As summer draws to a close and fall sets in, most homeowners are cleaning their pools, using their BBQ for as long as they possibly can and taking advantage of a garden full of fresh herbs, fruit and vegetables before cold weather hits. Another thing on homeowners minds? Last minute home-improvement projects. This is why the summer and fall times can be the most productive times of the year for electricians and other home-related industries.

So, as an electrician in, how do you make sure you take full advantage of this busy season? Make sure you have the right insurance! Without it, all the earned revenue will head straight down the drain if you have to pay out of pocket for any damaged property, workers compensation cases or potential lawsuits.

Here are 4 types of insurance all electricians need to have:

  1. Property damage coverage: Property damage provides coverage in the event there is any damage to the office, warehouse or any other space you own or rent for your electrician business. In addition to having this policy, you can also add a clause covering tools and equipment.
  2. General liability insurance: General liability insurance will cover your business if a third party (someone who doesn’t work for your company) is injured or sustains property damage as a result of your company doing business.
  3. Workers compensation: Workers compensation is the best thing an employer can provide for their employees. This policy covers your employees if they are injured, become sick or are killed because of a work related accident.
  4. Business income or loss of income insurance: Business income insurance provides coverage in the case something happens, like a natural disaster, that prevent you from running your electrician company.

Insure the Money you Make

With the right insurance coverage for your electrician company, you can ensure that you are able to KEEP all of the money your business brings in this fall, rather than watching it go down the drain because of something that is out of your control. Talk to your insurance agent today to make sure there are no gaps in your coverage and if there are, what policies need to be added to provide your electrician company with complete coverage.