Last Updated on Feb 4, 2021 by James W

Meta: A self-employed electrician always needs to ensure that they have everything they need to correctly protect their business – and this includes insurance. Find out which policies you should have here.

Working for yourself is fantastic, but you do need to make sure that you are correctly protecting your business against various issues that might face it. For example, contractors such as electricians need to ensure that they have a good level of coverage through insurance policies. Here are some of the key policies that every self-employed electrician needs to have.

Tool Insurance

Without the right tools, a self-employed electrician is not going to be able to work properly. You need to ensure that you are going to always have the tools you need for a job to hand. Having them stolen or damaged can be a major setback that can put you out of work. What’s more, buying replacements of the same calibre can be extremely expensive.

This is why it is often best to ensure that you have a tools insurance policy. If you do end up running into issues with your tools thanks to theft or breakages, your tool insurance could help you cover the cost of replacements, thus helping you get back to your contracts much sooner.

General Liability

No matter how careful you might be, there is always the chance that something could go wrong when you are trying to finish a job. Someone could trip over your equipment, or you could accidentally damage the client’s property. Neither are good, and they can result in some hefty claims for compensation that could potentially bankrupt you.

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This is why it is a must to have an insurance policy that can protect you against liability claims. Should a client file a claim, you will be able to use this insurance to protect your business and keep you safe. It can help cover any legal costs you might face, while also helping to provide the funds for any compensation the client might be seeking.

Vehicle Insurance

Finally, we have vehicle insurance. If you have your own vehicle as part of the business, there is a good chance that you are already insured as a driver. However, you should also take out a commercial vehicle insurance policy for that extra bit of protection.

One of the main advantages of this is that it helps to protect against liability claims that have come about as a result of your vehicle. For example, if you accidentally back over a client’s fence while on their property, you can use this insurance policy to help cover the costs of the new fence.

These are three key policies that need to be in the arsenal of any self-employed electrician. You have not got the backing of a big company here so make sure that you are adequately protected against anything that could come your way. You need to ensure that your business is going to be able to thrive no matter what, and insurance is one of the easy markers that will allow this to happen. Take out the relevant policies to cover and protect your business today.


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