David Allan

Expertly compared by David Allan

Products Updated June 4, 2018

Professional Indemnity Insurance For Electricians

Taking out professional indemnity insurance with us will ensure that you are given the right cover that works for your business because it will suit your every need. This type of cover will provide you with the protection that you need should any third party attempt to sue you as a result of negligence.

2 providers expertly compared:

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All credit types
Rated 4.8/ 5

Simply Business Why?
Why?

This provider is our Expert’s Choice in its category as it won tops marks for the following.

  • TRUST
  • VALUE
  • EXPERTISE & KNOWLEDGE
  • CUSTOMER SERVICE

Learn more about how we review and assess the providers here on Lending Expert.

Provider
Simply Business

Products
Small business insurance

speciality
Professional Indemnity Insurance

Simply Business is an insurance broker that specialises in helping small businesses get the professional indemnity cover they need to protect their business. Get a quote for a personal illustration.

2 providers expertly compared:

Available via broker only
All credit types
Rated 4.5/ 5

Hiscox

Provider
Hiscox

Products
Business Insurance

speciality
Professional Indemnity Insurance

Hiscox PI insurance is designed to protect anyone who could face claims and risks associated with such things as negligence, breach of contract, defamation. Cover is available for all business types including sole traders, partnerships and companies.

Professional Indemnity Insurance For Electricians

Working as an electricians means that you work an industry that can prove dangerous which means that there is every possibility that problems can arise. When it comes to electrical work, the number one risk is electric shock to a third party and this could be down to things such as an exposed wire. This is where professional indemnity insurance for electricians is the ideal cover.

Taking out professional indemnity insurance with us will ensure that you are given the right cover that works for your business because it will suit your every need. This type of cover will provide you with the protection that you need should any third party attempt to sue you as a result of negligence, omission or errors on your part. Having a policy such as this will ensure that all costs are covered should you have to pay compensation to a third party as well as costs associated with defending yourself.

PI Insurance For Electricians

PI Insurance For Electricians

We will consider all risks and ask you to complete a short questionnaire that will enables us to understand which cover is right for you whilst ensuring that it is within your budget. This is crucial for your business because protecting yourself in this way will ensure that your business has a bright future should the worst happen.

How does it work?

Professional indemnity insurance for electricians is crucial because it offers you protection in a number of different ways should a claim be made against you. This is slightly different to the usual insurance because you are protected on a “Claims made” basis which means that any claims that are made should be linked to work that you have carried out during the period that this cover was put in place.

If you make any errors whilst carrying out work or if any issues arise after you have completed a job that results in financial losses or any other form of losses for you client they have the right to make a claim against you. This will not only have huge financial implications for your business but it could also signal the end, therefore, this cover will provide financial protection which gives you peace of mind because you will not have to cover any costs.

The features

The features that come with this cover are:

  • It protects your business in many different ways thanks to its extensive cover
  • The credibility of any claim made against you is fully assessed and understood before any payment is released
  • It is a neat policy that brings all of the essentials together, which ensures that you are covered for the duration of the cover which is usually a year
  • This will instantly become an integral part of the running of your business
  • Defending yourself from any claim can be costly, this policy will cover any costs incurred
  • For the length of cover, the policy is written on a “Claims Made” basis and this ensures that you are protected for the duration of the policy should any claims be made
  • Indemnity is available at different amounts
  • Covers the loss of documentation
  • Court attendance costs are covered
  • Monthly payment options are available
  • What are the benefits?

      Your business can take advantage of the following benefits associated with this cover:

      • You will be adhering to any regulatory expectations as well as legal requirements
      • You cannot put a price on reassurance and security and this cover will enable you defend any claims made against you
      • Should your clients be awarded compensation by the courts or an arbitrator this cover will make sure you can pay any costs
      • Defending any claims can be costly, and even if a claim has no real backing your legal costs will still be covered
      • You will benefit from expert advice as well as representation as required
      • Keeping your business running as usual whilst a claim is on-going is important and this cover will enable you to do just that
      • Your business will look professional to anyone who wants to work with you should you have this cover in place

 

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