As a person who is hired for the installation and repair of equipment at any location, there is a high chance of things going haywire while you are working. For instance, you mistakenly make a mess of your client’s antiques. This will get your heart racing immediately, especially if you do not have the right protection. Thus, if you have multiple skills and various handy tasks and assignments, with handyman insurance, you will be able to get the best and perfect coverage for your needs.
What is Handyman Insurance?
Handyman insurance is a type of insurance coverage designed to protect individuals who work as handymen or handywomen. It typically includes liability coverage to protect against property damage or injury claims that may arise while performing handyman services. Generally, handyman insurance includes general liability insurance and other additional coverage for specific jobs.
What Does Handyman Insurance Cover?
Handyman insurance typically covers liability for property damage or bodily injury that occurs while performing handyman services. This includes:
- Bodily injury
- Medical payments
- Damage to property rented to you
- Personal and advertising injuries
• Bodily Injury
This involves coverage for third-party bodily injuries. If, because of your work, a customer or public member gets injured, the medical bills are covered by handyman insurance.
• Medical Payments
Medical payments are another thing that Handyman Insurance offers coverage for. For example, if a customer or a public member is injured on a worksite, this insurance will cover the bills.
• Damage to Property Rented to You
If you are renting a space or building for your work and something causes damage to the property, you do not have to worry about anything because your policy has got you covered.
• Personal and Advertising Injury
If you have a handyperson insurance policy, you can get protection for your business against advertising and personal injuries like copyright infringement, libel, and slander. So, defense costs for legal representation will be covered.
Other business owners’s policies include:
- Business interruption insurance
- Business liability insurance
- Commercial property insurance
- Equipment breakdown insurance
- Workers compensation insurance
- Inland marine insurance
- Commercial umbrella insurance
- Commercial car insurance
- Hired and non-owned auto insurance
- Surety bond
What Does It Not Cover?
There are some problems and situations that handyman insurance will not cover. Therefore, if you are interested in getting a policy, here are some of the exclusions:
- Infectious diseases
- Earthquakes
- Unfair and inappropriate termination
- Floods
- Intentional and fraudulent acts
- Government seizures
As for inappropriate and wrongful termination, you will need employment practices liability insurance.
Who Needs Handyman Insurance?
Anyone who is working as a handyman needs to get coverage. Besides, if you are looking to get a contractor’s license in most states, you need handyman liability insurance. Here are some of the people and professions that need a quote:
- Painters
- Tilers
- Window installers
- Concrete workers
- Carpenters
- Door installers
- Framers
- Floor installation and repairers
- Staining furniture.
- Home security installers
- Remodelers
- Waste and junk removal workers
- Furniture and other item movers
- Ceiling fan installers
- Decks and patio builders
- Electrical workers
- Plumbers
- Stoneworkers
- General maintenance workers
If you specialize in any of these jobs or professions, you should consider getting a handyman insurance policy.
How Much Does Handyman Insurance Cost?
To be specific, the cost of a handyperson insurance policy is affected and determined by different factors. Nonetheless, the average cost of this type of insurance policy is $2,795 per year. Other factors affecting the cost include:
- The type of policy
- Business location
- Number of employees
- Coverage limits
- Deductibles
- Claim history
- How long you have been in business
- Payroll size
- Business assets
How to Get Handyman Insurance
Although getting a handyman insurance policy is possible through working with a broker and shopping online, there are more things to consider when trying to get a quote. For a better understanding, here are some helpful tips that you can apply when trying to find the best handyperson insurance that suits your needs:
- Assess your risks.
- Find out what type of insurance you need.
- Shop around.
- Gather all the necessary documents.
- Bundle your business insurance.
Then, put in an application for a quote. With help from this section, you will be able to successfully obtain the best coverage and find a reliable insurance company.
FAQs
Do I need handyperson insurance if I’m self-employed?
Yes, having handyman insurance is important if you’re self-employed because it helps protect you from potential financial losses due to accidents or damages that may occur while working.
Can I get handyperson insurance if I have a criminal record?
Whether you can get handyman insurance with a criminal record depends on the severity of the offense and the insurance company’s underwriting guidelines. Some insurers may be willing to provide coverage with certain restrictions or higher premiums, while others may deny coverage altogether.
How do I get handyman insurance?
You can get handyperson insurance by contacting insurance companies that offer commercial liability insurance or by working with an insurance broker who specializes in coverage for small businesses. They can help you assess your insurance needs and find a policy that suits your requirements.
What should I look for in a handyperson insurance policy?
When choosing a handyman insurance policy, it’s important to consider factors such as the coverage limits, deductibles, exclusions, and reputation of the insurance company. You should also ensure that the policy meets any requirements set by your clients or regulatory authorities in your area.
