As an electrician in North Dakota, 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 North Dakota electricians need, including costs based on our analysis of actual quotes from leading carriers.
Generate success with our overview of commercial electrician liability insurance.
General Liability Insurance for North Dakota Electricians
General liability insurance protects electrical contractors 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 North Dakota electricians:
| Revenue Size | Average Premium | % of Revenue | Favorable Rate | Potential Savings |
|---|---|---|---|---|
| $150K | $1,600 | 1.1% | $1,000 | 38% |
| $500K | $4,300 | 0.9% | $3,100 | 28% |
| $1M | $8,000 | 0.8% | $6,400 | 20% |
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
Key coverage includes:
- Property damage during electrical work
- Bodily injury to clients or bystanders
- Completed operations coverage
- Faulty workmanship protection
Worker’s Compensation Insurance for North Dakota Electricians
Worker’s compensation insurance is mandatory for North Dakota electrical contractors with employees. Based on our analysis, North Dakota electricians typically pay:
Per Employee:
- Average annual premium: $847 per employee
- One of the lowest rates nationwide for electrical contractors
Per $100K Payroll:
- Average premium: $1,350 per $100K of payroll
- Significantly below the national average
Key factors affecting premiums:
- Job classification codes (primarily 5190 for electrical work)
- Total payroll
- Claims history
- Safety programs and protocols
- Experience modifier rating (EMR)
Additional Business Insurance for Electricians in North Dakota
1. Tools & Equipment Coverage (Inland Marine)
- Annual premiums: $200-$2,000
- Coverage limits: $5,000-$15,000+
- Protects electrical tools and testing equipment
- Coverage at job sites and during transit
2. Commercial Auto Insurance
- Cost: $1,500-$3,050 per vehicle annually
- Standard limits: $100K per person/$300K per accident
- Higher limits recommended ($500K-$1M)
- Required for work vehicles
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. Electrician License Bonds
- Premium: 1-3% of bond amount
- Cost varies by credit score
- Fulfills state licensing requirements
- Guarantees quality of work
5. Commercial Property Insurance
- Cost: $1,000-$5,000 annually
- Protects workshops and storage facilities
- Covers tools, equipment, and inventory
- Protection against fire, theft, and weather damage
Get North Dakota Electrician Liability with ContractorNerd
ContractorNerd specializes in making electrical contractor insurance simple, efficient, and data-driven. Our expertise includes:
- Specialized knowledge of North Dakota electrical contractor requirements
- Access to multiple A-rated insurance carriers
- Data-driven insights from over 1,200 electrician quotes
- Streamlined application and quote process
- Ongoing policy management support
Our insurance specialists help you:
- Navigate state-specific requirements
- Compare coverage options
- Find competitive rates
- Ensure proper protection
- Manage certificates and policy updates
Let ContractorNerd help you secure comprehensive coverage tailored to your electrical contracting business needs.