Electrical Contractors

Electrical Contractors face many of the same everyday risks as other contractors. Injuries to employees or third parties, property damage at the jobsite, and damaged or stolen tools and equipment, are some common occurrences that could lead to financial difficulty for your business. The experts at Fairbanks Insurance Brokers represent multiple highly-rated insurance carriers that will offer coverage for every aspect of your business. Our insurance professionals are committed to helping you identify your risks and assist with designing affordable coverage to keep your business protected. We understand your industry and will offer the best solutions to keep you and your employees safe while on the job. The most common coverages that Electrical Contractors should consider are General Liability, Worker’ CompTool Coverage, Commercial Auto, and Surety Bonds.

Here is What We Recommend:

General Liability

Because of the hazards at a job site, electrical contractors need to obtain commercial general liability coverage to have financial protection in the event you are found liable for injuries or property damage to a third party. Your state will require this coverage before your electrical contractors’ license can be issued.

Workers' Comp

Workers’ Comp will protect your employees in the event they are injured or become ill from a job related incident. Having this coverage will satisfy your state’s requirement in order to become licensed. Accidents happen, and your workers’ compensation will be available to pay for medical expenses and lost wages.

Surety Bonds

Many states and customers may require electrical contractors to offer a license or surety bond before you are allowed to bid on a job or begin working.

This bond is a financial guarantee to your state’s licensing department and your customer that you will complete the job according to your bid and make certain vendors are paid when the work is completed.

Commercial Auto

Your commercial auto policy will cover your business vehicles for liability if you or an insured driver are found liable for an at-fault accident. Typically, an electrical contractor may have multiple vans or pickups, and this policy will provide coverage if they or damaged in an accident, stolen, or vandalized.

Tool Coverage

An electrical contractor’s tools are vital in the workplace, and coverage is needed to reimburse your business in the event they are stolen or damaged. Your tool and equipment insurance will provide coverage while your tools and equipment are being used or in storage.


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