Deciding on the best electrician insurance first requires identifying the kinds of electrical services being offered, the corresponding risks, and whether work vehicles are being used. Then electricians need to choose among the many insurance providers and brokers that offer business coverage.
To help electricians narrow their choices, we’ve chosen the top five electrician insurance providers, based on reputation:
- The Hartford: Overall best electrician insurance provider
- Hiscox: Best for microbusinesses and solopreneurs
- Progressive Commercial: Best for commercial auto insurance
- CoverWallet: Best for undecided business owners
- AP Intego: Best for workers’ compensation
The Hartford: Overall Best Electrician Insurance Provider
We selected The Hartford as the best overall insurance provider for electricians due to the generous limits in most of The Hartford’s basic policies, its long-standing reputation for being one of the leading insurance providers in the country, and its top-notch customer service. This, alongside its A+ (Superior) rating from A.M. Best, makes it the ideal insurance provider for electricians.
The Hartford Strengths | The Hartford Weaknesses |
|---|---|
Offers online quotes within 10 minutes | Can’t provide coverages in the following states: Alaska, Hawaii, and New Jersey |
Excellent and attentive customer service | Not able to apply business claims on their mobile app |
Can offer policies best suited for any business, electricians included | May not always get the quote immediately after applying online |
Coverage Highlights
The Hartford’s Spectrum Business Owners’ Policy (BOP) includes the following offerings:
- Customized coverage based on class, risk, and type of business
- Enhanced Stretch® package with increasing blanket limits when you go up to a higher Stretch® limit
- Provides comprehensive coverages and limits across all Stretch® levels.
The Hartford’s property coverages are now more customizable as well, with higher limits and broader terms applied to the majority of the coverages included. On top of this, “pay-as-you-go” billing solutions, based on actual payroll, help business owners manage their cash flow.
Costs
The median cost for The Hartford’s commercial insurance is $55 a month, or $660 per year, and its general liability insurance carries a minimum annual premium of $250 and discounts for bundling.
Hiscox: Best for Microbusinesses and Solopreneurs
Considered one of the best insurance providers for small businesses, Hiscox offers various coverages for several industries and more than 180 professions, including electricians. What makes Hiscox stand out is its 5% discounts for BOPs and general liability insurance.
Hiscox Strengths | Hiscox Weaknesses |
|---|---|
Ability to receive quotes and purchase insurance policies online | Licensed to sell business insurance to every state except Alaska and Washington, D.C. |
Claims center is available for policyholders 24/7 | General liability coverage only available in 39 states |
Offers customizable coverages based on industry and number of employees | Doesn’t have a mobile app |
Most online requests for changes resolved within the same day |
Coverage Highlights
Hiscox offers certificates from the Association for Cooperative Operations Research and Development (ACORD), a nonprofit insurance industry organization that provides standardized forms and certificates being used by almost all property and casualty insurance carriers in the country. These are internationally recognized certificates of insurance that summarize important information about each policy. Some information on the ACORD certificate of liability form includes the types of insurance and their corresponding limits.
Costs
Hiscox offers a minimum monthly insurance premium of $288 for its general liability insurance, with an occurrence limit of $1 million and an aggregate limit of $2 million for electricians. The costs of liability insurance will depend on the size of the business, industry, business location, and types of coverage needed, based on risks.
Progressive Commercial: Best for Commercial Auto Insurance
Progressive Commercial is best known for its extensive commercial auto coverage. For electricians who need their trucks, trailers, or business vehicles insured, Progressive Commercial offers an average discount range between 10% and 15%.
Progressive Commercial Strengths | Progressive Commercial Weaknesses |
|---|---|
Quick one-stop shopping for both auto and business insurance | No online chat assistance |
Great discounts for auto insurance | Can only manage self-service for Commercial Auto policies via Progressive app |
Business program that specifically caters to small businesses | Route majority of their insurance policies through their partners |
Ability to pay, seek roadside assistance, and report a claim via Progressive app |
Coverage Highlights
Progressive Commercial offers a program called the Progressive Advantage Business Program. This gives you access to the most common types of business insurance, such as BOPs, contractors liability, professional liability, cyber insurance, and workers’ compensation.
