Most Australian states require that elections hold public liability insurance, but here in Qld there is an additional requirement that states the cover must include a special option known as consumer protection.
The Qld State Government requires that all electrical contractors hold an Electrical Contractors Licence, and in order to obtain or renew this licence the applicant must have an appropriate insurance policy in place.
The required insurance is a public liability policy of at least $5 million, plus a special inclusion known as consumer protection insurance.
The amount of consumer protection insurance required is no less than $50,000.
A special certificate of currency is required in order to apply for or renew a licence, and the certificate must be signed and stamped by the insurance broker.
Not all insurance providers offer a public liability policy which meets the Qld requirements.
If you are speaking with your insurance broker and they are not familiar with the requirements, make sure they don’t give you a normal policy as it won’t be good enough for your licence.
Electrical Contractors Licence
Once you have obtained your appropriate public liability and consumer protection insurance policy, as well as the correct Qld State Government approved certificate of currency, you will be ready to apply for or renew your electrical contractors licence.
Of course there are other requirements when applying for a licence, such as having the right qualifications, but generally it is the insurance requirement which holds up most licence applications.
The licensing authority is very specific on making sure the name on your licence application is an exact match for the name on your certificate of currency, so make sure you get the details spot-on in terms of your company or trading name if applicable.
As with all forms of insurance, this price for Qld electrician’s public liability cover can vary from company to company.
A recent survey of insurance brokers revealed a premium of between $550 and $850 per year. If you are quoted higher than this figure it may be worth asking your broker for a better price or to start shopping around.
Your public liability insurance cost can be affected by other factors, so best to check with your broker for the coverage details before rushing off to use someone offering a cheaper price.
For more information on public liability and other forms of insurance for Qld electricians please speak with your broker or insurance adviser.