As an oilfield electrical contractor, you have a crucial yet dangerous responsibility to the oil and gas industry and the lives of billions around the world. That’s why we want you to be protected while on the job. Whether you are installing an electrical grid at an oil or gas rig, troubleshooting equipment, supervising on-site, or maintaining/servicing an installed electrical system, ALIGNED has custom insurance packages that protect your business and employees against liability, litigation, and risks.
Why is Oilfield Electrical Contractor Insurance Important?
Accidents and injuries can happen while on the job, especially because you are working with heavy machinery, complex equipment, and dangerous environments. Here are some of the risks that can occur:
- Exposed electrical systems can cause fires that spread quickly and cause bodily injuries and property damage.
- Theft or damage to equipment, tools, and machinery that you rely on to perform your job.
- Bodily injuries or property damage caused by equipment and machinery you operate.
- Property damage to your equipment, tools, and machinery on and off-site.
Having oilfield electrical contractor insurance can protect your business and employees when accidents or claims happen from your clients during and after operations.
What Does Oilfield Electrical Contractor Insurance Cover?
What your oilfield electrical contractor insurance covers widely depends on your budget, job requirements, regulations, work environment, and risk management concerns.
Whether you work at an oil or gas rig in Alberta, Nova Scotia, or somewhere else in Canada, here is what oilfield electrical contractor insurance commonly includes:
Commercial General Liability Insurance – Also known as CGL insurance, commercial general liability insurance is common for oilfield electrical contractors. It provides protection coverage for bodily injury and property damage arising from the operations performed on-site and while operating your business in general.
Commercial Property Insurance – Protects your property of damages and losses resulting from theft, fires, lightning, earthquakes, floods, windstorms, etc. It covers the replacement cost and actual value of your property, and the types of perils covered depend on the coverage you choose.
Umbrella Liability Insurance – Written over primary liability policies, such as Commercial General Liability insurance, it provides additional coverage that exceeds the protection limits of your primary policy. It also provides protection against certain claims that are not covered by your primary policy.
Find the Right Custom Oilfield Electrical Contractor Insurance, so Your Business Doesn’t Go Off the Grid.
ALIGNED works with Canada’s top insurance companies to provide custom oilfield electrical contractor insurance packages at affordable prices. Contact an ALIGNED commercial insurance specialist for a free quote, or use our free online tool today.
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