What is electrician insurance?
Electrician insurance is an umbrella term for the range of different cover options you may need as an electrician.
Public liability insurance for electricians
Electricians’ public liability insurance covers you if a member of the public is injured because of your work – for example, if a client got an electric shock from an exposed wire. It also covers you for damage caused to someone else’s property by you or your employees.
Although electricians don’t legally need to have public liability insurance, you should consider whether you would be able to afford any legal costs and compensation if someone did make a claim against you.
Some clients may also request that you have public liability insurance as a condition of hiring you. Similarly, if you want to join an electricians’ association, you may need to prove that you have a minimum level of insurance before you are allowed to become a member.
» COMPARE: Public liability insurance
Employers’ liability insurance for electricians
Employers’ liability insurance is a legal requirement if you employ someone outside your family who lives in the UK. This can cover the costs of medical fees and compensation if an employee gets injured or becomes ill as a result of their work. As an employer, not having this insurance is illegal, and you could be fined £2,500 for each day you do not have it.
» COMPARE: Employers’ liability insurance
Additional insurance options for electricians
If a client accused you of being negligent or of giving poor advice, professional indemnity insurance could protect you. It may cover any legal fees and compensation if your client suffered financial losses as a result of your work – for example, if they had to hire another electrician to fix a mistake made by you or an employee.
Personal accident insurance could cover medical fees if you get injured, or die, as a result of an accident either at work or elsewhere. For example, if you injure yourself while installing new wiring in a client’s house and your injury prevents you from working, you may get a lump sum or a weekly payment to cover your lost income.
If your tools are stolen, replacing them could be an unexpected expense with a potentially significant impact on your business’s finances. Tools and equipment insurance could cover the cost of replacements if yours are stolen.
Similarly, if your materials are stolen or damaged while you’re at a job, stock insurance could pay out so you could replace them. For example, if a fire ruined the wiring you were yet to install at a client’s house.
Whether you use your own plant or hire from someone else, you may want to consider plant insurance. It could cover the repair or replacement costs of plant you own or plant you’ve hired if it’s accidentally damaged while you’re responsible for it.
Some projects may take a while to complete. If there was a flood or fire halfway through, you could be left out of pocket. Contract works insurance, also called Contractors All Risk insurance, could pay out to cover the cost of the materials and labour needed to get your project back on track.