Utility Contractors’ Insurance

The utility contractor industry, like many other green industry sectors, has its high share of risks annually. Due to the nature of the work being performed, it is not uncommon for utility contractor professionals to encounter claims stemming from workplace injuries, property damage due to work performed, or other associated risks. Professional utility contractor companies should always carry the proper insurance to protect themselves from these incidents. Without the right coverage, claims of this nature ultimately can destroy even the largest utility contractor businesses.

General liability is the most essential utility contractor insurance coverage a utility contractor should have for their day to day operations. General liability coverage will protect your business in the event a bodily injury or property related claim arises from your work. Workers’ Comp insurance is also necessary if you have employees, regardless if they are full-time or not. A commercial auto policy will protect your vehicle fleet by providing coverage that a personal auto policy normally will not be able to meet. Whether you’re based from home or have a physical office location, commercial property insurance will not only cover the building location, but also provides insurance on the tools and equipment you have stored there. An inland marine policy will protect any of the equipment you are transporting to and from jobsites.

The amount of insurance you carry is largely driven by the type of work you do and the size of your operation. For residential work, homeowners will be more comfortable with a utility contractor they know has adequate insurance coverage. It is best to have more insurance than you feel is needed because in the unfortunate event a claim occurs, you don’t want to risk your business you spent years building.

utility contractor insurance cost varies from company to company. There are several factors that influence the cost of insurance, ranging from the size of your business, the assets you want to protect, and the area you work in. Additionally, utility contractor insurance costs may be higher depending on the type and scope of the work your business performs. If your utility contractor company generally undertakes higher risk work or utilizes heavy equipment (such as cranes or lifts), you are likely to see a higher premium cost because of the higher rate of exposure your business faces.

The most common claims seen by utility contractor insurance companies vary from property or bodily injury due to work performed, commercial vehicle accidents, and workers’ compensation claims from work related injuries. The most common accidents utility contractor professionals encounter in their work range from transportation-related injuries, falls, being hit by an object, or equipment related injuries.

In the event of a utility related incident caused by your work, the first step is to document the incident in as much detail as possible. Make note of who was involved, the work being done when the incident occurred, and any injuries or damage that occurred. Next, contact your utility contractor insurance carrier to report the incident and provide them with as much detail as necessary. As a UtilityPro member, you’ll be able to utilize our expert claims center to help you manage your claims and ensure your business continues operating without interruption.

UtilityPro offers every client premier service they need to keep their operations running. Our approach is to provide you with the coverage and protection you want and expect from your utility contractor insurance. Additionally, UtilityPro helps you to reduce claims by providing access to our world class risk management services, expert claims assistance, and more. With over 30+ years of industry experience, UtilityPro knows exactly what utility contractor professionals need out of their insurance coverage.