Do electrical contractors need insurance? Whats the difference between contractors insurance and electrical contractors insurance?

If you are a contractor in Ontario, you know contractors’ insurance is necessary to operate your business. But does your insurance policy vary based on what kind of contractor you are? What types of insurance are recommended for electrical contractors in Ontario?

What Is Contractor & Construction Insurance?

Contractor and construction liability insurance is used to help cover you in the event of injury or property damage resulting in a claim made based on any type of contract work you are doing for a client.

Because of the nature of construction and contracting jobs, contractors must have a policy that gives them comprehensive protection and considers the jobs they will be tackling.

Working with electricity, whether you are a heating or electrical contractor, an electrical repairman, or an industrial electrician, means that electricians insurance is a must.

So what exactly is electrician insurance?

Generally, it is a blend of the following coverages to protect your electrical contracting service or business adequately.

It includes:

  • General Commercial Liability insurance covers day-to-day on-the-job risks, bodily and property damage of your clients, and the medical and legal expenses that might arise from many incidents.
  • Professional Liability Insurance offers coverage for negligence, failure to deliver a particular service with the expected results, or misconduct.
  • Equipment and Tools Insurance covers loss or damage to equipment on the job.
  • Pollution Liability Insurance due to the risk that the environment may be compromised on or around the job site.

These all help make a well-balanced plan or policy for any contractor involved with electrical risk.

Now that you are aware of the policies that may be useful as an electrical contractor, you can make a more informed decision about the type of coverage that you need for your specific business.

In Ontario, these insurance policies give contractors peace of mind allowing them to complete their jobs and services in any season and anxiety free.