As an electrical contractor in the United Kingdom, it’s important to have the right insurance in place to protect yourself and your business. Not only is it a legal requirement, but it also gives you peace of mind knowing that you’re covered in case something goes wrong.

When it comes to finding the right insurance for your business, it can be overwhelming to navigate the different options available. That’s where working with an insurance brokerage can be extremely beneficial.

An insurance brokerage, like Aldium Insurance are an independent company that works with multiple insurance providers to find the best coverage for our clients. This means that we can provide you with a variety of options, rather than being limited to a single insurance company.

One of the main advantages of working with an insurance brokerage is that we have the expertise to understand the unique risks and challenges that electrical contractors face. We can help you identify the cover you need and make sure that you’re not paying for unnecessary cover or worse.. not having the right cover.

Another benefit of working with an insurance brokerage is that we can negotiate on your behalf to get you the best rates and terms. Aldium has relationships with multiple insurance providers and can leverage these relationships to get you the best deal possible.

When it comes to insurance for electrical contractors, there are a few key coverage options that you’ll want to consider.

• Public liability insurance. This will protect you in the event that someone is injured or their property is damaged as a result of your work. It’s important to have enough liability indemnity to protect your assets in case of legal action. It may even be required by your client before you can start work.
• Employers’ Liability insurance. This is required by law in the UK and covers medical expenses and lost wages for employees who are injured on the job. This cover will also protect you if you need to defend invalid claims.
• Property Insurance. This will cover any damage to your premises if you operate out of one as a result of theft, vandalism, or natural disasters.
• Business interruption insurance: This type of insurance covers any lost income if your  business is forced to close temporarily due to an insured event, such as a fire or natural disaster.
• Tools or Contents. This type of insurance covers damages to an electrician’s tools and equipment, including theft, fire, or natural disasters
• Vehicles. You may also want to consider getting a quotation to cover your commercial vehicle or fleet of commercial vehicles. Aldium can help with this also.

When it comes to working with an insurance brokerage, it’s important to find one that you can trust. Aldium has been providing insurance solutions to electrical contractors across the United Kingdom for many years. Our team of experts is dedicated to finding the best coverage at the best price for our clients.

We understand the unique risks and challenges that electrical contractors face, and we’re here to help you navigate the insurance landscape. We’ll work with you to understand your business and identify the coverage you need to protect yourself and your assets.

NIC EIC Compliance

If you are a member of the National Inspection Council for Electrical Installation Contracting then you may also have to comply with the insurance requirements to be a member of their certification scheme.

These requirements are in place to protect both the electrician or company and the consumer.

For example, under the NIC EIC’s Approved Contractor Scheme, companies are required to have liability insurance in place to protect against any damages or injuries caused by their work. This insurance must provide a minimum level of coverage, which is determined by the NIC EIC.

Under the NIC EIC’s Domestic Installer scheme, the electrician must have liability insurance in place to cover any damages or injuries caused by their work. Additionally, the electrician must have a valid certification from an insurance company that they have the required insurance coverage.

It’s important to note that the insurance requirements vary depending on the scheme and the specific regulations in the location where the electrician or company is operating. Electricians and companies should check the specific requirements of their scheme and location, and make sure that they have the appropriate insurance coverage in place which Aldium can assist with.

In summary, having the right insurance in place is vital for electrical contractors to operate their business in the United Kingdom. An insurance brokerage like Aldium can provide a variety of options and help you find the best coverage for your unique needs, while also saving you time and money. We have a team of experts who understand the risks and challenges faced by electrical contractors and are dedicated to finding the best insurance solutions for our clients. Don’t hesitate to reach out to us to discuss your insurance needs and how we can help protect your business.