As an electrician in Arkansas, having proper insurance coverage is crucial for protecting your business, meeting state requirements, and securing contracts. This comprehensive guide breaks down the essential insurance coverages Arkansas electricians need, including costs based on our analysis of actual quotes from leading carriers.
Get your business properly grounded with our overview of electrical liability insurance.
General Liability Insurance for Arkansas Electricians
General liability insurance protects your electrical business from third-party claims of property damage and bodily injury. Based on our analysis of over 1,200 electrician quotes, here are the typical costs for Arkansas electricians:
Average Annual Premiums by Revenue Size
| Revenue Size | Average Premium | % of Revenue | Favorable Rate | Potential Savings |
|---|---|---|---|---|
| $150K | $1,400 | 0.9% | $900 | 36% |
| $500K | $3,800 | 0.8% | $2,900 | 24% |
| $1M | $7,200 | 0.7% | $5,100 | 29% |
These premiums assume:
- Clean claims history (5+ years without incidents)
- Standard $1M/$2M coverage limits
- Mix of residential and commercial electrical work
- Approximately 10% subcontractor costs
Worker’s Compensation Insurance for Arkansas Electricians
Worker’s compensation insurance is essential for Arkansas electrical contractors with employees. Based on our analysis, Arkansas electricians typically pay $579 per employee annually for workers’ compensation coverage, one of the lowest rates nationwide.
For Arkansas electricians, workers’ compensation costs per $100,000 of payroll average $1,330, making it one of the most affordable states for coverage.
Key premium factors include:
- Employee classification codes (typically 5190 for electricians)
- Annual payroll
- Claims history
- Safety programs
- Experience modifier rating (EMR)
Additional Business Insurance for Electricians in Arkansas
Beyond general liability and workers’ compensation, Arkansas electricians should consider:
- Tools & Equipment Coverage (Inland Marine)
- Annual premiums: $200-$2,000
- Coverage limits: $5,000-$15,000+
- Protects electrical tools and testing equipment
- Commercial Auto Insurance
- Cost: $1,500-$3,050 per vehicle annually
- Standard limits: $100K per person, $300K per accident
- Required for business-owned vehicles
- Contractor’s E&O Insurance
- Annual premiums: $50-$500
- Coverage limits: $10,000-$1M+
- Protects against faulty workmanship claims
- Electrician License Bonds
- Premium: 1-3% of bond amount
- Costs vary by credit score
- Required for licensing in Arkansas
- Commercial Property Insurance
- Annual premiums: $1,000-$5,000
- Protects workshops and storage facilities
- Coverage based on property value
Get Arkansas Electrician Liability with ContractorNerd
ContractorNerd specializes in making insurance simple and data-driven for Arkansas electricians. Our platform offers:
- Instant online quotes from top-rated carriers
- Side-by-side coverage comparisons
- Electrician-specific expertise and guidance
- Streamlined application process
- Ongoing policy management support
- Claims advocacy when needed
Our team of electrical contractor insurance specialists understands Arkansas’s unique requirements and can help you:
- Optimize coverage levels based on your specific risks
- Find competitive rates through our carrier network
- Bundle policies for additional savings
- Ensure compliance with state regulations
To get started with tailored quotes for your Arkansas electrical business, visit our online quote tool or speak with one of our electrical contractor insurance specialists today.