What kind of insurance does a self employed electrician need?
Electricians Commercial General Liability Insurance For starters an electrician would need a "Commercial General liability" policy to protect him from any worker error such as faulty wiring that causes a fire. The elctrician would also need a business owners policy that would protect his actual business tools, shop if he or she has one, site materials etc. I am sure the Electrician has a truck so he would need a commercial auto policy.
In addition, he or she is going to need health insurance, Life insurance, Disability Income Insurance or a good Business Overhead Disability insurance (Either with a money back rider can help fund his retirement) and like every middle income American and up he is eventually going to want to buy a LTCi policy.
If the Electrician has any empoyees he is going to need Workers Compensation. For some jobs he will probably need to be bonded.
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Most of us are averse to taking risks, especially if we are not in a 'proper' office job but are self-employed. While there is a continued stress to retain work, one cannot shake off the constant feeling of insecurity: what if an emergency strikes? Are you prepared for it and if you need to opt for an insurance policy.
You best bet is to talk to other electricians and ask them who their agent is and what they have for coverage. Your best bet is to build a relationship with an independent agent that has multiple carriers. A reputable agent wants your business and will work very hard to get you the best coverage and save you money.