Low voltage contractors’ operations involve installing low-voltage electrical systems, wiring, and cable from the ground, ladder, or rooftop of a home or business.
Procedures involve drilling or boring holes that contribute to the risk of job-related injuries or property damage in their day-to-day activities.
When your business has the proper contractors’ insurance in place, you will have peace of mind in knowing that when something goes wrong, you, your employees, and your customers will be financially protected.
The insurance professionals at Fairbanks Insurance Brokers recommend general liability, workers’ compensation, contractors’ equipment coverage, commercial auto insurance, and a surety bond.
Contractors’ General Liability forms a safety net between your business and third-party risk exposure.
For protection against the hazards presented at the job site, low-voltage contractors should have a commercial liability policy for the financial safeguard against third-party injuries or property damage.
Also known as workman’s comp, your contractors’ workers’ compensation insurance will protect your business and your employees should they become injured on the job or come down with a work-related illness.
Most U.S. states require low voltage contractors’ workers comp to satisfy your state’s requirement to become licensed to operate a business.
When accidents happen, your worker’s comp insurance will be available to pay for medical expenses and lost wages.
A Surety Bond serves more as a business line of credit than an insurance policy.
A low voltage contractor’s surety bond is a financial guarantee for the licensing authority and customer that mutual terms are complete according to a bid.
Since personal auto policies typically exclude coverage for business auto, a commercial auto policy will protect your business vehicles from liability if you or an insured driver are found liable for an at-fault accident.
Contractors’ commercial auto insurance also protects against damage from events such as theft or vandalism.
Low voltage contractors need various tools and equipment to complete tasks at the job site. Making sure this valuable equipment stays covered in the event of damage or loss is the best way to protect your business from the cost of replacing this equipment.
A contractor’s tool and equipment policy, also known as Inland Marine insurance, protects you while your tools and equipment are at the job site, in transit, or storage.