Electricians Insurance: A Must-Have for Self Employed Tradespeople

As an electrician, there are a range of required and recommended insurance types. In some states in Australia, without a compliant insurance policy, you may be unable to apply for or renew your electrical work while undertaking it—understanding which policies or electricians’ insurance types you should have can be pretty confusing. Atlantic Insurance is here to make deciding on the appropriate insurance easier. Read on to find out about electrician insurance, including public liability insurance.

Income Protection Insurance 

Income protection insurance can reduce financial stress if you cannot work as an electrical contractor due to an illness, accident, or injury that impacts your abilities. Depending on the policy, this can allow you to receive up to 70% of your income (before tax) for a period of time. While income insurance for electricians is not required for a licence to be obtained, it can be a contractual requirement depending on the nature of the work being undertaken. If it is not compulsory, it is still essential for electricians because it can assist significantly with the financial pressures of illness or injury that leave you unable to work for periods of time. 

Public Liability Insurance

As an electrician, holding a public liability insurance policy is extremely important. In some states of Australia, it is mandatory. If you operate your electrical business in Victoria, Energy Safe Victoria explains, “Public Liability cover is necessary to protect against public liability for injury or damage to a person or property that may arise in connection with the electrical contracting work being undertaken.” 

Commercial Motor Insurance 

This policy can include multiple vehicles and be tailored to incorporate fixed Tools Boxes and Accessories specific to your  Business.  It will protect your vehicles if they become damaged or damage another car for which you are liable. These policies help to minimise the financial impact a Motor Vehicle claim can have on your Business.

Tools Insurance

As an electrician, tools and equipment insurance is vital. If you don’t have this insurance, financial stress can occur if you cannot continue working because your tools or equipment are stolen or need repairing. In the event of accidental loss, damage or theft of your tools, these policies can help to get you back to working as soon as possible. 

Contract Works Insurance

For electrical contractors working on larger projects, contract works insurance can protect against various risks, including those outside of an electrical contractor’s control. This type of insurance can come into effect in the case of natural disaster, fire, theft or accidental damage or loss. Contract works insurance protects assets and those works that you remain liable for until these projects are handed over or completed. Even if this insurance cover is not a contractual responsibility, it is a good idea to consider this policy to manage risk associated with accidental loss or damage outside of your control. 

Electrician Insurance with Atlantic Insurance 

At Atlantic Insurance, we understand that being an electrician involves years of refining your craft, developing more innovative processes and delivering quality services. We have been catering to the various insurance needs of Electrical Contractors for over 25 years and have developed a strong understanding of the risks involved in the industry. We appreciate the broad scope of work electricians undertake and how risks may vary whether work is residential, commercial or industrial. Our knowledgeable Client Managers are dedicated to detailed risk analysis to provide the appropriate recommendations for cover. Your electrician insurance is in good hands with Atlantic Insurance.  

Any information contained on this page of the website is general advice only and has been prepared without taking into account your objectives, financial situation or needs. You should consider these, having regard to the appropriateness of this advice and the relevant Product Disclosure Statement (‘PDS’), Target Market Determination (‘TMD’) and Financial Services Guide (‘FSG’), which will be provided following any formal recommendation to you.