Costs
Electricians who own trucks can apply for the Progressive Smart Haul Program, where they can save an average of $1,106 as new customers that use an electronic logging device (ELD). Electricians who neither own nor use an ELD can apply for Snapshot ProView, which allows them to access Progressive Commercial’s complimentary fleet management tools at a 5% discount.
Progressive Commercial also offers nine different kinds of commercial auto insurance discounts to its qualified customers. The customer qualifications include:
- Having been in business for more than three years
- Having had insurance coverage for the past 12 months
- Insure their personal vehicles through Progressive
- New truck customers
CoverWallet: Best for Undecided Small Business Owners
Among insurance brokers, CoverWallet stands out especially for business owners who are not sure what insurance coverage to get based on their needs and risks. CoverWallet’s extensive information on the kind of coverages you can get, its payment plans and coverage amounts for each insurance type, can help you decide on which coverages are right for your business.
CoverWallet Strengths | CoverWallet Weaknesses |
|---|---|
Provides instant online quotes from leading insurance providers | Doesn’t have a mobile app |
Coverage available for more than 50 professions in 24 industries | No online chat assistance |
Provides relevant price and coverage information for many policies | Charges broker fees |
Ability to purchase insurance policies online |
Coverages
CoverWallet offers small business owners from more than 20 industries the most common policies for their needs, including general liability, workers’ compensation, professional liability, commercial property, commercial auto, and more.
Also, based on your risks and needs, CoverWallet provides detailed information about which coverage would be best for you.
Additional Features
CoverWallet offers an open platform called CoverWallet API, where business owners can get and buy quotes, buy insurance, manage their policies online, and get certificates to prove their insurance is active.
The following are some of the benefits that you can get when you consolidate all of your policies with CoverWallet:
- Dedicated concierge-like services
- Processing of unlimited certificates
- Notification before policy expires
- Peer risk and policy comparison
- Claim support
AP Intego: Best for Workers’ Compensation
AP Intego is the leading affinity small business insurance broker that offers tech-driven and customized insurance policies based on business owners’ risks and needs. Offering pay-as-you-go (PAYG) options for workers’ compensation plans, AP Intego makes sure that these are automatically deducted every month from payroll services like Quickbooks and Square.
AP Intego was acquired by Next Insurance in early 2021. As both Next Insurance and AP Intego share the same goal of helping small businesses thrive in their respective industries, AP Intego has reassured its customers that their services, accounts, and billing will remain the same and that this acquisition will mean more competitive digital options on core insurance products.
AP Intego Strengths | AP Intego Weaknesses |
|---|---|
Partnered with leading insurance providers such as The Hartford and Employers, among others | Only offers core insurance policies |
Has an online policy management system that can instantly provide certificates of insurance | Pay-as-you-go is only available for workers’ compensation |
Online chat assistance | Online quotes platform may encounter problems while processing instant quotes |
Coverages
AP Intego offers common insurance lines such as BOPs, workers’ compensation, general liability, commercial property, commercial auto, and professional liability, in all 50 states.
Additional Features
In addition to the pay-as-you-go feature for workers’ compensation that helps you predict cash flow and avoid surprises at audit, AP Intego also offers a multi-carrier choice advantage that helps business owners get more options and better price points. Using AP Intego’s SmartAgent quoting technology, business owners can get instant quotes from carrier partners.
How We Evaluated the Best Electrician Insurance Providers
Evaluating electrician insurance providers means considering numerous things, especially since not all insurance providers have enough appetite and expertise to provide the best insurance coverage for this profession. Price is an immediate consideration in choosing the best insurance provider for electricians. We also took into account whether or not these providers can offer their services in all states. Lastly, we considered convenience for business owners via online quotes, applications, and policy management systems.
Bottom Line
Electricians need an insurance provider that can provide policies specific to their business at the right price. The first step in determining which insurance provider can best suit your business is identifying your needs and risks and which insurance policies can address them. Only then will you be able to find the appropriate provider for your business. Our pick of the top five electrician insurance providers should be a good place to start your search.
