico familiar with the type of work you do that can help you determine which policy is right for you.
Liability issues can spark a lawsuit
You know the risks of working with electricity, but what about the risks of not having the proper electrical contractor insurance? Let’s say, for example, that you complete a job for a small Internet-based company. At the end of the night, after the business closes, an electrical fire breaks out causing serious damage to an office and the equipment within. An inspection reveals that the damage was due to faulty wiring. Without coverage, you could face having to pay the expenses to repair the office and replace any lost equipment.
Whether you’re an independent electrician or own and operate an electrical company that employs other electricians, it is vital to be prepared to manage any and all hazards associated with your profession. It can be a big help to you if you evaluate your risks and exposures and understand what types of insurance you’ll probably need to protect your bottom line.
Your insurance costs can vary based upon the amount of liability you face and the type of work you perform. Speak to an Insurance Agent in New Mexico to get an idea of what type of plan can get you the coverage you need and deserve.