Electrical contractors here in Queensland require public liability insurance along with a special cover known as consumer protection.
Unlike many other forms of insurance for tradesmen, the requirement to hold public liability insurance for electricians in Qld is mandatory. Without it you will be unable to apply for or renew your licence.
Electrical Contractors Insurance
Whilst there are various forms of insurance available to Qld electricians such as income protection and tool insurance, the most commonly required form of insurance is public liability.
Only certain insurance companies offer a policy to suit the Qld electrician requirements, and in order to obtain or renew your licence you will need to be able to confirm your policy meets the criteria.
Broadford Liability Insurance
A Qld electrical contractor’s insurance policy is based upon broadform liability. Broadform liability is essentially just another name for a public and product liability policy.
A broadform liability policy is generally available in amounts of $5, $10 and $20 million. The minimum requirement for Qld electricians is $5 million.
It is important not to choose a policy based on the broadform coverage alone, as your electrician insurance in Qld must also include consumer protection cover.
Consumer Protection Insurance
All policies which meet the eligibility requirements for an electrical contractors licence in Qld must include a special option called consumer protection insurance.
The requirement for consumer protection insurance is unique to Qld electricians, and is designed to protect the customers of electricians in Qld.
All policies must contain coverage of at least $50,000 consumer protection to be accepted by the Qld government for an electrician.
Certificate of Currency
In order to obtain or renew your contractor’s licence you will need to provide the licensing authority with a copy of your certificate of currency.
You cannot just use any certificate of currency issued by your broker or insurance company. Instead you must have your broker complete the special certificate issued by the Qld government.
The special certificate of currency issued by the government confirms that the policy you have been issued does comply with the broadform liability and consumer protection requirements.
The good news for Qld electricians is that the insurance they need does not have to be expensive.
A suitable policy can be had from around $700 for the minimum acceptable amount of cover. This price can vary depending on the specific details of your business, and the best way to get a firm quote is via an insurance broker.
For more information on the insurance requirements for Qld electricians check out the official government website or contact your insurance broker.