Power & Communication Line Insurance

Power and communication line construction companies face a tremendous amount of risk from accidents that can cause mild to serious bodily injuries or in rare cases - be fatal.

With power and communication line insurance in place, whatever the accident or injury may be, the insurance company will cover all of the associated costs, and lift a lot of weight from the business's shoulders.

There are a few reasons why power and communication line construction companies need insurance.

For instance, if an employee falls from a ladder while installing or repairing a communication line and breaks their back - the employee can then sue the employer.

When the power and communications line construction company has insurance in place, the insurance company will cover all of the expenses related to reimbursements for lost wages, medical and hospital bills, legal fees, and more.

Many power and communication line construction companies work with large and in some cases - government organizations, which are very strict with deadlines and quality of work. If the work completed isn't satisfactory or is delayed, then the construction company can be held liable.

And without the right insurance in place, the financial impact from the lawsuits can be devastating.

There are a few different types of insurance policies that power and communication line construction companies need.

The overall level of protection needed will depend on the number of employees and company cars that the business has, the clients and type of work that is done, the state the company operates out of, and more.

Typically, power and communication line construction insurance costs can range anywhere from $1,000 to upwards of $4,500. These prices will ultimately depend on the level of coverage you have and how large your business is.

On average, the typical power and communication line construction company $70 per month or around $840 per year on general liability insurance. This policy will safeguard your business against claims and lawsuits regarding bodily injuries or property damage.

For businesses in the industry that have company cars, they pay an average of $150 per month or $1,800 per year on commercial auto insurance. Such policy will keep your company vehicles, staff, and any third party involved in the event of an accident.

If the business employs any staff, then for worker's compensation insurance, the average construction company in the sector pays $180 per month or $2,160 per year. This policy will cover your staff’s medical bills, hospital expenses, and lost wages in the event of an injury at work.

It's also common for power and communication line construction companies to pay around $80 per month on professional liability insurance, which is also known as E&O insurance. This policy safeguards your business from lawsuits and claims related to negligence, incomplete or unsatisfactory work.

The most popular insurance claims that power and communication line construction companies make are related to property damage, bodily injuries, and professional mistakes.

In rare cases, these same companies also make claims regarding road accidents, payment disputes with clients, and lost, stolen, or damaged tools and equipment.