If you’re an electrician, it’s important to know how much insurance coverage you need. You don’t want to be caught without the right amount of protection — both for your home and business — in the unfortunate event of an accident or loss. Here’s what type of policy you should have as an electrician and why:

If you’re an electrician, you need public liability, tools, contract works, professional indemnity and income protection insurance.

As an electrician, you need to have a number of insurance policies in place to ensure that you are properly covered in the event of an accident.

If you work as an electrician in Australia, you will need public liability insurance, tools insurance and contract works cover. Additionally, professional indemnity and income protection insurance would also be useful for your business.

Public liability insurance

Public liability insurance is a must-have for any electrician. It protects you from financial and legal losses if one of your clients sues you for damages caused by faulty work or negligence in the workplace.

If you’re on the fence about getting public liability cover, consider these three reasons why it’s an essential part of being an electrician:

  • Your customer won’t be able to sue you if they get hurt on site because of your fault
  • You won’t have to spend money on lawyers if someone sues after a claim is filed against them by your client
  • No-one wants their business shut down by legal action, which can happen if someone sues after being hurt at work

Looking for more information or a quote? Visit our public liability page:

Tools insurance

Tools cover is one of the most important parts of your business insurance, as it provides protection for your tools and equipment against theft and damage. However, most work sites don’t have public liability insurance, which means you don’t have any protection from accidental damage done by yourself or your employees to other people or their property.

What Insurance Do Electricians Need

Tools can be covered under public liability, but this often comes with a higher premium and may not extend to all situations where you need it. This is where having tools cover attached to your policy can help save money in the long run by keeping costs down on both your personal and company policies.

Contract works cover

If you’re working on a contract basis, it’s important to have the right insurance in place to protect you and your business.

Contract works cover provides protection for work done on a contract basis, usually provided by a general insurance company. It can be included as part of an overall commercial insurance policy or purchased separately from your insurer. The main purpose of this type of policy is to protect the contractor against loss or damage to property and equipment.

What Insurance Do Electricians Need

Learn more about contract works here:

Income protection insurance

Income Protection insurance is designed to protect you against loss of income if you are unable to work due to accident or illness. The insurance pays out a percentage of your income if you can’t work. It’s usually paid monthly and is tax deductible.

It’s not a substitute for your superannuation but rather a complement to it. There are different types of income protection insurance policies, so talk with an expert or read up on the different kinds before deciding which one is right for you.

Learn more about income protection insurance here:

Having the correct insurance will protect you and your business from financial and legal losses.

  • Having the correct insurance will protect you and your business from financial and legal losses.
  • You need to have insurance that covers your work, as well as commercial premises, vehicles, and tools.
  • If you have employees or contractors of your own, they should also be covered.
  • Customers who are injured on your premises may be entitled to compensation if they can prove that someone has been negligent or reckless – so it’s important to know how much cover is already in place for this type of situation before an accident happens!

The type of business that you run will also determine the kind of insurance that you need. For example, if your business involves working with hazardous materials or machinery, then you’ll need specialised commercial premises insurance to ensure that in case of an accident, the cost of repairs and compensation is covered by your policy.

We hope this article has been helpful in your quest to learn more about the insurance that electricians need. If you want to learn more about specific types of insurance for electricians, feel free to contact us today or visit Tradies365 for more information.