Handyman Insurance

Handyman Insurance

As a handyman, you have the luxury of being your own boss, choosing your hours, and taking pride in your handiwork. The industry itself is quite flexible and involves very few regulations. There are few specific expectations for handymen and most customers only care about the overall cost of the job and the finished product. In such a laid back environment, it is easy to overlook handyman insurance. Handymen do not need to show proof of insurance to anyone or any organization, so it is an easy way for a small business owner to save on costs. Or at least think that they are saving on costs. Being caught without handyman insurance can get you in over your head very quickly. You don’t want to be held liable in the event that something goes wrong and wouldn’t want to shoulder the entire costs of a lawsuit or hospital stay.  This article will help to provide you with the information on the type of insurance you may need, as well as additional resources for your benefit.

According to the United Handyman Association (UHA), most handyman businesses are uninsured. Why is this? Because it isn’t required by the government or any other organization. As stated by the UHA, “The cost is minimal in comparison to the rewards.  The insured handyman can charge more and in most cases the homeowner will gladly pay more for the piece of mind that their home and family are protected.”

Handyman

Some smaller organizations require you to be insured before operating on the premises. You may also find yourself if a dangerous situation in which insurance would be helpful to have. Therefore, it is worthwhile to consider the following questions, written by handymanstartup.com, when deciding whether or not to purchase insurance:

  1. Does your state require it?
  2. Does your target market include apartment complexes? Eventually, you may get an apartment deal. If you are just starting out, this is unlikely unless you are strongly targeting them.
  3. Are you planning to do any work on bank owned properties?
  4. Are you planning on getting licensed as a contractor or handyman?
  5. Are you well established and can easily justify the expense?
  6. Do you wear a helmet all day?

If you answered “yes” to any of these questions, you should consider purchasing some type of insurance coverage. The next section will describe the options available to you.

Handyman Insurance Types

Handyman Insurance Types

Premises-Operations Liability Coverage

This type of coverage protects you against claims of injury or damage resulting from your business operations. This includes claims of injury by other people or damages to property on the premises. Often, this is included as part of a General Liability policy for commercial operations. It covers two types of incident:

  1. Premises: injury and property damage on your premises
  2. Operations: injury or property damage while operating in other locations

Learn more about independent contractors insurance >

Products-Completed Operations Liability

This type of liability coverage protects you against claims regarding your job-site operations. Often, this is included as part of a General Liability policy for commercial operations. As stated by the International Risk Management Institute: “It encompasses liability arising out of the insured’s products or business operations conducted away from the insured’s premises once those operations have been completed or abandoned.”

Learn more about Completed Operations Liability insurance ›

Business Auto Liability Insurance

If your business depends on you traveling to different homes and businesses, you probably have a vehicle to carry your equipment. Having an accident would surely be detrimental to the amount of customers you are able to visit. Having your vehicle protected through a business auto liability policy would help to pay for the cost of repairing or replacing your vehicle after an accident. Make sure that you have both personal auto and business auto insurance, because a personal auto policy will not cover an accident while you are working.

Learn more about Business Auto Liability insurance ›

Property Insurance

Regardless of whether you operate your business out of your home, or rent or own a separate property, you may want to consider property insurance. This will protect your handyman company in case your property is damaged. The type of property included in the coverage varies widely and can include the buildings, equipment, electronics, business furniture, landscaping tools, and other pieces of inventory. Before purchasing property insurance, the National Association of Insurance Commissioners recommends that you have all of your property value assessed, so you know what the limits should be set at. Then, periodically have your property re-assessed so that you can update the insurance rates.

Workers Compensation

Workers compensation is a type of liability insurance that protect you in case you or one of your employees gets hurt while on the job. Over 120,000 go to the emergency room because of tool mishaps every year. It will help to pay for medical expenses, hospital stays, other treatments, and/or wages lost.

Learn more about workers compensation insurance ›

General Liability Insurance

This type of insurance is especially important for protecting you against injuries and damages caused by your business operations. It is broader coverage designed to protect you in a variety of circumstances. You don’t want to get caught having to pay for a lawsuit because of damage done to a customer’s property, whether it was your fault or not. Additionally, many potential customers may feel more confident in hiring you if they know that you have liability insurance.

An example general liability policy may have:

$1,000,000 in bodily injury and/or property damage

$5,000,000 in general aggregate coverage

$1,000,000 in products and completed operations

$1,000,000 in personal and advertising injury liability

$10,000 in medical payments per person

$1,000,000 in employee benefits liability per employee

Learn more about General Liability insurance ›

RESOURCES

Speak to an insurance agent today about how to insure yourself, should the worst happen while you’re on the job. Speak with other contractors and handymen as well to compare insurance options and costs to find the service that makes you the happiest.

As stated by Dan Perry, “As with everything now, you can just go online and submit your information and get quotes from your desk at home. I personally like to talk to a real person for this type of purchase.”

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Enhanced Insurance is not written by attorneys. If you’re looking for legal advice, you need to contact a lawyer. Further, insurance practices and forms change constantly and are varied from state to state. For definitive answers in your area, contact a local agent.

While the majority of people want an agent involved in their purchase of insurance, many people want to see if they can save money by buying direct from the insurance company. Others want to try a direct quote to make sure the premium they’re now paying through their local agent is fair. If you want a quote for your coverage, click on the competitive quote button on the right side of this page.

The following are additional links regarding handyman insurance:

Association of Certified Handyman Professionals

United Handyman Association

While the majority of people want an agent involved in their purchase of insurance, many people want to see if they can save money by buying direct from the insurance company. Others want to try a direct quote to make sure the premium they’re now paying through their local agent is fair. If you want a quote for your coverage, click on the competitive quote button on the right side of this page.