As an electrician in New Hampshire, having proper insurance coverage is crucial for protecting your business, meeting state requirements, and securing contracts. This guide breaks down the essential insurance coverages New Hampshire electricians need, including costs based on our analysis of actual quotes from leading carriers.
Conduct business safely with our overview of electrical business liability insurance.
General Liability Insurance for New Hampshire 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 typical costs for New Hampshire electricians:
Revenue Size | Average Premium | % of Revenue | Favorable Rate | Potential Savings |
---|---|---|---|---|
$150K | $1,500 | 1.0% | $1,000 | 33% |
$500K | $4,000 | 0.8% | $3,500 | 13% |
$1M | $7,800 | 0.8% | $5,600 | 28% |
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 New Hampshire Electricians
Worker’s compensation insurance is mandatory for New Hampshire electrical contractors with employees. Based on our analysis, New Hampshire electricians typically pay $1,923 per employee annually for workers’ compensation coverage.
For New Hampshire electricians, workers’ compensation costs per $100,000 of payroll average $3,460, which is moderate compared to other states.
Key factors affecting premiums:
- Employee classification codes
- Annual payroll size
- Claims history
- Safety programs
- Experience modifier rating (EMR)
Additional Business Insurance for Electricians in New Hampshire
1. Commercial Auto Insurance
- Cost: $1,500-$3,050 per vehicle annually
- Standard limits: $100K per person, $300K per accident
- Higher limits ($500K-$1M) recommended
2. Tools & Equipment Coverage
- Annual premiums: $200-$2,000
- Policy limits: $5,000-$15,000+
- Per-item limits typically $5,000
3. Contractor’s E&O Insurance
- Annual premiums: $50-$500
- Policy limits: $10,000-$1M+
- Covers professional negligence claims
4. Commercial Property Insurance
- Annual premiums: $1,000-$5,000
- Protects workshops and storage facilities
- Coverage based on property value
5. Electrician License Bonds
- Bond amounts: $5,000-$25,000
- Premium costs vary by credit score:
- Excellent credit: 1-2% of bond amount
- Good credit: 2-3% of bond amount
- Poor credit: 3-5% of bond amount
Get New Hampshire Electrician Liability with ContractorNerd
ContractorNerd specializes in making insurance simple and data-driven for New Hampshire electricians. Our platform offers:
- Instant online quotes from top-rated carriers
- Side-by-side coverage comparisons
- Electrician-specific expertise
- Streamlined application process
- Ongoing policy management
- Claims advocacy when needed
Our team of electrical contractor insurance specialists helps you:
- Optimize coverage for 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 New Hampshire electrical business, visit our online quote tool or speak with one of our specialists today.