How much is public liability insurance for electricians?

As an electrician, you are probably aware of how important it is for your business to have public liability insurance. But you’re probably also keen to make sure you get a competitive rate for your insurance premium.

In this video, part of our Public Liability FAQ series, we answer the question ‘How much is public liability insurance for electricians?’.

Why do I need public liability insurance?

Public liability insurance is one of the most important types of insurance protection for electricians. You may find some larger clients insist you have a certain level of public liability cover before they will contract and work with you.

Public liability insurance is designed to protect you and your business in the event something you (or your employees) do causes harm to a member of the public or damages their property.

Claims like these are remarkably common. The amount of money awarded and legal fees can quickly add up to thousands of pounds. If you can’t pay because you don’t have insurance, your business and your assets could be at risk.

How much public liability insurance cover do I need

The amount of cover will depend on a few factors, including the type and size of projects you do and your contractual requirements.

The usual amount of cover for small business electricians ranges from £1 million to £10 million.

If you purchase a lower level of cover, your insurance may cost less but it may not provide you with adequate protection.

How much is public liability insurance for electricians?

This also depends on a few different factors.

The size and set up of your business

A sole trader will normally pay a little less for insurance than a larger company, and the more employees you have the more you will normally pay.

The type of work you do and where you do it

Work done in commercial buildings is considered higher risk than domestic properties and therefore could be a little more expensive.

The type of project

If you only ever do small, simple projects, your insurance may be less than for firms with high-value, complex projects.

The amount of cover you want

Broadly, the more cover needed for your projects, the higher the cost to you will be.
It’s impossible to give an accurate estimate without knowing more about your business. Click here for an online quote today. You can get a quote and cover in minutes.