Being an electrician can be a challenging but rewarding career. Electricians work with high voltage and are exposed to electrical shocks and burns on a regular basis. While safety precautions are always taken, accidents can still happen. As a result, electricians need to ensure they have adequate insurance coverage to protect themselves and their business from financial harm.
What are the Most Common Risks of being an Electrician in Michigan?
- According to the Bureau of Labor Statistics, electrical work is one of the most dangerous occupations in the United States. In 2020, the BLS reported 137 fatalities from contact with electrical current, with electricians being one of the most at-risk occupations. Additionally, electricians are at risk for burns, falls, and other accidents on the job. As a result, electricians need to ensure they have proper insurance coverage to protect themselves from potential financial ruin in case of accidents.
Types of Insurance Required for Electricians in Michigan
- There are several types of insurance electricians should consider, including general liability, workers’ compensation, and professional liability insurance. General liability insurance covers damages to property or personal injury that occurs as a result of work performed by the electrician. Workers’ compensation insurance provides coverage for employees injured on the job. Professional liability insurance, also known as errors and omissions insurance, covers claims of negligence or mistakes made by the electrician.
Why is Workers Compensation insurance Important for Electricians in Michigan?
- Workers’ compensation insurance is particularly important for electricians, as they are at high risk for on-the-job injuries. In Michigan, employers are required to carry workers’ compensation insurance for all employees. This coverage provides medical and wage benefits to employees who are injured on the job. Electricians should ensure they have proper workers’ compensation coverage to protect themselves and their employees.
Are Electricians Required to Purchase Professional Liability Insurance in Michigan?
- Professional liability insurance, also known as errors and omissions insurance, is also important for electricians. This coverage protects electricians from claims of negligence or mistakes made on the job. For example, if an electrician makes a mistake that causes a fire or other damage to a client’s property, the client could sue for damages. Professional liability insurance would provide coverage for legal fees and damages awarded in a lawsuit.
The work of an electrician is not without risk. They face potential dangers from high voltage, electrical shocks, burns, and other on-the-job accidents. Therefore, it's important for electricians in Michigan to ensure they have the proper insurance coverage to protect themselves and their business from financial harm. Like a sturdy safety harness protecting a rock climber, insurance coverage can provide peace of mind and financial security to electricians as they work to power up homes and businesses throughout the state.