As an electrician in Delaware, 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 Delaware electricians need, including costs based on our analysis of actual quotes from leading carriers.
Generate more business insight with our overview of electrician business insurance.
General Liability Insurance for Delaware 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 Delaware electricians:
| Revenue Size | Average Premium | % of Revenue | Favorable Rate | Potential Savings |
|---|---|---|---|---|
| $150K | $1,700 | 1.1% | $1,200 | 29% |
| $500K | $4,700 | 0.9% | $3,700 | 21% |
| $1M | $8,700 | 0.9% | $5,800 | 33% |
These premiums assume:
- Clean claims history (5+ years without incidents)
- Standard $1M/$2M coverage limits
- Typical mix of residential and commercial work
- Approximately 10% subcontractor costs
Worker’s Compensation Insurance for Delaware Electricians
Worker’s compensation insurance is mandatory for Delaware electricians with employees. Based on our analysis, Delaware electrical contractors typically pay $1,660 per employee annually for workers’ compensation coverage.
For Delaware electricians, typical workers’ compensation costs per $100,000 of payroll average $3,000, which is moderate compared to other states.
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 Delaware
Beyond general liability and workers’ compensation, Delaware electricians should consider:
1. Tools & Equipment Coverage (Inland Marine)
- Cost: $200-$2,000 annually
- Coverage limits: $5,000-$15,000+
- Protects electrical tools and testing equipment
- Coverage for both owned and rented equipment
2. Commercial Auto Insurance
- Typical cost: $1,500-$3,050 per vehicle annually
- Standard limits: $100K per person, $300K per accident
- Required for business-owned vehicles
- Higher limits ($500K-$1M) recommended
3. Contractor’s E&O Insurance
- Annual premiums: $50-$500
- Coverage limits: $10,000-$1M+
- Protects against claims of faulty work
- Includes professional negligence coverage
4. Commercial Property Insurance
- Protects offices, storage facilities, and workshops
- Annual premiums: $1,000-$5,000
- Coverage for fire, theft, vandalism
- Based on property value and location
5. Electrician License Bonds
- Cost: 1-3% of bond amount
- Common amounts: $5,000-$25,000
- Premium varies based on credit score
- May be required for licensing
Get Delaware Electrician Liability with ContractorNerd
ContractorNerd specializes in making insurance simple and data-driven for Delaware 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 Delaware’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 and contract requirements
To get started with tailored quotes for your Delaware electrical business, visit our online quote tool or speak with one of our electrician insurance specialists today.