Electrical contractors are expected to be in high demand within the coming years, as the electric vehicle (EV) market begins to take off with more automotive manufacturers shifting their production focus on electric power. The adoption of EVs presents new opportunities for skilled electrical contractors who very well will be tasked with installing, repairing, and maintaining charging stations across the nation. The right, specialized insurance coverage is vital when performing this type of work. PowerPro offers solutions specifically catered to the coverage needs of electrical contractors and has the capacity to insure professionals breaking into the EV charging station market and other electrical service sectors.
Coverage Examples include: Blanket Additional Insured, Per Project Aggregate, Blanket Waiver of Rights, Primary Non-Contributory, Completed Operations, and more. The program is underwritten by an A.M. Best “A+ Rated” Carrier.
Definition: This coverage may be used from General Contractor down to the insured. Blanket additional insured endorsements: XIL 2010 & XIL 2037 are proprietary forms with the equivalent language to the CG2010 & CG2017 07/04 & 10/01 edition dates
Claim Example: There is a contract in place between the general contractor and the subcontractor which requires the general contractor to be included on the subcontractor’s insurance policy as an additional insured regardless of fault. There is a loss in which the GC was 100% at fault. If the correct edition is not used, the subcontractor’s general liability policy may not provide coverage as required.
Scenario 1: The subcontractor includes the general contractor as an additional insured on their general liability policy via ISO endorsements CG 2010 and CG 2037 10/01. In this scenario, the subcontractor’s general liability policy will pay the entire loss since the 10/01 endorsement editions do not require there to be fault.
Scenario 2: The subcontractor includes the general contractor as an additional insured on their general liability policy via ISO endorsements CG 2010 and CG 2037 07/04. In this scenario, the subcontractor would have to pay the loss out of pocket depending n the language found in the contract. The 07/04 endorsement edition dates would not provide coverage under the general liability policy for the subcontractor because they were not at fault or partially at fault.
Description: General liability coverage that buys back a small portion of pollution exclusion.
Claim Example: A hydraulic hose on an aerial lift bursts and spills over a client’s driveway. The cost for damage to the driveway is covered in this scenario.
Description: Provides coverage for damages caused by chemicals that leak from your auto which are not ordinarily covered by the standard ISO auto offering.
Claim Example: A company truck is involved in an accident and overturns, spilling pollutants over the road and possibly into the local water system (nearby pond, sewer, etc.). The damage to the water supply, loss of chemicals, and cleanup is covered in this scenario.
The consumer electric vehicle (EV) market continues to grow annually with more manufacturers producing new electric models. This current trend shows no signs of slowing down in the near future. As more consumers purchase EVs, the demand for commercial charging stations ultimately increases as well. A recent count by the US Dept. of Energy listed a total of 41,400 commercial EV charging stations in the United States, of which less than 5,000 are fast chargers. Compare this to the over 136,000 gas stations available nationwide for ICE drivers. Much work needs to be done!
As demand continues to grow, so does the opportunity it presents for electrical contractors. Currently, personal, at-home charges stations are the most reliable source of power for EV drivers with commercial charging bays often being far and few between. As consumers will require more commercially available charging stations that mirror the current infrastructure of the nation’s gas station, electricians will be sought after for their skilled services.
Building out the EV charging infrastructure across the US will take a serious commitment on the part of the Federal government. In the last several years, there has been a significant push from the federal, as well as state and local governments to develop new initiatives to expand the use of electric vehicles throughout the country. Increasing the number of EV chargers has become a national “green” priority, with numerous grants, tax credits, and rebates available – and more likely to be added. Additionally, the need for skilled labor capable of handling development of this magnitude will be increased as more consumers buy electric vehicles.
This type of work will require electricians to carry specialized insurance coverage that is capable of handling any risks, claims, and exposure associated in this sector. PowerPro provides general liability insurance all-lines coverage (including Workers’ Comp and Umbrella) for electrical contractors, plus many coverage enhancements tailored specifically to the specific insurance needs of commercial electricians and contractors dealing in the installation, service and repair of electrical apparatuses. With PowerPro, electrical contractors can focus on growing their business through the electric charging station market.
- Electrical Contractors, Electrical Apparatus Install, Service, Repair
- Program is admitted and written in all states
Minimum Package Premium
- ISO-Based, Admitted Package Product
- Carrier Rated A+ (Superior) Financial Size XV by A.M. Best
- Highly Competitive Rates
- Superior Customer Service
- General Liability – Premises and Operations (up to $1M per occurrence, $2M general aggregate, $2M products completed operations aggregate)
- Auto Liability & Physical Damage ($1M Combined Single Limit)
- Property (limits up to $3M Total Insured Value)
- Inland Marine (limits up to $3M)
- Umbrella Liability
- Contractors Pollution Liability
- Employment Practices Liability
- Cyber Liability
- Workers’ Compensation (Statutory Limits)
- Completed and signed ACORD applications
- Completed and signed PowerPro Supplemental
- FEIN Number
- 4 years of currently valued, hard copy loss runs for all lines of business being requested
Dawn Saunders, CPCU, ARM, CRIS, serves as Program Manager for the Site and Site II programs with more than 25 years of P&C experience. Dawn has extensive experience underwriting and managing construction accounts. She is adept at identifying customer needs, developing solutions and achieving results. Dawn earned her undergraduate degree in Business Administration from University of Massachusetts – Lowell and her MBA from Suffolk University.
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