Your electrical contracting business powers homes, businesses and infrastructure across South Carolina. Unfortunately, your work is high risk by nature. One surprise expense (a wiring-related fire, a worker injured on a job site or a client who sues you for faulty installation) can put your whole company at risk. We believe in your business and want you to have affordable insurance that meets state requirements and protects your property, team and income. You can avoid shocks of the financial kind with this quick guide, which breaks down:
A Business Owner’s Policy for electrical contracting companies saves you money by bundling general liability, property insurance and optional business interruption coverage.
Commercial umbrella insurance provides extra coverage when other key policies reach their limits.
Working with Mylo can help you find the right coverage at the best value!
Here are five essential coverages every electrical contracting business should consider to stay protected and profitable:
A business owner’s policy (BOP) for electrical and wiring installation contractors is a smart starting point. It bundles key coverages into one affordable package – ideal for new or growing businesses. Your BOP typically includes:
GENERAL LIABILITY is often required in South Carolina to obtain or maintain local contractor licenses needed for both residential and commercial projects. It covers legal and medical costs if a client or other non-employee is injured or their property damaged by your business and also protects you from advertising-related claims. Examples:
ELECTRICAL CONTRACTOR PROPERTY INSURANCE Helps repair or replace the property you don't take to jobs if disaster strikes – like fire, theft, or vandalism. This includes:
BUSINESS INTERRUPTION INSURANCE Replaces lost income if you need to temporarily pause your business due to covered property damage.
South Carolina law mandates workers’ compensation insurance for all businesses with four or more employees. It covers medical expenses and lost wages for employees injured on the job – and protects you from most employee lawsuits. Examples:
If you use company-owned or personal vehicles to transport materials, tools or employees, South Carolina requires commercial auto insurance.
This helps electrical contracting businesses protect the valuable tools and equipment they bring to jobs. If yours are damaged or stolen while in transit or temporarily stored at job locations, this must-have coverage can repair or replace them. Examples:
Think of this as insurance for your insurance! A commercial umbrella insurance policy provides extra protection when other key policies like your general liability reach their limits, which helps you protect your company's financial assets.
Your amazing company deserves protection that keeps up with your business. Mylo has been innovating insurance for 10 years and connected small business owners with 100,000+ policies. Because we don't sell our own insurance, we can give you an objective recommendation and find you the best value in South Carolina – at no cost to you.
In minutes Mylo will: