I do the odd handyman job on weekends. If I was sued, would my home policy respond to this?

No, it would not. In order to insure any commercial operations, it is important to have a commercial liability policy in place. Even if you are working for friends or family, it is always important to have a liability policy in place to protect you in the event of a lawsuit.

If I use my vehicle 50% for pleasure and 50% for business purposes, it is okay to have it rated for pleasure use?

No, it is not. If a vehicle is used for business purposes, whether it is sales, construction or any other occupation, it is important to have it rated this way to ensure proper coverage is in place.

Do I need to list my child on my auto policy or would they be covered automatically?

It is important that all licensed drivers living in the household are listed on your auto policy unless they have their own auto policy elsewhere. Failure to have all licensed drivers listed on your auto policy could result in denial of a claim.

Does my home policy cover my garden tractor?

If your garden tractor is over 30hp, it needs to be scheduled on your home policy. There is usually a limit of approximately $15,000 for garden tractors that do not exceed 30hp included in the special limits section of your home policy (please refer to your specific company wording for exact limits).

Am I covered if I rent a vehicle?

If your auto policy has the OPCF 27 endorsement then yes, you are covered if you rent a vehicle in Canada or the United States. However, specific limits and time frames apply to this coverage. Therefore, it is important to contact your broker to review this coverage with them.

What is the OPCF20/27 on my auto policy mean?

These Ontario Policy Change Forms provide you with the following; OPCF 20 – This change form provides coverage for transportation replacement. For example, if you have been in an accident and your vehiclecannot be driven, you will have coverage to rent a vehicle up to the limit on your policy. OPCF 27 – This change form provides you with comprehensive and collision coverage if you damage a rented vehicle. Your liability coverage and accident benefits coverage on your auto policy would apply to the rented vehicle. This coverage is only applicable while you rent or borrow a vehicle in Canada and the United States.

Is my jewelry covered under my contents on my homepolicy?

There is a section in your home policy called special limits. This will include some coverage for Jewellery. Limits vary by insurance company, but there is usually around $5,000 for Jewellery coverage. Any big items,such as watches, wedding bands, etc., should be scheduled on your home policy. If you have questions on your specific coverage, it is important to contact your broker.

Are my recreational vehicles insured under my homepolicy?

No, they are not. A recreational vehicle requires a separate insurance policy or in some cases, it can be added onto your auto policy.

Can I insure my friend’s car?

No, you cannot. To insure anything, you need to have insurable interest meaning your name must be on the ownership.

If I am renovating my house, do I need to let my broker know?

This depends on the size of the renovation. Cosmetic renovations such as new flooring, painting or updates to kitchens and bathrooms are not a material change in risk and therefore, do not need to be noted. However,if you are adding value to the house, such as finishing the basement, it is important to let your broker know, so we can ensure the limit on the house is sufficient. Any renovations that include additions to the house are important to let your broker know, so they can ensure proper coverage is in place, as this is a material change in risk.

Electrician Insurance

Electrical contractors’ business and the work they do can be very different. Whether you own and operate a residential electrical company doing new construction and renovations, or working on larger commercial projects, your insurance should be suited to your specific operations.

What does Electrical contractor’s insurance cover?

Electrician insurance can be is designed specifically to meet the risks that are associated with your operations. Below are some coverages that are important to consider as an electrician:

Tool & Equipment Floater

As an electrician or electrical contractor, you are typically working off premises at your client’s location. This off premises exposure of loss and theft of tools away from your premises can be covered under a tool floater. The same goes for larger pieces of moveable equipment that your electrical contacting business owns such as skid steers, loaders etc. Miscellaneous items or higher value may be insured on this form as well such as air compressors welders etc.

Installation Floater

As an electrician, you may specialize in the installation of machinery and equipment. The installation floater is coverage for your property, or the property of others for which you may be legally liable, that is to be used in the installation process, or incidental to the installation operations of the insured. Coverage is typically provided for loss or damage to property while in transit, while awaiting installation on site, or during the installation process.

Commercial General Liability (CGL)

Working as an electrician or electrical contractor may cause many scenarios that could lead to bodily injury or property damage. Lawsuits due to bodily injury and property damage can jeopardize your business. It is important you protect your business from the financial burden that can be brought about by being named in a lawsuit. The commercial general liability policy, or CGL, provides coverage for your business when you need it most.

Commercial Auto Insurance

If you are an electrician, chances are your automobiles or fleet of vehicles are a big part of your daily operations. These vehicles need to be insured correctly on a commercial auto policy. There is significant exposure and risks with your commercial vehicles operating on a daily basis and it is important to make sure that you protect your business and assets as well as any downtime due to a loss. It is also important to have the vehicles insured correctly if there are any tools or equipment being transported.

Do I need Electrician Contractor Insurance

Being an electrician is a technical trade and things can go wrong. Whether you are a residential, commercial or industrial electrician, a mistake can be devastating to a client’s property or operations. In the unlikely event your mistake causes a fire or shuts down a client’s operations, it is essential that you protect your business from the financial burden of a lawsuit. It is also important to protect your business property such as tools, equipment and automobiles. If a loss occurs and you lose all your tools, you want to be sure you can get back up and running with little to no impact on your business.

How Much Does Electrician Insurance Cost?

Electrician Insurance can certainly be reasonable. A big factor when determining premium is your scope of operations and your gross sales. Your scope of operations can affect the amount of exposure you have. For example; residential electricians would likely be working on smaller jobs, resulting in smaller loss exposure. Electricians doing more commercial or industrial work would be working on large instruments and businesses, thus creating a larger likelihood of loss and a larger amount of loss, should it occur. Gross Sales indicate the amount of work you are doing on an annual basis. The more work or sales you do, the larger the exposure to loss is. Other factors like insurance history, claims history and experience all play a role in your premium as well.

Give James Campbell Insurance a call for your electrician insurance quote today.

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