You’ve got the contract. Your crew is onsite. The COI was approved.
But are you actually covered, or just hoping for the best?
Many electricians in Plano are unknowingly operating with major coverage gaps in their insurance policies. While everything may look good on paper, exclusions buried deep in the fine print can leave you financially exposed when it matters most.
At Neill Insurance, we review dozens of contractor policies each month. Most look solid at first glance, but a deeper inspection often reveals costly gaps. This guide breaks down the 10 most common insurance problems we see in contractor policies and shows you how to fix them before they cost you thousands.
Why Plano Electricians Trust Bad Policies Without Knowing It
Plano and Collin County are in construction overdrive. With 15 billion-dollar developments in progress and thousands of new homes permitted every quarter, electricians are under pressure to get to work fast. And that rush leads to oversights.
Contractors assume they’re covered because:
- They picked a big-name insurance carrier
- Their GC accepted the COI
- They haven’t had a claim, yet
But here’s the truth: a Certificate of Insurance is not a guarantee of coverage. It’s just a summary, not the full story. It doesn’t show what’s excluded, how your class code is listed, or whether your endorsements actually meet GC contract terms.
The 10 Most Dangerous Insurance Gaps for Plano Electricians
Here are the gaps we find most often, even in policies that passed GC review.
Real Stories, Real Losses: When Gaps Cost Contractors
These are real cases from the Plano area that show how damaging these gaps can be:
🛑 $84,000 in Lost Tools — Denied
A contractor left a trailer of diagnostic tools at a jobsite. Overnight fire destroyed it. With no Inland Marine policy, the claim was denied.
🛑 $42,000 in Legal Fees — Out of Pocket
A year after project completion, faulty wiring led to a lawsuit. The contractor had no CG 2037 endorsement. Their insurance wouldn’t defend the claim.
🛑 $36,000 in Medical Bills — On the Hook
A subcontractor fell on a job. The electrician had no Workers’ Comp and was found personally responsible for the medical expenses.
Why Didn’t My Agent Tell Me?
That’s a fair question, and one we hear a lot.
| What Agents Say | What’s Really Going On |
|---|---|
| “Your COI looks fine.” | COIs only show surface-level info. Exclusions and endorsements matter most. |
| “This is our standard policy.” | Standard doesn’t cut it for GCs or public work. You need contractor-specific coverage. |
| “That coverage is too expensive.” | You might get a lower premium, but it can cost you tens of thousands later. |
| “You didn’t ask.” | It’s your agent’s job to advise you, not the other way around. |
How to Spot These Gaps in Your Own Policy
You don’t need to be an expert to start protecting yourself. Follow this quick checklist:
- Request your full policy, Not just your COI
- Look for key endorsements — CG 2010, CG 2037, Waiver of Subrogation, and Primary and Noncontributory
- Check your class code — It should list electrical contracting
- Review equipment and auto coverage — Make sure Inland Marine and HNOA endorsements are included
- Ask your agent this — “If I’m sued tomorrow, can you confirm what is and isn’t covered in writing?”
Don’t Wait for a Claim to Learn the Hard Way
Plano is booming, and insurance requirements are getting stricter every year. A single denied claim could set your business back years, or shut it down completely.
At Neill Insurance, we specialize in helping Plano-area electricians uncover hidden risks in their current policies and fix them fast. You shouldn’t have to wonder if you’re covered. We’ll show you exactly what you have, what’s missing, and how to get protected without delay. Request Your Free Policy Gap Review Today.
