What Are Insurance Policy for Electrical Contractors & Electricians
The TOP 10 Electrical Contractors & Electricians in Marin County CA
Pleasant Hill, CA, 94523
Electrical contractors are firms that are specialist in electrical systems in construction, residential or commercial establishments. They are responsible for the proper connections and designation of any electrical systems. Contractors in this firm can calculate and design the proper portions of how electricity in an area be used avoiding it to spark because of overuse or wattage is not enough to sustain the electric power.
A licensed electrician can do wirings in buildings, autos and other equipment that needs the expertise of an electrician. This type of job is a very high risk because of the power of electricity which can cause a sudden death when electrocuted. Because of the high instability it faces, the need to have insurance is mandated by law and is according to what the contractor can afford to have.
The Insurance Policy for Electrical Contractor and Electricians
Electricians face the risk of live wires, isolated voltage and open circuits with a chance of being electrocuted. This is a big factor for being forced to have insurance for the business and electricians themselves. The contractors need to consider and apply the necessary policy to safeguard their company. Below are the three lists of policies an electrical contractor and electricians must apply to. Any client should be checking that the company acquires these policies before finally hiring them.
License and permit bonds
This is the policy that is required by law in which it covers the assurance that electricians should be completing their responsibility guided by the state's regulations. For contractors, this policy is a pre-requisite or a requirement before getting a license to run their contractor business. This mandated policy is also a promise to the public that both an electrician and the electrical contractor are going to do their duties and responsibilities as professionals.
Builders risk insurance
Since most of the work is done in the field location, exposure to risk is very open. This policy covers any incident happened in an actual site like losing equipment. Although the property insurance also covers the same terms but in the business location. This type of policy is ideal for long-term projects.
Excess liability insurance
This policy covers the higher demands of coverage which is the case with the amount and limit of the GCL. The insurance can also be called as a booster policy which can also add protection for liability but much cheaper than upgrading the GCL.
In addition to these policies, as a client, you also need to check the worker's comp and other policies that are mandated by the state law before concluding that the contract is signed. Protecting the business and the project is way better than never getting any policy. A right contractor should start the business by planning all possible solution to some encountered problems. For any client, protect your plans by merely asking any contractor if they have insurance.