3 things to consider when choosing electricians insurance
For electricians, there are a range of challenges that can affect their operations, especially given how dangerous it is to work around electricity all day.
In Western Australia alone, there were 35 fatalities as a result of electric shocks between 2001 and 2011, according to the WA Department of Commerce. Of these, 40 per cent were the result of accidents in the workplace. In the same time frame, the state saw 215 serious accidents and nearly 10,000 small shocks.
Even without the risks that come from working with live wires, there are still many hazards that electricians have to consider. Anyone on a construction site will be facing the full range of potential challenges that come with this environment, while confined or unusual working conditions are also a risk.
Faced with these obstacles, electricians insurance is essential. To help you get the right product for your needs, here are three things that need to be considered.
Liability cover is essential
If you are working on projects for a number of different clients, liability insurance is going to be essential. Without this level of cover, any accidents that occur on site may leave you out of pocket. Public liability insurance can therefore be used to mitigate the potential damage that might be inflicted to a client's property.
Are you a single operator or do you have staff?
When it comes to getting the right electricians insurance, the best product is going to depend on the nature of your business. If you are a single operator, one of the most important things to consider is income protection insurance. Not having income protection will make it much harder to pay any bills, let alone keeping your business running, if you are injured.
On the other hand, companies that are large enough to have staff will also need to have workers compensation insurance, in case your staff are injured while they are working.
No matter how large or small your company, it is important to get the right level of insurance to cover the breadth of your operations.
How can you mitigate against further risk?
While insurance is important for any electrician, it shouldn't be the extent of your risk management strategies. Codes of practice are updated regularly, requiring new techniques and equipment to stay safe,as well as compliant.
Staying ahead of any regulatory changes, while also getting the best possible level of insurance cover, will ensure that your business can handle any accidents that occur while at work.