Working in the electrical field involves significant risks – from fire, live electrical wires and power transmitters to electrocution incidents, installation faults and defective equipment. Add to that – a multitude of tools, working at heights from a ladder or scaffolding and working with exposed live parts.
It’s because of these risks that public liability insurance is mandatory for electricians. In some states around Australia, you might find that electricians will need to have their public liability insurance sorted before they can get their electrical contractors licence to ‘conduct’ domestic and commercial work.
What is Public Liability Insurance?
Public liability insurance is designed to protect self-employed and subcontracting tradies like electricians, from the high financial risks that may result from damage to property or personal injury to other people (customers etc.) while going about the necessary tasks of your daily business.
How will it help me?
In the unfortunate event that some part of your electrical trade activity causes damage to someone’s property or worse, injures another person, it’s likely you will be held liable for the associated financial costs. Without public liability insurance you are putting your electrical business at risk as this would otherwise have to come from your own pocket or from your personal assets. With public liability insurance however, you can rest at ease that as long as the incident is within your policy limits, you’ll be covered and the insurance company will work it out.
It’s important to note that public liability covers you only for the public liabilities involved in your work, which of course means that it does not cover injuries to you or your employees, for those you’ll need personal accident insurance and a workers’ compensation policy.
Risky business requires quality insurance
Depending on the type of work you’re doing, public liability insurance should be a minimum of $5 million.
Electricians have a lot of responsibility on their hands in terms of managing associated risks, as well as ensuring they install everything correctly and follow procedures to ensure the safety of their clients/customers. It’s important to have a quality insurance that covers your needs as a tradie.
If you are an employee, rather than a contractor or subcontractor you won’t need to get your own public liability insurance, you’ll be covered by the insurance policy your employer will already have in place. The minute you decide to do any work on the side or start up as a subcontractor – you’ll need to change this and get your own public liability insurance policy.
All Trades Cover makes arranging public liability insurance quick and easy for electricians. Speak to one of our professional staff form expert advice on high risk trades or obtain a quote today to put your mind at ease and ensure the safety of your electrical business.